Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Minister for his response. We all have a vested interest in NAMA succeeding and performing its functions well. The staff turnover rates in NAMA are very high. I suspect they are disproportionately high at a senior level. Staff appear to feel they can, and they do, attract higher salaries when they leave the agency. I find that remarkable but it seems to be the case. It must be one of the explanations why so many senior people have left the agency in recent times, despite being very well paid. There might be a need for a cooling off period for people who leave senior positions in the agency. The Minister outlines some of the safeguards regarding confidentiality etc. However, many people who have left senior positions in NAMA have seamlessly moved into very senior positions in property investment firms and real estate firms, and property consultancy. I do not suggest any impropriety but there is potential for people to use relationships they have developed and knowledge, as opposed to information, they have built up during their time in NAMA. The Minister was to examine the issue. Could he update us on that?

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