The National Asset Management Agency (NAMA) said today it has completed the transfer of the first tranche of loans from Anglo Irish Bank.
It also announced a number of senior appointments at the agency.
Nama has received the transfers from Anglo at a discount of 55 per cent, it said in a statement released this afternoon.
Overall, loans with an aggregate nominal value of €15.3 billion have so far been transferred to date from AIB, Bank of Ireland, Anglo Irish Bank, Irish Nationwide and EBS. The consideration paid was €7.7 billion, an overall discount of 50 per cent.
Nama announced that Graham Emmett has been appointed head of lending at the agency. Mr Emmett joins Nama after a period working with Ernst & Young in London dealing with the liquidation of the real estate loan book of Kaupthing Singer & Friedlander. He has also worked with Rankvale European Property Investors, Goldman Sachs, Delancey Estates and Robert Fleming & Co.
Frank O’Connor has been appointed head of treasury at the agency. He has worked in a variety of roles within AIB since 1990 including the head of Trading in the bank's Primary Dealer Unit. For the past six years he has held the role of head of Wholesale Treasury, BZ WBK in Poland.
Nama chairman Frank Daly said that the latest appointments complete the NAMA senior executive team and added they will play a significant role in setting up and managing the agency in the years ahead.