National Asset Management Agency - Annual Report 2012

BOARD MEMBERS

Mr. Frank Daly
1. Mr. Frank Daly

Chairman (appointed 22 December 2009 for a 5-year term)
• Chairman of Northern Ireland Advisory Committee

Frank Daly was appointed as a Public Interest Director of Anglo Irish Bank in December 2008. He resigned from this post on 22nd December 2009 when appointed Chairman of NAMA by the Minister for Finance ('the Minister').

Mr Daly retired as Chairman of the Revenue Commissioners in March 2008 having been Chairman since 2002 and a Commissioner since 1996. He had joined Revenue in 1963.

In March 2008, Mr Daly was appointed Chairman of the Commission on Taxation which was set up to review the structure and efficiency of the Irish taxation system; the Commission issued its Report in September 2009.

John Corrigan
2. Mr. John C. Corrigan

Board member (ex-officio)
• Member of the Risk Management Committee

John Corrigan was appointed Chief Executive of the National Treasury Management Agency ('NTMA') in December 2009. He joined the NTMA in 1991 shortly after its establishment and was initially responsible for managing the domestic component of Ireland's National Debt. In 2001, Mr. Corrigan was involved in the establishment of the National Pensions Reserve Fund (NPRF) and was the Fund's Investment Director until his appointment as NTMA Chief Executive.

Before joining the NTMA, Mr. Corrigan was Chief Investment Officer of AIB Investment Managers, having previously worked in the Department of Finance.

Mr. Oliver Ellingham
3. Mr. Oliver Ellingham

Board member (appointed 10 April 2013 for a 5-year term)

Oliver Ellingham is a chartered accountant and a former Head of Corporate Finance (Europe) at BNP Paribas and a senior executive within BNP Paribas UK. He currently holds non-executive directorships in a number of companies and is Chairman and owner of Woking Storage Solutions. He previously also held senior management roles within Charterhouse Bank (now part of the HSBC Group) and Robert Fleming (now J P Morgan) and served as a member of the Board of Irish Bank Resolution Corporation Ltd. ('IBRC') from October 2011 to February 2013.

Mr. Oliver Ellingham
4. Ms. Éilish Finan

Board member (appointed 22 December 2009 for a 4-year term)
• Chairperson of the Finance and Operating Committee
• Member of the Audit Committee
• Member of the Northern Ireland Advisory Committee

Éilish Finan is a Chartered Director and holds independent non-executive directorships in a number of Boards within the financial services and property sectors. In her earlier career, Ms. Finan was Chief Financial Officer and Director with AIG Global Investments specialising in investment management, fund management, trustee and custodial services and asset management. Prior to this, Ms. Finan worked with KPMG as a chartered accountant. She is a Board member of JP Morgan Bank Ireland. She is a Fellow of Chartered Accountants Ireland and an Electronic Engineer.

Mr. Brendan McDonagh
5. Mr. Brendan McDonagh

Chief Executive Officer
• Board member (ex-officio)
• Member of the Finance and Operating Committee
• Member of the Risk Committee
• Member of the Credit Committee
• Member of the Planning Advisory Committee

Brendan McDonagh was appointed Chief Executive Officer of NAMA by the Minister for Finance in December 2009. Prior to that, he was the Director of Finance, Technology and Risk at the NTMA from 2002 until 2009 and held the post of NTMA Financial Controller from 1998 to 2002.

Mr. McDonagh joined the NTMA in 1994 from the ESB, Ireland's largest power utility, where he worked in a number of areas including accounting, internal audit and treasury.

Mr. Brian McEnery
6. Mr. Brian McEnery

Board member (appointed 22 December 2009 for a 4-year term)
• Chairperson of the Audit Committee
• Member of the Credit Committee
• Member of the Northern Ireland Advisory Committee

Brian McEnery (FCCA) specialises in corporate rescue and insolvency and is a partner in a leading firm of accountants and business advisors and practices in Limerick and Dublin. He is a Fellow of the Association of Chartered Certified Accountants (ACCA) and a council member of ACCA. In 2010 he was the President of ACCA Ireland. He is a director of the Consultative Committee of Accounting Bodies (CCAB) and serves on its insolvency committee in Ireland.

Mr. John Mulcahy
7. Mr. John Mulcahy

Head of Asset Management, NAMA
(Appointed 7 March 2012 for a 5-year term)
• Board member
• Member of the Credit Committee
• Member of the Risk Management Committee
• Member of the Planning Advisory Committee

John Mulcahy is a chartered surveyor and has worked in all aspects of the property industry for over 40 years, most recently concentrating on property investment and asset management.

Mr. Steven A. Seelig
8. Mr. Steven A. Seelig

Board member (appointed 26 May 2010 for a 3-year term)
• Chairperson of the Risk Management Committee
• Member of the Audit Committee

Steven A. Seelig is a Principal and CEO of Financial Stability Associates, a consulting firm specialising in the spectrum of financial stability issues. Prior to establishing Financial Stability Associates, Mr. Seelig served as Advisor in the Monetary and Capital Markets Department of the International Monetary Fund (IMF) where he had primary responsibility for the financial sector restructuring and resolution activities of the department.

Mr. Seelig spent the bulk of his professional career at the Federal Deposit Insurance Corporation ('FDIC'), holding a broad range of positions, including CFO and Director of Divisional Liquidation. Mr. Seelig also worked as an Economist at the Federal Reserve Bank of New York and as an Associate Professor of Economics at Fordham University.

Mr. Willie Soffe
9. Mr. Willie Soffe

Board member (appointed 22 December 2009 for a 4-year term)
• Chairperson of the Credit Committee
• Chairperson of the Planning Advisory Committee
• Member of the Finance and Operating Committee
• Member of the Northern Ireland Advisory Committee

Willie Soffe has over 45 years' service in Local Government in the Dublin area, during which time he has held the positions of Assistant City Manager, Dublin Corporation (now Dublin City Council) and County Manager, Fingal County Council.

Since retiring in 2004, Mr. Soffe has carried out a number of public service assignments including Chairman of the Dublin Transport Office, a member of the Commission on Taxation and a member of the Steering Group on the Review of Area-Based Tax Incentive Renewal Schemes.