Fiona Reddan

Conor O'Kelly, the former chief executive of NCB Stockbrokers, will become chief executive of the National Treasury Management Agency (NTMA) on Janury 4th following the retirement of John Corrigan.

In an announcement today, the Minister for Finance Michael Noonan said that Mr O'Kelly, the current deputy chairman of Investec Holdings, will assume the role, following an extensive search process carried out on the Minister's behalf by the NTMA Advisory Committee, chaired by 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.”

Mr Noonan also thanked Mr 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.”

“I am honoured and delighted to be chosen as the next CEO of the NTMA. It is an organisation that is held in the highest regard both domestically and internationally and I look forward to building on its success and that of its current CEO John Corrigan in the years ahead,” Mr O’Kelly said.

In 2003 Mr O'Kelly successfully negotiated and led a management buyout of NCB, which was subsequently sold to Investec. 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.