Contacts:
Damian Milverton – 202-473-6735
WASHINGTON, September 9, 2005 — The President of the World Bank Group, Paul Wolfowitz, made the following announcement regarding senior management appointments at the organization. “After informal discussion yesterday with the Board of Directors, I am pleased to announce that I intend to appoint Vincenzo La Via as Chief Financial Officer for the World Bank and Lars H. Thunell as Executive Vice President of the International Finance Corporation. I am delighted that Lars and Vincenzo will be joining my senior management team to assist me in developing an integrated, comprehensive and unified strategy for the Bank Group. Vincenzo La Via, an Italian national, joins the World Bank from Banca Intesa, Italy’s largest bank, where he served as CFO. Previously he served as Director General in the Debt Management Department of the Italian Ministry of the Treasury and as Managing Director of the Italian investment management company, Akros S.p.A. From 1985 to 1991 he worked at the World Bank, joining in the Young Professionals Program, spending a year as advisor to the Italian Executive Director, and then working as Senior Investment Officer in the Treasury Department. Vincenzo holds a degree from the Università La Sapienza in Rome and a PhD in economics from the University of California, Los Angeles. Lars H. Thunell, a Swedish national, joins the organization from SEB, Sweden’s leading international corporate bank, where he served as CEO for the last eight years. In this function, Lars has led major investment activities in the international capital markets and the emerging markets of Europe. Throughout his distinguished career he has served as CEO, President, CFO and other top management positions at large institutions in the finance, insurance and industry sectors in Sweden and Switzerland, including Trygg Hansa, Securum, ABB, and American Express Company. He holds a PhD from the University of Stockholm. Lars and Vincenzo were selected for these positions through an international search and competitive selection process. Once finalized, Lars’ appointment will be effective January 15, 2006, and Vincenzo’s appointment will be effective November 1, 2005. I also want to express my deep appreciation to Assaad Jabre for his exemplary service as Acting Executive Vice President IFC, and to John Wilton for his exemplary service as Acting Chief Financial Officer. I am grateful for their exceptional professionalism and service during this important time of transition.” ### |
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