Former Director-General of the Security Exchange Commission, SEC, Arunma Oteh, has been appointed as the Vice President and Treasurer of World Bank.
President of Word Bank, Jim Yong Kim, confirmed the appointment of Oteh in a press statement.
“I am pleased to announce the appointment of Arunma Oteh as VP and Treasurer of the World Bank,” Kim disclosed. Her appointment will take effect from September 28, 2015.
It was explained that Oteh will “manage and lead a large and diverse team responsible for managing more than $150 billion in assets.
“Her top priorities will be to:
- maintain the World Bank’s global reputation as a prudent and innovative borrower, investor and risk manager;
- (ii) manage an extensive client advisory, transaction and asset management business for the Bank;
- (iii) engage, in her capacity as one of the World Bank’s key representatives, with outside stakeholders including global private sector financial institutions, the financial media and the sovereign debt and reserve managers in client countries, as well as ratings agencies; and
- (iv) collaborate extensively with the Finance Partners throughout the WBG, including with IFC and MIGA, expanding shared approaches, in particular around innovative financing for development and for key new projects.
It was gathered that the former NSE boss was chosen for this position through an international competitive search.
