World Bank President Jim Yong Kim announced July 24, the appointment of Arunma Oteh as Vice President and Treasurer of the World Bank.
“Arunma has deep knowledge of capital markets and tremendous experience as the former treasurer of one of our partner development banks,â€ Kim said in a statement. “We are very fortunate to be able to recruit an individual of Arunma’s obvious caliber.â€
Ms. Oteh, a Nigerian national, was most recently the Director General of the Securities and Exchange Commission of Nigeria. Appointed to a five-year term by the president of Nigeria in 2010, she led the transformation of the country’s capital markets industry into a major global presence according to WorldBank.org.
As vice president and treasurer Ms. Oteh will manage and lead a diverse team responsible for managing more than $150 billion in assets. Her top four priorities will be to:
Maintain the World Bank’s global reputation as a prudent and innovative borrower, investor, and risk manager.
Manage an extensive client advisory, transaction, and asset management business for the Bank.
Engage 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.
- Collaborate extensively with the finance partners throughout the World Bank Group, including with IFC and MIGA, expanding shared approaches, in particular around innovative financing for development and for key new projects.
Oteh will assume the role on the 28th of September.