indica News Bureau-
The World Bank Group has hired an Indian-origin woman to serve as managing director and chief financial officer (CFO).
World Bank Group President David Malpass announced Friday the hiring of Anshula Kant, who is managing director at State Bank of India, where she previously also served as CFO.
Details of her hiring have not been announced.
Kant, a native of India, is a graduate in Economic Honors from Lady Shri Ram College for Women and a post-graduate in Economics from Delhi School of Economics, and brings more than 35 years of expertise in finance, banking, and innovative use of technology through her work as CFO of the State Bank of India (SBI).
“I am very pleased to appoint Anshula Kant as World Bank Group Managing Director and CFO. Anshula brings more than 35 years of expertise in finance, banking, and innovative use of technology through her work as CFO of the State Bank of India,” Malpass said in the press release. “She’s excelled at a diverse array of leadership challenges including risk, treasury, funding, regulatory compliance and operations. I look forward to welcoming her to our management team as we work to increase our effectiveness in supporting good development outcomes.”
Established in 1944, the World Bank Group. headquartered in Washington, D.C., is an international financial institution, more than just an ordinary bank, offering financial and technical assistance to developing countries around the world to reduce poverty and support development.
As managing director and chief financial officer, Kant will be responsible for financial and risk management of the World Bank Group, reporting to the president, according to the press release. Among other key management duties, her work will include oversight of financial reporting, risk management, and working closely with the World Bank CEO on the mobilization of International Development Association (IDA) and other financial resources.
As CFO of SBI, Kant managed $38 billion of revenues and total assets of $500 billion.
According to the press release, during her leadership, Kant has greatly improved the capital base and focused on the long-term sustainability of SBI within her mandate.
At SBI, she has been managing director and member of the board since September 2018. With direct responsibility for the SBI’s Risk, Compliance, and Stressed Asset Portfolio, Kant led the creation of investment opportunities while empowering risk management throughout the bank. She held several positions across the organization and helped navigate a diverse array of leadership challenges.