Arunma Oteh
Former Director-General of the Securities and Exchange Commission (SEC), Ms
Arunma Oteh, has been appointed Vice
President and Treasurer of the World Bank. Announcing the appointment in a
press release yesterday, World Bank President, Jim Yong Kim, said, “I am
pleased to announce the appointment of Arunma Oteh as VP and Treasurer of the
World Bank. Ms. Oteh was selected for
this position through an international competitive search. Her appointment is
effective from September 28, 2015.” Yong went on to reel out Aruma’s profile.
Said he:
“Arunma, 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. She was a member of the Board of the
International Organization of Securities Commissions (IOSCO) and the
Chairperson of the Africa Middle East Regional Committee of IOSCO.
“Prior to joining
the Securities and Exchange Commission (SEC) of Nigeria, Arunma was Group Vice
President, Corporate Services, at the African Development Bank Group (AfDB). In
this role she oversaw a number of departments, including human resources,
information and communications technology, and institutional procur-ement. From 2001 to 2006 she held the role of AfDB
Group Treasurer, where she led AfDB’s fund-raising and capital market
activities across the world. Earlier roles at the AfDB, which she joined in
1992, included trading room management, investment portfolio coverage, and
public sector lending. She also held other positions in capital markets and
lending during the course of her career at the AfDB. Arunma began her career in
1985 at Centre Point, where she executed debt and equity offerings in the
Nigerian capital markets.
“She earned her
Bachelor of Science in Computer Science from the University of Nigeria and her
Masters of Business Administration from Harvard University.
“As VP and
Treasurer, Arunma will manage and lead a large and diverse team responsible for
managing more than $150 billion in assets. Her top priorities will be to:
(i) 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.”