Global Bank President, Ron Nechemia, Appointed Former Division Chief of the International Monetary Fund (IMF), Roger A. Burston, as an Advisor to the Chairman and Assistant Corporate Secretary

Mr. Roger A. Burston, a British national with highly effective managerial skills and substantial Human Resources and Compensation management experience within the private sector and three international financial organizations, namely the European Bank for Reconstruction and Development (EBRD), the International Monetary Fund (IMF) and the Asian Development Bank (ADB), and in the financial private sector, was appointed by Global Bank President, Mr. Ron Nechemia, as Human Resources Advisor to the Chairman and Assistant Corporate Secretary for Global Bank Group, where he will be working closely with the President on building the leadership of the Bank.

Roger A. Burston the Human Resources Advisor to the Chairman and Assistant Corporate Secretary for Global Bank (Photo: Business Wire)

The highlights of Mr. Burston’s career include designing and implementing human resource policies at the European Bank for Reconstruction and Development, including during its start-up phase, organizational design and restructuring implementation in the International Monetary Fund; senior Compensation & Benefits positions; and a senior institutional liaison role as the Assistant Corporate Secretary for the Asian Development Bank.

“Roger brings proven expertise in helping international financial institutions (IFI) optimize organizational performance through the use of effective human resources practices,” said Ron Nechemia, President and Chairman of Global Bank Board of Governors. “Roger has a strong background in organizational development, global expansion and driving large-scale complex change that will complement our ongoing efforts to build a long-term leadership position in development banking. Mr. Burston’s appointment will support Global Bank’s efforts to attract, develop and retain the best talent in the international development, economic management and investment industry.”

Mr. Burston will be responsible for the management of the Office of The Secretary, including senior management and Board appointments; Human Resources Business Partner support to the Executive Board members; compensation policy/reviews in respect of the President, Vice Presidents and Board of Directors; succession management, knowledge retention, and other enterprise-wide initiatives; sensitive Global Bank membership issues with government officials; support to the administrative tribunal process; and appointment of, and liaison with, the tribunal judges.

Mr. Burston said, “Systems will be put in place for the evaluation of the performance of the President by the Executive Board, and of the Executive Board by (likely a sub-committee of) the Board of Governors and all other senior members of the Bank. This would mirror the recommendations of the various panels on accountability for multilateral development bank (MDB) boards.” And he added, “With regard to the selection process of heads and senior leadership of the organization, it is clear that we need to make it open, transparent and merit-based.”

About Global Bank Group

The sponsor of Global Bank is the EurOrient Financial Group (EurOrient). Founded in 1988, the EurOrient is a private sector global development finance institution accredited by United Nations General Assembly on Financing for Development. Its mission is to support the economic and social development efforts of the less developed countries as they seek achievement of internationally agreed upon development goals, including those contained in the Millennium Declaration, and to implement the recommendations of major United Nations conferences and summits. The goals lay out a blueprint for the EurOrient Financial Group, setting its priorities and measuring its results. EurOrient’s strategic priorities are aligned to advance the United Nations’ global priorities.

EurOrient Financial Group represents, develops and supports the collective interests of Global Bank and any and all of its business interests globally. Global Bank is a full-fledged private sector global development bank in the formation (the “Bank” or the “Global Bank”) – the world’s second global development bank – positioned next to the World Bank Group and next to the preeminent regional development banks (MDBs). It combines the characteristics of a multilateral development bank with those of a private financial institution. The main objective of Global Bank is to reduce poverty in middle-income countries and creditworthy poorer countries by promoting sustainable development. To this end, The Bank finances primarily public sector infrastructure projects and sustainable development through the provision of sovereign loans to developing countries. The Bank’s financial objective is not to maximize profit, but to earn adequate income to ensure its financial strength and to sustain its development activities.

More detailed information can be found on the EurOrient’s website: http://www.eurorient.org/.

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