After an international competitive search The World Bank has announced that Arunma Oteh will join the Bank as Vice President and treasurer in charge of a $150 billion portfolio.
Oteh is the first woman to hold the position of treasurer at the World Bank. She will be leaving her post as Director General of the Nigerian Stock Exchange to join the Bank.
Arunma, a Nigerian national, was most recently the Director General of the Securities and Exchange Commission of Nigeria. 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. She 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 Securities 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 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. She also held other positions in capital markets and lending during 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. (Source: The World Bank)