Results 5,421-5,440 of 21,440 for speaker:Mary Lou McDonald

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: Cuirim fáilte roimh uilig. While this issue has been raised by other colleagues, I wish to ask Mr. McDonagh about staff leaving and going to work with other property entities and people who have had interactions with NAMA. He has explained that the notice period is three months. Does he not believe it would be a good idea to have a cooling-off period? I entirely accept the point that...

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: That does not equate with what is understood as a cooling-off period. Is Mr. McDonagh saying that NAMA intends to follow suit, in line with the new-----

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: Will there now be a six-month notice period?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: I am just clarifying for anybody who might be watching the proceedings of this committee that the provision will apply to new staff. With regard to existing staff whose contracts specify a three-month notice period, Mr. McDonagh said there is an option of gardening leave, which is a term I always find quite amusing. There would be a lot of gardening done in three months. NAMA lost 50...

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: Were the 50 staff, specifically the five, put on gardening leave for three months?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: Mr. McDonagh concedes the point that there is a dilemma here.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: I am sure Mr. McDonagh can appreciate that although there is a sectoral norm, the average person looking in at the NTMA and NAMA regards their staff as well paid by any standards. The staff work on behalf of the taxpayer; that is their mandate. Therefore, they will understand that there is considerable sensitivity, not just in NAMA as an entity but also among the general public in that the...

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: That might well be Mr. Daly's assumption.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: Absolutely.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: That is fair enough. For the record, let it be said that I am not casting any aspersions on any individual bar in respect of the case reported in the media of abuse that was uncovered. I understand there is a Garda investigation. We might come back to that.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: I will come back to that. I am raising the point not to cast aspersions on any individual but to suggest this is a matter of good practice and of having systems in place. It should not be a matter of Mr. Daly or me speculating on whether staff are being recruited for reason A, B or C or for insider knowledge. Given the task and mandate of NAMA and the fact that there could be outside...

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: I thank Mr. Daly for that. To be clear, I believe it was a mistake from the inception of NAMA not to have joined the dots and looked for potential conflicts of interest and not - as a matter of good practice - to have initiated that cooling off period from the get-go. I have heard Mr. Daly's answer, however. As regards winding up Anglo or the IBRC, how many staff does Mr. McDonagh...

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: When does Mr. McDonagh anticipate that will happen?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: Can Mr. McDonagh give an idea of the staff that are coming across to NAMA? Who are they and what do they do?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: Will some fairly senior people also be coming across from the management ranks?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: Would people be coming into NAMA who would have been in senior managerial roles within Anglo prior to the wind-up?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: I take Mr. McDonagh's point that this is work in progress. Will they come across with the same terms and conditions and rates of pay?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: Can Mr. McDonagh talk me through that?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: Officially, therefore, these people will work for the NTMA.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Mary Lou McDonald: If I am not mistaken, the NTMA can be sensitive about setting out what those rates of pay are.