Nama seeks financial officer as part of executive reshuffle

Nama is seeking to recruit a full-time chief financial officer as part of a reorganisation of functions that will also involve a reshuffle of several senior executive roles.

Increasing the number of direct reports to Nama chief executive Brendan McDonagh, the reorganisation will see some existing divisions restructured. New divisions will cover asset management; asset recovery; strategy and communications.

Mr McDonagh said: “These changes will help ensure that Nama is correctly positioned for the challenges ahead. The agency has achieved an enormous amount in its short existence and we have a very busy agenda ahead of us.

“Our focus remains on recovering the maximum amount of money for the Irish taxpayer and we will continue to evolve and develop organisationally to respond to the challenges we face.”

Aideen O’Reilly will head up the legal division, which remains a separate function. When recruited, the chief financial officer will manage business functions such as finance and business services, treasury, tax, audit and risk.

John Mulcahy will head asset management, a division responsible for working with debtors, receivers and joint venture partners to enhance cashflow.

Ronnie Hanna is to head up asset recovery, working with debtors and receivers on loan recoveries.

Sean Ó Faoláin is the new head of strategy and communications. This division will undertake regular reviews of Nama’s strategy and will develop and implement product initiatives, as well as communications strategy