Brendan McDonagh has been appointed by the Government as interim managing director of the National Asset Management Agency.

Mr McDonagh is currently Director Finance, Technology and Risk with the National Treasury Management Agency.

Making the announcement Minister for Finance Brian Lenihan said ‘Preparatory work for the establishment and operation of NAMA on a statutory basis is underway. By appointing Mr McDonagh to this position the Government is ensuring the implementation process will be driven forward in the interim period pending legislation.’

The Minister added that Mr McDonagh will be assisted by a high level advisory committee to be named shortly.

Mr McDonagh has held his current position at NTMA since 2002. Prior to that, he was Financial Controller from 1998-2002 of the NTMA. He joined the NTMA in 1994, having previously worked for a number of years with the ESB in a number of areas including accounting, internal audit and treasury.