Former ACCA Global President to speak at today’s ICCSL-BDO Breakfast Forum
BDO Partner and former Chartered Certified Accountants Association (ACCA) Global President Brian Mcenery will speak on the challenges facing the banking sector, at the International Chamber of Commerce Sri Lanka (ICCSL) and BDO Breakfast Forum today, at The Kingsbury Hotel.
Mcenery is a Partner in BDO Ireland specializing in corporate recovery and insolvency. He has led the turnaround of many large enterprises through formal schemes of arrangement. He was selected as the Accountant of the Year in Ireland in 2017. In 2010, Mcenery was appointed to the board of directors of Ireland’s specialist non-performing loan (NPL) bank (NAMA) by the Finance Minister. NAMA became the biggest NPL bank in the world with a balance sheet of 74 billion euros of NPLS.
Mcenery was reappointed as Director of NAMA for a second term and remains Chairman of the Audit Committee. He has previously served on the Credit Committee of the agency as well as currently serving on the Risk and Remuneration Committee of the bank.
In 2018, NAMA completed the deleveraging of its loans and is set to make a profit of between 3 billion euros and 4 billion euros. It has been described as the best-performing NPL bank in the world. The Government of Ireland is seeking to use the experience and track record of NAMA to deal with some other crises in the banking system in Ireland, such as the provision of credit for residential housing.
In 2016, with the onset of Brexit, the Finance Minister asked NAMA to use its lands in Dublin to develop office accommodation. This was very important as many financial service firms have taken up that space as they seek centres in Europe outside London.
Mcenery has a deep interest in banking and the relationship between the role of auditors, regulators, bankers and other stakeholders in ensuring we do not return to another banking crisis.