It is understood that the recruitment process for the ISIF role included both internal and external candidates. It is also understood that a selection process for the SBCI’s new chief executive will begin in the first quarter of next year.
Before becoming CEO of SBCI, Mr Ashmore was project director during the lender s establishment phase. Previous to that role, he was a senior member of the team managing the National Pension Reserve Fund (NPRF) from 2006, eventually becoming deputy director in 2011.
The NPRF provided the seed assets for the establishment of ISIF in 2014 after the government at the time decided to leverage the State rainy-day account towards more directed investments.
Irish wealth fund lines up next director
Nick Ashmore
Nick Ashmore was named director at Ireland s sovereign wealth fund, the Ireland Strategic Investment Fund, Dublin, a spokesman said.
Mr. Ashmore will replace
Eugene O Callaghan in the role effective in the first quarter of 2021.
Mr. O Callaghan s plans to step down after 10 years in the role were announced earlier in the year, the spokesman said. Details of the reasons behind his departure could not be learned.
Mr. Ashmore is currently CEO of the Strategic Banking Corporation of Ireland.
ISIF has €10.5 billion ($12.7 billion) in assets.
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