News this afternoon that NAMA is changing its organisational structure a little. Here’s a chart prepared on here which shows the new organisation.
John Mulcahy’s role, which was Head of Portfolio Management and is now Head of Asset Management, seems to have narrowed a little and it seems to me that there is quite a lot of overlap between his role and that of Ronnie Hanna’s – might the owlish Brendan be preparing for a future resignation? According to the NAMA press release, John’s new remit “will be responsible for working with debtors, receivers and joint venture partners to identify and develop and asset manage assets where value can be added so as to enhance future cashflow” whereas Ronnie Hanna’s is to “work with debtors and Receivers to enhance the effective and efficient management of loan recoveries. It will be formed from the merger of the existing divisions of Portfolio Management, Credit and Lending & Corporate Finance” Ronnie seems to have absorbed much of NAMA’s recently-departed – he’s gardening and fishing according to his LinkedIn profile, apparently – Head of Lending, Graham Emmett.
Sean O’Faolain seems to be getting the “right hand man” role to the CEO, in that he is responsible for “strategy” as well as communications. If, God forbid, Brendan McDonagh got run over by a bus or Maybach tomorrow, it looks on here as if Sean would step into his shoes.
Aideen O’Reilly continues to be responsible for legal affairs and we know NAMA is involved in quite a number of those. She seems to have lost her remit over tax which goes to…
A new role of Chief Financial Officer, which has been created and “in the coming week” NAMA will start the recruitment process for this role. The new person will have a broad range of responsibilities befitting a €30bn asset management company.
There’s still no word about the two vacancies on the NAMA board caused by the departure in October and November of Peter Stewart and Michael Connolly. These appointments are largely in Minister for Finance, Michael Noonan’s hands but he seems more concerned at present in creating his very own NAMA advisory board.
NAMA Wine Lake 
technical note:
one does not’ get run over by a bus or a maybach’ any more
one gets ‘abducted by aliens’
it is much more politically correct and more family friendly, and it doesn’t put ideas in peoples heads.
Only a poet knows how to work really hard for the right to giving his best stuff away, so, a poet should run NAMA. I am available.
So John is going to be the deal maker and Ronnie is in charge of the knacker’s yard. A significant shift in thinking and culture is taking place as we speak.