The World Bank has appointed Nigeria’s former Director-General of the Securities and Exchange Commission (SEC), Arunma Oteh as Vice President (Treasury) of the bank.
She was appointed as Director-General of Nigeria’s Securities and Exchange Commission (SEC) for a five-year term in 2010 and in the process; she transformed the country’s capital market into a major global presence and one of the best in the world.
Ms Oteh 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. She was also the Group Vice President, Corporate Services, at the African Development Bank Group (AFDB).
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.
She 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.
According to a statement by the World Bank yesterday said (Thursday), “As Vice President 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:
1) Maintain the World Bank’s global reputation as a prudent and innovative borrower, investor and risk manager;
2) Manage an extensive client advisory, transaction and asset management business for the Bank;
3) 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
4) 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.”
According to the bank, she was selected to the position through an international competitive search.