John Mulchay - Nama to Board of Iput

rodento

He will turn 65 in 2014 and is understood to have no plans to take up any new role after he leaves the agency.

http://m.independent.ie/business/irish/namas-john-mulcahy-to-resign-from-agency-29658078.html

He now has joined Iput

http://www.irishtimes.com/business/sectors/commercial-property/former-nama-executive-john-mulcahy-joins-board-of-iput-1.1835387

Property pension fund IPUT recently shelled out a further €63 million on two Dublin office blocks

Anyone think is this appropriate or acceptable

InReality

Its pretty bad. There should be a 2/3 year gap before that sort of move or perhaps even banned outright.

I read a claim recently that Ireland either doesn't bother to enforce rules around these issues or they make the rules so weak that they are pointless.

Evidence for point 2 here.

Sand

If you want to get knowledgeable, qualified people in the field, you have to recruit from the sector. And after they leave their state jobs, they're not going to work flipping burgers in McDonalds. Probably wouldnt join in the first place if that sort of condition was applied. [ I should stress here - I think NAMA was a terrible idea, and its had terrible effects on the Irish economy. But if you acknowledge it exists, then the above follows].

But it is true that stronger rules are needed around who they can work for within a time limit, what sort of deals they can work on, and hiring people out of state jobs ought to attract attention on any work that company does that could possibly benefit from insider knowledge. Not additional attention - just focused attention. Of course, that's exactly why it wont happen - not in the interest of those who benefit.

In Ireland we don't bother with building strong institutions of governance. We just presume individuals will be angels. And if they're not, we blame the voters who didn't elect them.