International development banker James P. Scriven appointed IIC General Manager

10/05/2015

The Inter-American Investment Corporation (IIC) today announced that, by unanimous decision, its Board of Executive Directors has appointed international development banker James P. Scriven as its new General Manager.

Mr. Scriven will oversee the implementation of the IIC’s expanded mandate under a renewed vision for private sector operations endorsed by shareholders. Last March, the Board of Governors of the Inter-American Development Bank and the IIC approved the consolidation of the IDB Group’s private sector activities into the IIC. Effective January 1, 2016, the IIC will offer a full array of private sector products and services previously offered across the IDB Group.

“James Scriven is a proven leader with experience that ranges from the complexities of mortgage banking in Argentina to the development of new financial services for the private sector in Africa, Asia and Latin America,” said IDB President Luis Alberto Moreno. “He has a record of fostering innovative approaches to meet the fast-changing demands of emerging markets. I look forward to working with James in this new and exciting chapter in the IDB Group’s history.”

Mr. Scriven, a dual Argentine/British citizen, has been Vice President of Corporate Risk and Sustainability at the International Finance Corporation (IFC) since 2014. Recent positions at the IFC include Global Industry Director of Financial Markets (Financial Institutions, Insurance Companies, Microfinance, and Private Equity Funds), where he was responsible for a significant portion of the IFC’s portfolio.  Between 2005 and 2010 he held the positions of Director for Global Financial Markets for Sub-Saharan Africa and Latin American and the Caribbean, and Manager of Latin America and the Caribbean.  Before joining the IFC, Mr. Scriven was Chief Financial Officer of Banco Hipotecario in Argentina.

President Moreno expressed appreciation for the work of the IIC’s outgoing General Manager, Carl Muñana. “I want to thank Carl for his leadership over the past three years. He has guided the institution, strengthening and consolidating its footprint in the region, supporting a culture of innovation, as well as preparing it for the process of transformation and consolidation of the IDB Group for non-sovereign guaranteed operations.”

Mr. Scriven’s appointment, effective on November 1, 2015, was the result of an open competitive international selection process, which included review by a high-level advisory group of senior IDB Group officials and external experts with long experience in the financial industry, business in Latin America and the Caribbean and deep understanding of the work of the IDB Group.

Mr. Muñana has decided to step down on October 15, 2015. In accordance with IIC policies, the Chief Operating Officer, Mr. Orlando Ferreira, will be acting as General Manager from October 16 to October 31, 2015.

About the IIC

The Inter-American Investment Corporation (IIC) is a multilateral investment institution that is part of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote economic development in its regional developing member countries by fostering the expansion and modernization of private enterprises in a manner complementing the activities of the IDB. In March of 2015, the Board of Governors of the IDB and IIC approved the consolidation of the IDB Group’s private sector activities into the IIC. Effective January 1, 2016, the IIC will offer a full array of private sector products and services previously offered across the IDB Group.