Connolly resigns from board of NAMA

Another director of NAMA has handed in his resignation to the Minister for Finance Michael Noonan.

Michael Connolly is the second non-executive director to step down from the agency, following the departure of Peter Stewart last month.

Mr Connolly had been appointed to NAMA two years ago.

He was a former senior member of the Bank of Ireland, had advisory roles in ACC and Anglo, and was a member of the Financial Services Ombudsman's office.

The Chairman of NAMA thanked Mr Connolly for his contributions during what he said was "an exceptionally busy and challenging" period for the agency.