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O'Kelly to take over at NTMA

FORMER NCB Stockbrokers boss Conor O'Kelly is to replace John Corrigan as chief executive of the National Treasury Management Agency (NTMA) when Mr Corrigan steps down in January.

Mr O'Kelly's appointment follows a search process carried out by the NTMA Advisory Committee.

"I am very pleased to be able to appoint an individual of Mr O'Kelly's calibre to lead the NTMA," said Finance Minister Michael Noonan, who thanked Mr Corrigan.

"John has done trojan work in navigating the NTMA through a time of great uncertainty and in managing a very substantial broadening of its responsibilities. In particular, I and the other members of the Advisory Committee would like to thank him for the tremendous commitment and sure-footed manner in which he managed Ireland's full return to the sovereign debt markets."

Mr O'Kelly is deputy chairman of Investec Holdings (Ireland).

In 2003 he negotiated and led a management buyout of NCB, which was subsequently sold to Investec.