John Corrigan is due to retire as chief executive of the National Treasury Management Agency in January. 

Finance Minister Michael Noonan said that Mr Corrigan will be replaced by Conor O'Kelly at the NTMA.  

In a statement, the Minister made the appointment following an extensive search process carried out by the NTMA Advisory Committee, chaired by Willie Walsh. 

"The NTMA is a critical part of the State's financial infrastructure and Mr O'Kelly and the new NTMA Board will have a central role to play as Ireland builds on its recovery in the coming years," commented Mr Noonan.

The Minister also thanked Mr Corrigan for his counsel during an "extremely challenging period in Ireland's recent history".

"The NTMA, under John's leadership, has made a very significant contribution to Ireland's recovery, most notably through the role it played in Ireland's successful exit from the EU/IMF programme and in regaining access to the sovereign bond markets," Mr Noonan said.

Mr O'Kelly is deputy chairman of Investec Holdings (Ireland) Ltd and the former CEO of the NCB Group. He has also held senior management positions in investment banking with Barclays Capital in London, Tokyo and New York.