NAMA’s former Head of Lending, Graham Emmett is a bit of a strange fish. He quit the Agency suddenly last January 2012, and in February 2012 a LinkedIn page emerged (pictured above) with Graham’s apparent profile with a current status of “Gone Fishing and Gardening” and recently he has become a partner in a British company, ICG Longbow, that has done business with NAMA. He spoke with the Sunday Independent in September 2012 and in an article titled “Exec quit NAMA ‘because of state interference’” Ronald Quinlan quoted Graham Emmett saying “It’s not just that. It’s the minimum salary and the requests for [pay] reductions and the long-term incentive plan, the whole gamut. It’s not just to do with bonuses”
Long-term incentive plan?
Apparently not, as yesterday the Sinn Fein finance spokesperson Pearse Doherty asked the Minister for Finance Michael Noonan about any such “long-term incentive plan” and the Minister says NAMA doesn’t “currently” operate any such plan. So, did all the fishing and gardening deaden Graham’s memory of his times in NAMA? Somehow I don’t think we’ve heard the last of the Graham Emmett/NAMA story…
The full partliamentary question is here:
Deputy Pearse Doherty: To ask the Minister for Finance if the National Asset Management Agency operates a so-called long-term incentive plan as part of its remuneration package offered to some employees; if he will provide an outline of the scheme and indicate the sums of money potentially on offer to employees benefiting from such a plan..
Minister for Finance, Michael Noonan : I am advised by the National Asset Management Agency (NAMA) that it does not currently operate what the Deputy describes as a “long-term incentive plan” as part of its remuneration package offered to employees.