The unit will manage the two funds set up by the Government to invest excess tax revenues – the Future Ireland Fund (FIF) and the Infrastructure, Climate and Nature Fund (ICNF).
Ms Brady rejoined the NTMA last year, having previously worked for the National Pensions Reserve Fund (NPRF) within the agency between 2004 and 2007.
Most recently she has been deputy director and head of investment at the Ireland Strategic Investment Fund (ISIF).
She previously held senior capital markets roles with Davy, where she was director of institutional consultancy services, and with Acuvest.
In a statement, NTMA said her appointment follows a recruitment process for the newly created job, which was advertised publicly and also open to external candidates.
Rebekah brings exceptional levels of investment and leadership experience to this role
Frank O’Connor, the chief executive of NTMA, said: “This is a very important appointment for the NTMA as we have been charged with complex, high-value work on behalf of the State to manage and invest these funds. Rebekah brings exceptional levels of investment and leadership experience to this role and I wish her every success.”
The purpose of the Future Ireland Fund is to pay for the additional healthcare and pension costs that will be needed from 2041 onwards due to Ireland’s ageing demographics.
The ICNF is designed to bolster government expenditure if there is a significant deterioration in the economic or fiscal position of the State, and will be assigned to some environmental projects between 2026 and 2030.
By the end of this year the two will have combined assets of over €10bn.
Mr O’Connor has previously said that a low-risk investment strategy would be taken for the first six to nine months with the two long-term savings funds. The initial investments went into low-risk bonds and cash. Ms Brady’s role will be to devise a long term investment strategy.
The NTMA has also said the investment strategy will stay within the existing environmental, social and governance (ESG) parameters that are laid down for ISIF.
An investment committee is being set up to oversee the funds, and the number of NTMA board members has increased by two to reflect the extra workload. Mr O’Connor has said the agency would take some time to appoint the new investment committee, and it might have an international dimension.
