Independent investor Sunil Sabharwal has become the first Indian American to occupy a key administration post as Alternate Executive Director at the IMF. Mr. Sabharwal is re nominated by US President Barack Obama. He was 1st nominated in April 2014 and then renominated to the position of Alternate Executive Director of the International Monetary Fund (IMF).
The post of Alternate Executive Director is one of the most powerful position in the IMF considering more than the 16.81 % voting share (highest) of US in the total IMF voting share.
Prior to this appointment Mr. Sabharwal has served as board chairman of Ogone, a European e-commerce payment services firm, from 2011-13. He had also worked at the European Bank for Reconstruction and Development as Principal Banker from 1992 to 1996. Later he moved at GE Capital and held several positions including Managing Director (MD) from 1997 to 2003. Mr. Sabharwal also had served as Senior Vice President of Strategic Investments at First Data Corporation/Western Union from 2003 to 2006. Since 2006, he has been an independent investor in the payments sector.
Mr. Sabharwal was born to an Indian father and a Hungarian mother in New Delhi and later moved to Budapest, Hungary. He has a BS from Ohio State University and an MS from the London Business School.
Extra Info :
IMF Director : Christine Lagarde
IMF Headquarter : Washington D. C , US
So lets discuss some questions related to this article which can be asked in the upcoming exams :
1. Name the person who has been re appointed as Alternate Executive Director at IMF ?
2. Firstly, In which year he was appointed as Alternate Executive Director at IMF ?
3. Who is the present IMF Director ?
Courtesy : Economic Times