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Arunma Oteh becomes New World Bank VP & Treasurer
Ms Arunma Oteh: A big step forward as she become new World Bank VP & Treasurer

Arunma Oteh becomes New World Bank VP & Treasurer

Barely a few months after leaving her position as the Director-General of Securities and Exchange Commission of Nigeria, Ms. Arunma Oteh has been appointed as the Vice President and Treasurer of the World Bank.

In a letter signed by World Bank President, Jim Yong Kim, Ms Oteh was selected to the position through an international competitive search and her appointed is effective from September 28, 2015. 

A joyous Oteh took to twitter to announce and celebrate the great news ” “A great time to join the World Bank given the innovative solutions it is deploying to end extreme poverty and ensure shared prosperity. Thanks for your kind messages for my appointment as VP and Treasurer World Bank. Such an honor, so grateful to President Kim and the Board of World Bank.

Arunma, was appointed by President Goodluck Jonathan in 2010 on a five year-term where she led the transformation of the  country’s capital markets industry, giving it a 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).

According to the statement  “. “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 procurement. From 2001 to 2006 she held the role of AfDB Group Treasurer, where she led AfDB’s fundraising 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.

 

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