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03/11/2009
Finance Dept Seeks Nama Candidates
The Department of Finance has placed advertisements in today's newspapers seeking people to join the first board of the contentious National Asset Management Agency.
The ad states the Governemnt is seeking expressions of interest from those with "specialist expertise" to join the board that will be buying up toxic loans being held by banks.
The board of NAMA will be made up of seven non-executive members with the application seeking those with expertise in areas such as finance, law, accounting, property valuation, banking or insolvency.
Speaking regarding the launch of the recruitment drive for NAMA, Minister for Finance Brian Lenihan said: "The early establishment of NAMA is of critical importance. That is why we have sought expressions of interest for appointment to the NAMA Board at this time and in advance of the anticipated enactment of the NAMA Bill.
"The role of the NAMA Board will be critical in ensuring that NAMA discharges its functions under the legislation in an efficient and effective manner. This in turn will mean that NAMA meets its policy objective of restoring stability to the Irish financial system and improving credit availability. In that context, I will be seeking to appoint candidates of the highest calibre to the Board of NAMA."
Minister for Finance Brian Lenihan said he is open to suggestions from the Opposition for candidates for the board. The closing date for applications is 11 November while the Government hopes to have the NAMA finalised legislation finished in the Oireachtas by 12 November.
It will then be up to President Mary McAleese to decide whether to sign it or refer it to the Supreme Court.
(DW/BMcc)
The ad states the Governemnt is seeking expressions of interest from those with "specialist expertise" to join the board that will be buying up toxic loans being held by banks.
The board of NAMA will be made up of seven non-executive members with the application seeking those with expertise in areas such as finance, law, accounting, property valuation, banking or insolvency.
Speaking regarding the launch of the recruitment drive for NAMA, Minister for Finance Brian Lenihan said: "The early establishment of NAMA is of critical importance. That is why we have sought expressions of interest for appointment to the NAMA Board at this time and in advance of the anticipated enactment of the NAMA Bill.
"The role of the NAMA Board will be critical in ensuring that NAMA discharges its functions under the legislation in an efficient and effective manner. This in turn will mean that NAMA meets its policy objective of restoring stability to the Irish financial system and improving credit availability. In that context, I will be seeking to appoint candidates of the highest calibre to the Board of NAMA."
Minister for Finance Brian Lenihan said he is open to suggestions from the Opposition for candidates for the board. The closing date for applications is 11 November while the Government hopes to have the NAMA finalised legislation finished in the Oireachtas by 12 November.
It will then be up to President Mary McAleese to decide whether to sign it or refer it to the Supreme Court.
(DW/BMcc)
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