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Management Team

Conor O’Kelly
Chief Executive Conor O’Kelly was appointed Chief Executive of the NTMA in January 2015. He is the former Deputy Chairman of Investec Holdings (Ireland) Ltd. Prior to that he was Chief Executive of NCB Group and in 2003 successfully negotiated and led a management buyout of the firm, which was subsequently acquired by Investec Plc. Before joining NCB as Head of Fixed Income he had spent 11 years with Barclays Capital where he held senior management positions and worked in London, Tokyo and New York. He is a former director of the Irish Stock Exchange and a former member of the Trinity College Foundation Board. He is a graduate of Trinity College Dublin and holds a master’s degree from Senshu University in Japan.

Conor O'Kelly Conor O’Kelly

Ian Black
Chief Financial and Operating Officer Ian Black joined the NTMA in 2013 as Director of Finance, Technology and Risk. Prior to joining the NTMA, he was an Executive Director (CFO/COO) of KBC Bank Ireland with responsibility for Finance, Operations & IT, and Treasury-ALM. He has worked in the financial services industry since 1988. He is a Chartered Accountant, member of the UK Association of Corporate Treasurers, member of the Irish Tax Institute and holds an MBA from Dublin City University.
Ian Black Ian Black
Ciarán Breen
Director, State Claims Agency Ciarán Breen was appointed Director of the State Claims Agency (SCA) in 2007. He joined the NTMA in 2001 when he was appointed Head of Claims at the SCA. Prior to joining the NTMA, he held the position of Managing Director of a leading nationwide firm of insurance liability adjusters. He is a graduate of Maynooth College and the Honorable Society of King’s Inn.

Ciarán Breen Ciarán Breen

Sinead Brennan
Director of Human Resources Sinead Brennan joined the NTMA in March 2014. Prior to joining the NTMA, she was Head of Human Resources with KBC Bank Ireland and previously HR Director with BDO Ireland. Sinead has also worked in HR roles in the software sector and in HR consultancy services. She holds of PhD from Dublin City University and is a member of the Chartered Institute of Personnel and Development.
Sinead Brennan Sinead Brennan
Des Carville
Head of Banking (on secondment to Department of Finance) Des Carville joined the NTMA in November 2013 as Head of Banking. He is on secondment to the Department of Finance where he is Head of the Shareholding Management Unit with responsibility for the completion of the restructuring of the banking system and managing the State’s shareholding in the banks and disposals thereof. Prior to joining the NTMA he worked for Davy Corporate Finance from 1998, becoming a director in 2001 and was involved in a wide range of public and private company transactions. He is a member of Chartered Accountants Ireland (FCA), having trained with KPMG from 1994 to 1998, and the Institute of Bankers. He holds a BSc (mgt) from TCD.
Des Carville Des Carville
Eileen Fitzpatrick
Director, NewERA Eileen Fitzpatrick was appointed Director of NewERA in September 2011. She joined the NTMA in 2006 as Director with responsibility for Alternative Asset Investments within the National Pensions Reserve Fund. She was previously Chief Executive of AIB Investment Managers and has worked in the financial services industry since 1987. She has extensive capital markets experience and has held a number of senior roles in both the asset management and stockbroking industries. She is a graduate of University College Dublin where she completed a PhD in Science in 1986.

Eileen Fitzpatrick Eileen Fitzpatrick

Brian Murphy
Director, National Development Finance Agency Brian Murphy is Director of the National Development Finance Agency (NDFA). He was NDFA Chief Executive Officer from January 2009 until the transfer of its functions to the NTMA in January 2015. He has held a number of senior positions in the financial services industry prior to joining the NTMA in 2007. His career to date has included various positions with Citibank, both in Ireland and the Middle East, and assignments with ABN Amro Bank as CEO in Sweden/Finland (1995-1999) and as ABN Amro Group CEO in Ireland. His range of experience covers credit, project finance, corporate finance/M&A and capital markets/treasury. He is a commerce graduate of University College Dublin.

Brian Murphy Brian Murphy

Eugene O’Callaghan
Director, Ireland Strategic Investment Fund Eugene O’Callaghan was appointed Director of the National Pensions Reserve Fund (forerunner of the Ireland Strategic Investment Fund) in April 2010, having previously been Head of the Investment Manager Programme, with responsibility for the NPRF’s investments in public markets across all asset classes. He joined the NTMA in 2005 from Irish Life Investment Managers where he had been an Executive Director and Chief Operating Officer and had worked for fifteen years in a variety of investment management and business management roles. Prior to that he lived in New Zealand for five years where he worked in an investment bank and in a major accounting firm. He is a Chartered Accountant and is a commerce graduate of University College Dublin.

Eugene O'Callaghan Eugene O’Callaghan

Frank O’Connor
Director, Funding and Debt Management 
Frank O’Connor joined the NTMA in 2010, initially as Head of Treasury in NAMA. Before joining the NTMA he worked for 20 years in a variety of roles within AIB including the Head of Trading in AIB’s Primary Dealer Bond Unit and Head of Wholesale Treasury, Bank Zachodni WBK based in Warsaw, Poland. He is a Fellow of the Association of Chartered Certified Accountants (FCCA) and a graduate of Dublin City University, Trinity College Dublin and the Institute of Bankers in Ireland.
Frank O'Connor Frank O’Connor
Andrew O’Flanagan
Chief Legal Officer Andrew O’Flanagan joined the NTMA in 2011 as Head of Legal, Control and Compliance. Prior to that, he was Head of Legal at ESB and Chief Legal Officer of Bord Gáis Éireann and also worked in New York and London as a corporate lawyer with the Wall Street law firm Davis Polk & Wardwell. A graduate of NUI Galway and Yale Law School, he is admitted to practice in Ireland and New York.

Andrew O'Flanagan Andrew O’Flanagan