Oireachtas Joint and Select Committees

Thursday, 26 September 2013

Public Accounts Committee

Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency

11:10 am

Mr. Brendan McDonagh:

No, for the type of people we employ, particularly in the areas of asset management and asset recovery, there are lots of job opportunities. Some of the main banks here are gearing up to deal with distressed mortgages and other items on their loan books and people who have worked in NAMA, having spent three years managing debtors and dealing with distressed assets, are being targeted. There are also a number of international property and private equity firms coming into Ireland with the intention of buying assets and they are also recruiting people. Some people have moved to London too. A number of those would have come over from the UK when we recruited them and have now moved back to London. There are also some Irish people who have chosen to move to London. One of my senior financial staff has just been offered a job in Washington with the IMF. That goes to show how far our staff can travel.