IFC: Woicke sweeps in a new era
World Bank president James Wolfensohn has been battling to bring his organization up to date. Most recently and significantly, on January 1 Peter Woicke, an investment banker from JP Morgan, took the helm at the International Finance Corporation, the World Bank affiliate responsible for direct lending to private companies in developing countries.
Woicke, in an unprecedented move, was almost immediately appointed as a managing director of the World Bank Group with responsibility for guiding its private-sector work.
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