Estimated number of NAMA staff that will transfer into Home Building Finance Ireland

QUESTION

To ask the Minister for Finance the estimated number of NAMA staff that will transfer into Home Building Finance Ireland; the anticipated date of their transfer; and if he will make a statement on the matter.

REPLY

Similar to NAMA and the SBCI, all Home Building Finance Ireland (HBFI) officials will be seconded employees of the NTMA. In order to ensure that HBFI operates in the most efficient manner possible it is envisaged that the NTMA shall first draw upon any relevant resources, services and experience that are already available within the NTMA, including NAMA, when appointing staff to HBFI. NAMA has amassed considerable expertise in this area through the implementation of its existing residential funding programme and this will be a key asset for HBFI.
HBFI has an approved final headcount of 23 staff and is currently in the process of recruiting for 6 positions including the position of HBFI Chief Executive Officer. To date, 16 positions have been filled in HBFI (which will include 9 former NAMA officials). Of these 16 positions, 10 staff have already commenced working for HBFI with a further 6 staff commencing work in the coming weeks.