Irish Pick Former Stockbroker O’Kelly to Lead Debt AgencyJoe Brennan and Donal Griffin
Conor O’Kelly, the former head of Irish securities firm NCB Stockbrokers, will take over at the nation’s debt agency as John Corrigan retires as chief executive officer, the finance ministry said.
O’Kelly, 54 and deputy chairman of Investec Plc’s Irish unit, will become chief executive at the National Treasury Management Agency after Corrigan steps down in January, the Dublin-based ministry said in an e-mail statement.
After joining the agency in 1991 from Allied Irish Banks Plc, Corrigan was appointed to lead the NTMA 18 years later, as the country’s lenders neared collapse. While the nation fell into an international bailout in 2010, Corrigan helped seal the Ireland’s exit from the program by arranging bond sales before the government left the bailout.
In 2003, O’Kelly led an executive buyout of NCB, which was sold to Investec Plc in 2012. Before joining NCB, where he was also fixed income head, O’Kelly worked in investment banking with Barclays Plc’s investment-banking unit in London, Tokyo and New York, according to the ministry.
O’Kelly’s “market and international experience will add increased credibility to the work the NTMA has done in promoting the Irish story,” said Colm Ryan, head of fixed income at Goodbody Stockbrokers in Dublin.
The country’s 10-year bond yield, which peaked at 14.2 percent in July 2011, has since dropped to 1.46 percent, close to a record low.