Defection sparks NTMA review

The head of the NTMA, John Corrigan, has promised to review the movement of personnel from his agency to the private sector following the latest high-profile defection of Michael Torpey to Bank of Ireland.

Mr Torpey, who was seconded from the NTMA to the Department of Finance as head of the shareholder management unit, announced last week that he is to take up a position as the chief executive of corporate and treasury management at Bank of Ireland after a three-month gardening leave.

Mr Corrigan was appearing before the Oireachtas Finance Committee yesterday. Sinn Féin’s Pearse Doherty said if Mr Torpey had been a civil servant then he would have been prohibited from making a similar move for up to two years after leaving his position.