IFI governance


New IFC chief appointed from private sector

15 September 1998

The IFC has just announced who will replace its Executive Vice President, Jannik Lindbaek, who is retiring because of ill health at the end of the year.

The successful applicant is Peter Woicke, currently Chairman of J.P. Morgan Securities, Asia.

“I’m upset. I’m upset because some people paint a picture of our institution which is quite simply wrong. I work with 10,000 people in the Bank who are committed to poverty eradication. I have been to 83 countries. I do not go to the beaches, as has been suggested. I go to the slums and to the villages. And I yield moral superiority to nobody”.

James Wolfensohn, speech to Lambeth Conference, July 1998

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