Irvine, CA -October 22, 2014 - William R. Thomson, the former Vice President at the Asian Development Bank (ADB),will join Global Bank as Senior Advisor to the President, Ron Nechemia, and as a member of the Global Bank International Advisory Board Council.
Mr. Thomson first represented the United States on the Board of Directors of the ADB. Subsequently, he became vice president in charge of the institution's programs for 30 borrowing countries. He also had responsibility for the Bank's economics functions. Funding for the lending programs to infrastructure, economic restructuring and social sectors. During this period the bank began its private sector operations and the creation of equity funds including the first Asian Infrastructure Fund.
At ADB, William restarted and expanded the China program and commenced operations in Vietnam, Cambodia and Central Asia, along with major economic restructuring programs for Indochina and India. During this period the ADB began its private sector operations which included the creation of equity funds, one of which was the first Asian Infrastructure Fund.
Subsequent to the ADB, he became a senior adviser to Franklin Templeton in Asia. He created the Siam Recovery Fund, a Thai investment fund, in the wake of the Asian financial crisis and advised Asian Governments on financial sector issues. He was also the Chairman of Momentum Asia, a manager of alternative investment products which was sold to a unit of UniCredito. He frequently writes and publishes on international economic and financial issues. He has experience in Africa and the Middle East.
"William's extensive experience in the developing world will greatly benefit the Global Bank Group," said Ron Nechemia, Global Bank Board of Governors Chairperson. "He has a deep knowledge of lending and investment programs and broad experience in policy coordination, international trade, finance and diplomacy and managing complex relationships with multilateral organizations." Mr. Nechemia added, "William has the trust and respect of many officials around the world."
Mr. Thomson said, "It is a great honor for me to have this opportunity to contribute to the very important mission of Global Bank Group in changing the world. I am looking forward to advising them on how to approach the huge political and economic changes brought about by globalization."
The International Advisory Board Council of Global Bank is a subcommittee of the Board of Governors. Its mandates include delivering a customized package of top quality global knowledge and financial services in real time to a growing range of clients--among them poor countries, fragile and small states, middle income countries and the private sector. It is also charged with addressing the need to mobilize support for the Bank's institutional development agenda and foster the current and future expansion needs of the rapidly growing organization. It assists the Board as well as the president and other officials in developing innovative, scalable approaches to development that foster sustainable economic growth and good governance while at the same time searching for areas of enhanced collaboration involving the Bank and the public and private sectors. It also develops best practices for research and development in low-and-middle-income economies, searches for long-term solutions on issues central to strategic planning for Bank development, recommends concrete steps for enhanced collaboration with the public and private sectors and solicits public input.
About Global Bank Group
The sponsor of Global Bank is the EurOrient Financial Group. Founded in 1988, EurOrient is a private sector global development finance institution accredited by the 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. 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 credit worthy 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.
