Indian banker Anshula Kant was on Friday appointed as the World Bank Group's Managing Director and Chief Financial Officer, according to the group's President David Malpass. Kant is presently serving as the Managing Director of the State Bank of India (SBI), where she previously served as Chief Financial Officer.
"I am very pleased to appoint Anshula Kant as World Bank Group Managing Director and CFO. Kant 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 an official 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," he added.
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. 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 mobilisation of IDA and other financial resources, as per the press release. As the CFO of SBI, Kant managed USD 38 billion of revenues and total assets of USD 500 billion. She greatly improved the capital base and focused on the long-term sustainability of SBI within her mandate. She has been a 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," the World Bank release stated. Kant, an Indian native, is a graduate in Economic Honours from Lady Shri Ram College for Women and a Post-Graduate in Economics from Delhi School of Economics. Her start date is yet to be announced. (ANI)
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