Michael Somers, chief executive officer of Ireland's National Treasury Management Agency, may retire this year, a person familiar with the situation said.
The 67-year-old may be replaced by John Corrigan, the head of the country's National Pension Reserve Fund, according to the person, who declined to be identified because a final decision hasn't been made.
Mr Somers declined to comment, a spokesman for the debt agency in Dublin said. He was appointed to head the agency in 1990.
Ireland's debt as a proportion of gross domestic product fell to about 43 per cent at the end of last year from 95 per cent when Mr Somers took over. "It is the end of an era," said Alan McQuaid, chief economist at Bloxham Stockbrokers in Dublin.
"Somers is a hard act to follow. Corrigan would be more than capable of doing a good job in these difficult times."
Borrowing has risen this year as the debt agency helps fund a fiscal deficit that will amount to about 12 per cent of GDP. The country has raised about €34 billion ($51.1 billion) by selling securities this year.
Mr Corrigan couldn't immediately be reached at his office. A spokesman for Minister for Finance Brian Lenihan declined to comment.
Bloomberg