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Press Release

Minister Donohoe welcomes appointment of first Chief Executive Officer to HBFI

Published: 30 May 2019
From: Department of Finance

Ms Deering to bring wealth of banking and business experience to new role

The Minister for Finance and Public Expenditure and Reform, Paschal Donohoe T.D., has welcomed the appointment of Dara Deering as the new Chief Executive Officer (CEO) of Home Building Finance Ireland (HBFI).

Ms. Deering was selected as the first CEO of the newly established commercial State body by the Board of HBFI after a competitive open recruitment process earlier this year. Dara has recently served as Executive Director of Retail Banking in KBC Ireland and has formally held a number of high profile roles with EBS Building Society.

The Minister also welcomes the appointment of the former Project Lead of HBFI, Michael Broderick, to the role of Chief Commercial Officer. Michael will also serve as interim CEO until Ms Deering takes up her position in September 2019.

Commenting on the appointments, Minister Donohoe said:

‘I am delighted to welcome the appointment of Dara Deering as the new CEO of HBFI. Ms Deering will bring a wealth of banking and business experience to HBFI as it aims to establish itself as a commercial provider of residential finance. I am confident that Dara will provide strong direction and drive to HBFI over the coming years as it achieves in its objective to provide much needed finance for residential developments through-out the country’.
“I would also like to thank Michael Broderick for his work as Project Lead and his critical role in assisting in the establishment of HBFI. I wish him continued success as he assumes the role of Chief Commercial Officer.”

Ends

30, May 2019

Notes to Editors:

• Home Building Finance Ireland (HBFI) was officially launched in January 2019 and has been established for the purpose of funding the construction of new homes in Ireland. It is a commercial entity, providing finance at market rates for commercially viable residential developments.

• HBFI has been established as Designated Activity Company, with its own board and CEO and the Minister of Finance as its sole shareholder.

• The Ireland Strategic Investment Fund (ISIF) will provide €750 million in funding to HBFI (€20 million in equity and €730 million in loans) which will enable HBFI to finance up to 7,500 residential units over the coming years.

• HBFI will publish information on its lending activities on a half-yearly basis with the first such report to be published in July 2019.