Former director-general of the Security Exchange Commission (SEC),Arunma Oteh, has been appointed vice-president and treasurer of theWorld Bank.
A press statement obtained from the global financial institution says that Oteh’s appointment has been confirmed by the President of theWorld Bank, Jim Yong Kim.
Arunma, a Nigerian national, was most recently the Director-General ofthe Securities and Exchange Commission of Nigeria. Appointed to afive-year term by the President of Nigeria in 2010, she led thetransformation of the country’s capital markets industry into a major global presence.
She was a member of the Board of the International Organization ofSecurities Commissions (IOSCO) and the Chairperson of the AfricaMiddle East Regional Committee of IOSCO. “Prior to joining theSecurities 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 humanresources, information and communications technology, andinstitutional 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 tradingroom management, investment portfolio coverage, and public sectorlending. She also held other positions in capital markets and lendingduring 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 theUniversity of Nigeria and her Masters of Business Administration fromHarvard University. As VP and Treasurer, Arunma will manage and lead alarge and diverse team responsible for managing more than $150 billionin assets.
Her top priorities will be to; maintain the World Bank’s globalreputation as a prudent and innovative borrower, investor and riskmanager; manage an extensive client advisory, transaction and assetmanagement business for the Bank, engage, in her capacity as one ofthe World Bank’s key representatives, with outside stakeholdersincluding global private sector financial institutions, the financialmedia and the sovereign debt and reserve managers in client countries,as well as ratings agencies; and collaborate extensively with theFinance Partners throughout the WBG, including with IFC and MIGA,expanding shared approaches, in particular around innovative financingfor development and for key new projects.