Board and Committees

Conference table with water bottles

The NAMA Board comprises nine members, including the Chairman, who were appointed by the Minister for Finance. The Chief Executive of NAMA and the Chief Executive of the National Treasury Management Agency (NTMA) are ex-officio members of the Board.

The NAMA Act (Section 18) sets out the principal responsibilities of the Board, which are

  • to ensure that NAMA discharges its functions efficiently and effectively;
  • to set strategic objectives  and targets for NAMA;
  • to ensure that the appropriate systems and procedures are in place to achieve the strategic targets and objectives; and
  • to take all reasonable steps available to it to achieve those targets and objectives.

Frank Daly, Chairman of the Board, was appointed by the Minister for Finance on 22 December 2009. Mr Daly was re-appointed by the Minister for a further five-year term on 22 December 2014. Oliver Ellingham was appointed by the Minister on 10 April 2013 and re-appointed for a five-year term on 10 April 2018. Mari Hurley was appointed by the Minster on 8 April 2014. Michael Wall and Eileen Maher were appointed on 3 July 2018 for a five-year term by the Minister. Aidan Williams was appointed on 2 April 2019 for a five year term. The two ex-officio members of the Board are Conor O'Kelly (Chief Executive of the NTMA) and Brendan McDonagh (Chief Executive Officer, NAMA).

No appointed member is eligible to serve more than two consecutive terms. The Minister determines the level of remuneration of appointed members and their entitlement to reimbursement for expenses. The ex-officio members do not receive any additional remuneration for their membership of the Board.

The Board has established four statutory committees, under Section 32 of the Act, to assist in the discharge of its responsibilities:

  • Audit Committee (chaired by Oliver Ellingham)
  • Credit Committee (chaired by Mari Hurley)
  • Finance and Operating Committee (chaired by Eileen Maher)
  • Risk Management Committee (chaired by Aidan Williams)

The Board has also established three advisory committees under Section 33 of the Act:

  • Planning Advisory Committee  (chaired by Michael Wall)
  • Northern Ireland Advisory Committee (chaired by Frank Daly*)
  • Remuneration Committee (chaired by Mari Hurley)

*This committee was dissolved following its final meeting on 8th September 2014.