Oireachtas Joint and Select Committees
Thursday, 13 February 2014
Public Accounts Committee
2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund
3:00 am
Mr. John Corrigan:
The build-up in staff has been primarily in the NAMA area but it is also fair to say that NewERA has been a new function that we have got and we have had to recruit there. There is a small team in NewERA. There are 13 people working in NewERA.
In the funding and debt management area, I should say we do not have a cast of thousands. I have made this point here before. We have 15 people working in funding and debt management. Equally, in the National Pensions Reserve Fund, which would have had over 20 people in the team, we have ramped that down to 15. Again, we will have to skill up there because the nature of the strategic investment fund moves much more towards a private equity-type model where we will be doing more direct investment rather than hiring managers to do the investment, and it is going to be challenging to get the people with the skills unless we can pay them properly.