Written answers

Thursday, 31 March 2022

Department of Finance

National Asset Management Agency

Photo of Peadar TóibínPeadar Tóibín (Meath West, Aontú)
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216. To ask the Minister for Finance if he records the details of private firms that former employees of NAMA are working in; the number of NAMA staff who are currently working in private property-related firms; and if he will provide details of the level within NAMA that these staff were working. [17177/22]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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All NAMA staff are employees of the NTMA and are assigned to NAMA by the NTMA in line with Section 42 of the NAMA Act 2009. Other than a small number of staff re-assigned from other functions within the NTMA, NAMA staff are typically employed on the basis of specified purpose contracts i.e. their employment lasts for as long as NAMA requires their particular function. Staff assigned to NAMA generally have a 3-month notice period and garden leave provision in their contracts.

While NAMA is not obliged to record the details of future employers for individuals who leave the organisation, a provision prohibiting certain activities in an employee's subsequent employment for a defined period of time was introduced on a case by case basis following a review of NTMA notice periods and post termination restrictions of employment.

The Deputy will also be aware of that staff assigned to NAMA must comply with Section 202 of the NAMA Act, which provides that all current and former staff, as well as members of the NAMA Board, are subject to lifelong confidentiality obligations.


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