The World Bank has announced the appointment of the immediate past Director-General of Nigeria’s Securities and Exchange Commission (SEC), Mrs Arunma Oteh as a Vice President and Treasurer.
According to a statement released by the bank in Washington, Mrs Oteh in her new role as Vice President and Treasurer would manage and lead the diverse team responsible for managing more than 150 billion dollars in assets worldwide through engagements with public and private sector institutions.
The statement said she was selected to the position ”through an international competitive search” and would be assuming office effective September 28, 2015
Read the full statement by the World Bank below:
Arunma Oteh, Vice President and Treasurer of the World Bank Date: July 23, 2015.
Mrs Oteh, a Nigerian national, was most recently the Director General (DG) of the Securities and Exchange Commission (SEC) of Nigeria. She was 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.
The former DG of Nigeria’s SEC 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 SEC of Nigeria, Mrs Oteh 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.
Mrs Oteh also held other positions in capital markets and lending during the course of her career at the AfDB.
She began her career in 1985 at Centre Point, where she executed debt and equity offerings in the Nigerian Capital Markets.
The Former DG of Nigeria’s SEC 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, Mrs Oteh would manage and lead a large and diverse team responsible for managing more than $150 billion in assets.
Her top priorities would 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 in her capacity as one of the World Bank’s key representatives, with outside stakeholders including Global Private Sector Financial Institutions, the financial media, sovereign debt and reserve managers in client countries, as well as ratings agencies.
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.
Mrs Oteh was selected to the position through an International Competitive Search. Her appointment is effective on September 28, 2015.