- The following three appointments have been made to the SBCI Board for a period of four years:
- Tom McAleese
- Barbara Cotter
- AJ Noonan
- The following three nominees will be appointed to the SBCI board for a period of five years:
- Eilis Quinlan
- Richard Pelly
- Rosheen McGuckian
Nick Ashmore continues to be an ex-officio director as a consequence of being the Chief Executive Officer of the SBCI. Ann Nolan (Department of Finance) and Conor O’Kelly (NTMA) have also been reappointed as ex-officio members for a period of three years. As a result of these appointments all nine SBCI Board positions have now been filled.
The selection process for the appointments was undertaken in accordance with the “Guidelines for appointments to State Boards” published by the Government in November 2014. It was managed by the Public Appointments Service and there was a significant level of interest in the posts advertised.
Speaking on the board appointments, Minister for Finance Michael Noonan stated:
“The SBCI has been brought from an initial concept to a reality in little over twelve months thanks to the efforts of the Department of Finance and the NTMA. There is now €800 million available for SMEs loans through the main on lenders, AIB and Bank of Ireland. The appointment of an experienced board to provide strategic direction to the SBCI is the next important step in the project. I am delighted with the high caliber of candidates being appointed to the board and I would like to thank the Public Appointments Service for overseeing the selection process”.
Mr Conor O’Kelly, Chairperson of the SBCI, also welcomed the appointments stating:
“Today’s appointments by the Minister will bring a wide range of specialist SME and lending knowledge to the SBCI Board. Their expertise will be hugely valuable to the SBCI in its work to help SMEs with their financing and make it easier for them to support jobs and grow their business.”
Ends
24 March 2015
Notes for Editor
Appointment of SBCI Board
- The selection process for the appointments was undertaken in accordance with the “Guidelines for appointments to State Boards” published by the Government in November 2014. It was managed by the Public Appointments Service and there was a significant level of interest in the posts advertised.
- Vacancies on the SBCI Board were advertised on stateboards.ie. The closing date for applications was the 6th February 2015.
New Board Members
In order to ensure that the Board of the SBCI can adequately represent the interests of SMEs, the Department, with the help of the Public Appointments Service, sought four directors with extensive experience of at least one area listed below;
- Senior level management in the banking and finance sector with an SME focus, ideally with previous executive level operations and/or lending background in the banking sector,
- Senior level management of non-bank providers of finance,
- Policy experience and wide-ranging comprehension of challenges facing the SME sector,
- Managing and setting up an SME.
Biographies of new board members
Tom McAleese
Tom McAleese has over 29 years’ operational experience in Financial Services holding senior leadership positions in Ireland, the US and UK with roles in banking (wholesale banking and retail banking), private equity and consulting. He is a Managing Director, Country Practice Head for Alvarez & Marsal in Ireland and a member of Alvarez & Marsal’s European Bank Restructuring team. He is responsible for developing the Irish business and his primary focus is on originating and executing restructuring projects in the banking, real estate and corporate sectors across Europe.
Barbara Cotter
Barbara Cotter has been a Partner at A&L Goodbody – one of Ireland’s leading law firms – for over 20 years. Barbara has actively supported numerous business and civic organisations. During her time as a banking lawyer, Barbara supported Irish SMEs, and advised lenders and investors to the SME community. She has volunteered with Suas Educational Development, to support access to education in disadvantaged communities, and Social Entrepreneurs Ireland. Barbara is a member of the Law Society of Ireland’s Education Committee, and has been published in a variety of legal and banking journals. She regularly speaks at seminars and conferences on matters relating to SMEs.
AJ Noonan
AJ Noonan has been Chairperson of the Small Firms Association since 2012. He has been managing director of two SMEs that he established himself over a 25 year period. Initially in Recruitment and laterally in Healthcare and Property through Rhonellen Developments.
Eilis Quinlan
Eilis Quinlan was previously a Chairman and is currently a Director of the Irish Small and Medium Enterprise Association (ISME). She runs her own Accountancy and Audit practice for the last twenty years and is a Fellow of the Association of Chartered Certified Accountants. Since 2011 Eilis has been the Irish representative to the ACCA Global Forum for SMEs. She also represents the ACCA on FEE, the Federation of European Accountants in Brussels. She is a Director of the County Kildare Chamber and Economic Partnership and is on the South Dublin County Council External Audit Committee.
Richard Pelly
Richard Pelly has wide experience of commercial banks in the UK and across Europe, both as a member of the GE Capital European management team, a Managing Director at Lloyds TSB and, most recently, as Chief Executive of the European Investment Fund (EIF), which guarantees and credit enhances the loan portfolios of more than 150 commercial and public banks. As Chairman of Budapest Bank, he was awarded the Hungarian Minister of Economy medal for services to the development of the SME sector.
Rosheen McGuckian
Rosheen McGuckian is group CEO of NTR plc. She has extensive board level experience on both private sector and state sector boards. She has senior executive leadership experience across many business sectors (NTR plc, Greenstar, ESB) as well as in SME and consumer financial services in GE Capital.
Questions and Answers
- What is the SBCI?
A new, strategic SME funding company, the SBCI’s goal is to ensure access to flexible funding for Irish SMEs by facilitating the provision of:
- Flexible products with longer maturity and capital repayment flexibility, subject to credit approval;
- Lower cost funding to financial institutions which is passed on to SMEs;
- Market access for new entrants to the SME lending market, creating real competition.
All of these elements create a more competitive and dynamic environment for SME funding. The SBCI is a vital new part of the country’s financial architecture.
By taking a fresh approach to funding SMEs in Ireland, the long-term potential of the sector to drive economic growth and job creation will be actively supported.
- Were the vacancies on the SBCI Board advertised?
Yes. On foot of the new Guidelines on Appointments to State Board (Department of Public Expenditure and Reform, November 2014) and consultation between the Department of Finance, the Public Appointments Service (PAS), the vacancies were advertised on stateboards.ie in January 2015. The deadline for applications was 6th February 2015.
- Applications were sought from suitable candidates in the following competency areas:
- Senior level management in the banking and finance sector with an SME focus, ideally with previous executive level operations and/or lending background in the banking sector,
- Senior level management of non-bank providers of finance,
- Policy experience and wide-ranging comprehension of challenges facing the SME sector,
- Managing and setting up an SME.
- How many directors are on the SBCI Board?
The Board of the SBCI was established under the Strategic Banking Corporation of Ireland Act, 2014 and provides for a total Board membership of nine, including the Chairperson. Following the six appointments, there are currently no vacancies on the Board.
- What is the remuneration for being a member of the SBCI Board?
In accordance with the Department of Public Expenditure and Reform’s Circular, a Board Member is paid €15,750. Directors who are currently public servants will not receive the fee.
As Ann Nolan, Nick Ashmore and Conor O’Kelly are serving public servants, there will be no fee payable in respect of their directorships of the SBCI.
