The Government has appointed the Progressive Democrats founder and former party leader, Mr Des O'Malley, to the board of the European Bank for Reconstruction and Development.
Mr O'Malley, who retired from the Dáil at the general election in May, will take up the full-time post of alternate director of the bank in mid-July. The position commands a salary of about €116,000 net of tax.
When contacted last night, Mr O'Malley said he had not sought the job, but decided to take it when the Government offered it to him.
A solicitor by profession he spent almost his entire career in politics. Aged 64, he was a TD for 34 years and a Minister for 13 years.
His appointment is for three years. Asked about his period in retirement, Mr O'Malley said: "I enjoyed it so I did but it only lasted less than a year." He added: "It's a full-time job and I'll have to spend most of my time in London. I'm not awfully pleased about that aspect of it so I'll be coming home at weekends."
Mr O'Malley said he spends most of his time in Dublin and would retain an apartment in the city. He is expected to take an apartment in London.
The bank was established to aid former eastern bloc states in their transition to Western-style economics.
Its core business is project finance and it has committed more than €21.5 billion to about 900 projects in eastern Europe and the former Soviet Union.
Mr O'Malley said there would be some travel as part of his duties "but I don't want to overdo it".
One of most vehement opponents of Mr Charles Haughey in Fianna Fáil, he broke with the party in 1985 to establish the PDs. He was party leader until 1993, when he resigned. His last Cabinet position was Minister for Industry and Commerce in 1989-1992, in coalition with Fianna Fáil.
He replaces an accountant with Fianna Fáil connections, Mr Michael Flynn, who has represented Ireland on the board of the bank since July 2000.
Mr Flynn was a partner in the accounting firm Somers & Associates and a director of ICC Bank. Though his term expires at the end of the month, he will remain in the post until July.
Ireland shares a constituency on the board of the bank with Denmark. Its representative, Mr Torsten Gersfelt, who is currently alternate director, becomes executive director in May on the joint nomination of Ireland and Denmark.
