NAMA has this evening announced that it has filled the vacancy for its Chief Financial Officer (CFO) role. Donal Rooney, an existing NAMA employee is taking over the role. According to a NAMA statement, Donal joined NAMA in May 2010 and has experience in NAMA’s Portfolio Management and Asset Recovery divisions. NAMA says “prior to joining NAMA, Mr. Rooney worked initially for Arthur Andersen from 1997 until 2002 before joining KPMG where he held the position of Director in its Audit & Advisory division. He is a graduate of University College Dublin.”
The NAMA organisation chart should now look like this.
The CFO looks after Finance, Business Services, Treasury and Tax as well as Audit & Risk, according to NAMA. Up to now, it seems that NAMA’s CEO, Brendan McDonagh who is a management accountant by training, alongside support from NAMA’s parent the NTMA, undertook the CFO role. So the appointment today should free the NAMA CEO up – according to reports last year, Brendan was putting in 75 hour weeks so this appointment should allow greater focus on the challenges facing NAMA as it continues deeper into its asset management phase.
NAMA Wine Lake 
KPMG’s view of Irish Nationwide Building Society in November ’08 http://tinyurl.com/ccldju3
@ Conor The M J Wallace accounts you linked to on Twitter for 2007 (https://www.documentcloud.org/documents/367589-m-j-wallace-accounts-2007.html) look quite interesting.
I know that there is an obligation under accounting rules to revalue properties held for investment purposes annually, but Note 14 suggests he revalued his investment properties by 54% in the y/e 31/8/2007. Note 18 tells who did the original valuation, but does not tell who revalued them for the purposes of the 2007 accounts. One wonders was it the directors?
This is particularly worrying as the largest positive item on the balance sheet is work in progress. Without the very generous revaluation the balance sheet would have looked very weak The accounts were approved “by the board” in January 2008. Prices were already falling at that stage.
Looking at the Note 10, he does appear to have been up to date with his taxes in 2007. However since he was probably claiming VAT refunds for much of time, this is not surprising, considering the increase in the WIP during the year.
Also, is it just me or do the two signatures look strangely similar?