Ronan link to Nama boss ‘unsettling’

Nama has said there is no conflict of interests after a photograph emerged of one of its senior executives on a cycling holiday with Vita Cortex boss Jack Ronan.

Nama has seized several of Mr Ronan’s assets and is still in negotiations with him over the transfer of an unencumbered asset which could end the 54-day sit-in by 32 workers at the Vita Cortex plant in Cork.

The workers reacted angrily yesterday when a photograph emerged of Mr Ronan on holiday with Nama’s deputy head of portfolio management Michael Moriarty who oversees the agency’s lending and corporate finance teams.