Financial consultant Stewart resigns from NAMA board

Financial consultant Peter Stewart has resigned his role as a non-executive director of the board of NAMA.

Accountant Stewart has been a board member since the establishment of NAMA in December 2009.

"It has been a great honour and privilege to serve on the board of NAMA," he said.

"This is an appropriate juncture for my decision, particularly with the completion of the review of the structures of NAMA by the former chief executive of HSBC, Michael Geoghegan. His review should result in significant changes to the structures of the agency."

He said the demands of NAMA board membership had been "particularly onerous". Last year, he attended 94 meetings of the agency – 24 board meetings, 14 audit committee, 52 credit committee, and four Northern Ireland advisory committee meetings. He was chairman of the Northern Ireland advisory committee.