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Retirement of Mr John Corrigan as Chief Executive of the NTMA – Mr Conor O’Kelly announced as new Chief Executive

(The following press release was issued by the Department of Finance on 25 November 2014.)

The Minister for Finance Mr Michael Noonan T.D. announced today (25 November) that Mr John Corrigan will retire as Chief Executive of the National Treasury Management Agency (NTMA) on 04th of January 2015. The Minister has appointed Mr Conor O’Kelly to be the new Chief Executive of the NTMA.

The Minister made the appointment following an extensive search process carried out on the Minister’s behalf by the NTMA Advisory Committee, chaired by Mr Willie Walsh. Speaking on the appointment Minister Noonan stated:

“I am very pleased to be able to appoint an individual of Mr O’Kelly’s calibre to lead the NTMA. 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.” 

The Minister also thanked the outgoing Chief Executive John Corrigan stating:

“I would like to thank John Corrigan for his leadership of the NTMA and for his counsel to me 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.”

Willie Walsh, NTMA Advisory Committee Chairperson and Chairperson Designate of the incoming NTMA Board, said:

“I am very pleased that the Minister has appointed Conor O’Kelly as Chief Executive and look forward to working closely with him.  Conor’s market and investment experience will be invaluable to the NTMA as it manages the wide range of commercial and market-facing mandates that Government has entrusted to it.”

Mr Walsh also thanked the outgoing Chief Executive John Corrigan stating:

“John has done trojan work in navigating the NTMA through a time of great uncertainty and in managing a very substantial broadening of its responsibilities. In particular, I and the other members of the Advisory Committee would like to thank him for the tremendous commitment and surefooted manner in which he managed Ireland‘s full return to the sovereign debt markets.”

Ends

25th November 2014

Editor’s Note

Conor O’Kelly is Deputy Chairman of Investec Holdings (Ireland) Ltd and the former Chief Executive of NCB Group. In 2003 he successfully negotiated and led a management buyout of NCB, which was subsequently sold to Investec Plc. Prior to joining NCB, where he was also Head of Fixed Income, Mr O’Kelly held senior management positions in investment banking with Barclays Capital in London, Tokyo and New York.