Nama chief is Government’s preferred option for ‘housing tsar’

The Government has identified National Asset Management Agency (Nama) chief executive Brendan McDonagh as its preferred option to take up a new role as the State’s housing “tsar”.

The new role will head up the Strategic Housing Activation Office, which is being established in the Department of the Taoiseach in the coming weeks.

On Friday morning, Taoiseach Micheál Martin said a person had been identified and that Minister for Housing James Browne would be announcing that name very shortly.

Senior sources said on Friday that Mr McDonagh, who headed up the State’s bad bank since 2009, was the preferred candidate but that an agreement had yet to be struck with him.

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Mr McDonagh’s name was first reported as being in the mix for the new role last month by the Business Post.

If he agrees to take up the role, it is understood that the process could conclude very quickly, with plans to bring the setup of the office forward for Cabinet approval next month.