Former IFC exec joins World Bank’s MIGA

The Multilateral Investment Guarantee Agency has recruited a new vice president and COO to succeed Michel Wormser, who retired last year.

The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank, has appointed Karin Finkelston as vice president and chief operating officer (COO), the institution said in a statement.

Finkelston succeeds Michel Wormser, who retired in 2014, a MIGA spokesperson told Infrastructure Investor.

In her new role, Finkelston will oversee MIGA operations and handle a number of cross-cutting corporate initiatives, according to the statement. She will be based in Washington DC but will also spend time in Asia.

“MIGA stands to benefit from Karin’s insights and experience catalysing private enterprises and boosting investment in places that need it most,” said Keiko Honda, MIGA’s executive vice president and chief executive.

Finkelston joins MIGA from another World Bank entity, the International Finance Corporation (IFC), where she started in 1996 as an investment officer. She’s held various roles at the organisation during her 20-year tenure, most recently serving as vice president for global partnerships, a role that entailed leading efforts with governments and private partners to create high-impact business opportunities.

Her other roles at the IFC included that of vice president for Asia Pacific, director for East Asia Pacific, and country manager for China and Mongolia.

The World Bank Group established MIGA in 1988 to promote foreign direct investment in emerging economies in order to support growth and reduce poverty.