Chartered accountant Peter Stewart has resigned as a member of the board of the National Asset Management Agency.

In a statement, the Department of Finance said that minister Michael Noonan was informed yesterday of Mr Stewart’s resignation.

Mr Stewart was the Chairman of NAMA’s Northern Ireland Advisory Committee.

“Mr Stewart, along with the other Board members, has made a very important contribution to the work of the Agency, especially during the extremely busy set up phase of its operations,” said Mr Noonan.

NAMA Chairman, Frank Daly thanked Mr Stewart for his service on the board "during what has been an exceptionally busy and challenging period and commended his contribution to the progress of the agency".