Former minister of finance, Ngozi Okonjo-Iweala, has been named an independent non-executive director at Standard Chartered Plc, a British multination
Former minister of finance, Ngozi Okonjo-Iweala, has been named an independent non-executive director at Standard Chartered Plc, a British multinational banking and financial services company headquartered in London, England and with presence in 70 countries. Her appointment is effective from November 1, 2017.
With 30 years of economic development and financial expertise, 63 year old Ngozi Okonjo-Iweala is an internationally renowned economist who has played an important role in public finance transparency and has in-depth knowledge of Africa and international affairs. She will earn £130,000 per annum for her expertise in financial and development financing.
According to José Viñals, the group chairman of Standard Chartered, “Ngozi is a globally recognised African and international figure. She has significant geopolitical, economic, risk and development experience and expertise at a national governmental level and in international organisations, which will provide significant insight and value to the Board. She also has deep knowledge of Africa as well as emerging and developing markets. I am delighted to welcome her to Standard Chartered.”
A Bachelor’s degree holder from Harvard University as well as a Masters and PhD from Massachusetts Institute of Technology, Ngozi Okonjo-Iweala spent 25 years working at the World Bank in various positions before leaving in 2003 to serve as the finance minister of Nigeria from 2003 to 2006. She returned to the World Bank in 2007, serving as a managing director until 2011, when she was appointed to the role of minister of finance and coordinating minister of economy in Nigeria.
In addition to spearheading Nigeria’s successful program to obtain debt relief and is credited with developing reforms that helped improve governmental transparency to stabilise and grow the Nigerian economy, Ngozi Okonjo-Iweala sits on a number of prestigious international advisory boards including the Asian Infrastructure Investment Bank and is Chair of the Global Alliance for Vaccines and Immunizations (GAVI).