Legislation to wind up Nama is due to go before the Oireachtas finance committee in the coming weeks, which provides for the establishment of a small resolution unit within the NTMA to administer Nama affairs after it winds up.
“I expect there will be small number of people whose job it will be to see out the remaining work of Nama ..it will not need a (chief executive),” Donohoe said.
Today’s News in 90 seconds – 6th May 2025
“It is my expectation that Brendan McDonagh will not be in that small unit,” Mr Donohoe continued.
“He has a contract at the moment with his employer, which is Nama.
“We have not made any of the decisions yet in relation to his future, and those decisions in the first place will be made between himself and his employer, which in this case is (once again) the NTMA.
“I’d expect those discussions will happen later in the year.”
The minister said the Government is confident it can find a “good leader” to head up the new housing activation office adding that “many people across the public service and wider economy would want to play a role” and have the requisite skills.
The Sunday Independent reported at the weekend that Housing Minister James Browne is adamant he will press on with the appointment of a chief executive at the Housing Activation Office, following Brendan McDonagh withdrawing his name.
Among the names being circulated as possible contenders are LDA head John Coleman, who is on a current salary of about €200,000.
Mr McDonagh was the “preferred candidate” for the job of removing blockages to the building of houses. But his €430,000 salary became a major sticking point.
Mr McDonagh would have taken up the role of the CEO but he would be on secondment from the State’s national debt manager, the NTMA. He is currently on a secondment from the agency to Nama.
Fine Gael ministers pushed back over the transparency around the appointment and last week Mr McDonagh told Minister Browne that he was withdrawing his name from consideration for the role.
Tánaiste and Fine Gael leader Simon Harris told RTÉ’s Late Late Show last Friday night that he does not believe a €430,000 salary to lead the Government’s new Housing Activation Office would be appropriate, insisting “we have to get this right”.
Asked if he “blocked” the potential appointment of Mr McDonagh, Mr Harris said: “I don’t like the word block, I just didn’t think it was a particularly good idea”.
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