Frank O’CONNOR

Bio

Frank O’Connor is the Chief Executive of Ireland’s National Treasury Management Agency (NTMA), a position he has held since July 2022. He previously served as Director of Funding and Debt Management at the Agency. He joined the Funding and Debt Management Unit in 2012 and became its Director in 2014. Prior to that, he was Head of Treasury at the National Asset Management Agency.

Before joining the NTMA, Frank O’Connor spent 20 years in senior roles at AIB, including Head of Trading in AIB’s Primary Dealer Bond Unit in the late 1990s. From 2004 to 2010, he served as Head of Wholesale Treasury at Bank Zachodni WBK (now Santander), based in Warsaw, Poland.

He holds a Master of Science in Investment & Treasury from Dublin City University and a Bachelor of Science in Management from Trinity College Dublin. He is also a Fellow of the Association of Chartered Certified Accountants (FCCA) and a graduate of the Institute of Bankers in Ireland (MIB Grad).

The NTMA manages a complex portfolio of public assets and liabilities on a commercial basis on behalf of the Irish State. This includes sovereign debt of over €200 billion, with maturities extending up to 100 years.

It also manages approximately €28 billion in sovereign investments across three major funds: the Future Ireland Fund, a long-term fund of €14 billion designed to support State expenditure from 2041 onwards; the Infrastructure, Climate and Nature Fund, a highly liquid €4 billion fund intended to support environmental projects or State finances in the event of an economic or fiscal downturn; and the Ireland Strategic Investment Fund (ISIF), a €10 billion sovereign development fund that invests commercially in Irish businesses and projects to support economic activity and employment.

In addition, the NTMA manages clinical, personal injury, and damages claims against the State, with an estimated liability of around €5 billion across more than 10,000 active claims. It also administers Ireland State Savings, a public retail savings programme totalling €24 billion.

Finally, it provides corporate finance advisory services to the Irish Government in relation to 24 State-owned companies and plays a key role in delivering major public infrastructure across the housing, education, justice, and health sectors.