The National Asset Management Agency has appointed Aidan Williams as its new chairman.

Mr Williams takes over the position from Frank Daly, who has come to the end of his second term as chairman and who is retiring.

Mr Williams was appointed to the NAMA board in April and has over 40 years' experience in international capital markets, investment banking, fund management and stockbroking. 

The current chairman of both Macquarie Capital Ireland and Unicredit Bank Ireland, Mr Williams takes up his new role on December 21.

The Minister for Finance and Public Expenditure and Reform, Paschal Donohoe, said the position of NAMA chairman was a demanding role and he wished Mr Williams and the agency continued success.

He also thanked Frank Daly for his work and said that under his chairmanship, NAMA has had an overwhelmingly positive impact on the Irish economy at a crucial time in the country's history. 

"I would like to take this opportunity to express my appreciation for his commitment and contribution to the success of the agency since his appointment as chairman 10 years ago. I wish him well in his retirement," the Minister added.