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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Flow East has suggested to us that it would come before the committee to trash out the details. It is something the committee may consider. Mr. McDonagh has given us the information required.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Okay. I have a single question in regard to Project Eagle. The inquiry continues into Project Eagle but is it not a that the inquiry is only into the activities, actions or transactions on this side of the Border? Does the inquiry have a jurisdiction in the North?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: In terms of the full value of the loans, €74 billion, versus the NAMA figure to date of €32 billion, do the figures include the loans that were left with the banks to manage?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Are there any small loans left in the banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Okay. Having perused the breakdown of salaries, I note that the salaries of 45 of the 302 staff for 2016 are in excess of €125,000. Generally by comparison, what are staff with the skill sets required by NAMA paid in the private sector? How much over the odds are such staff paid in the private sector? What is the challenge facing Mr. McDonagh in terms of salaries?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: That is a significant challenge for the next two years.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Is Mr. Daly worried about Mr. McDonagh going to the private sector? Would he get an increase in his salary?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Would he be in demand?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Mr. Daly is after hanging in for a long time. The board and committee members' fees and expenses are listed in the document. Is there a set fee for board members?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Is that the reason for Mr. William Soffe's fee?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: In terms of the travel expenses?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: What kind of travel is involved?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Do Mr. Ellingham and Mr. McEnery have a particular qualification? Does NAMA seek people with certain skill sets to serve on the board?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Does Mr. Daly select the membership of the board?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: When all is said and done about all the costs involved in running NAMA, the figure comes in at €32 billion.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: I understand that part. After one strips out everything, NAMA will raise-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Are are any former staff still out on garden leave? What happens when they leave?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: How many are out on six months garden leave?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: What is the highest number of people to ever be out on this six month leave?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: And on three months?

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