Updated: Check Post 3 & 4 - 'Ex-Lehman Chief Risk Officer Appointed World Bank Treasurer'

[WillyT]

Ex-Lehman chief risk officer appointed World Bank treasurer
by Gill Montia - BankingTimesUK
June 25, 2011

<snip>

The World Bank has appointed Madelyn Antoncic as its new vice president and treasurer.

Ms Antoncic served as Lehman Brothers’ chief risk officer from 2002 to 2007 and following the collapse of the bank, stayed on for a year as managing director and senior advisor at the Lehman Estate, helping to maximise value for creditors.

Having begun her career as an economist at the Federal Reserve Bank of New York, she has worked for Goldman Sachs in various posts (including head of market risk management), and for Barclays Capital, before joining Lehman Brothers in 1999.

In her new role, Ms Antoncic will be responsible for maintaining the World Bank’s standing in financial markets and for managing an extensive client advisory, transaction, and asset management business.

<snip>

Link: http://www.bankingtimes.co.uk/2011/06/25/ex-lehman-chief-risk-officer-appointed-world-bank-treasurer/

:wtf:

:banghead:

:kick:

[PoliticAverse]

1. Another article that could have come from The Onion... n/t

[LiberalAndProud]

2. That's reassuring.

It would be bad if the World Bank went the way of Lehman Brothers.

:sarcasm:

[BeyondGeography]

3. Says here she was canned in 2007 for red flagging the company

http://www.efinancialnews.com/story/2011-06-24/antoncic-world-bank

Points for that at least.

[WillyT]

4. You Know... You May Be Correct...

<snip>

The truth, though, was somewhat different. Gelband was, according to Lehman insiders, at loggerheads with Fuld's lieutenants. He had railed against a huge buying of a collection of sub-prime mortgage lenders, and also in particular a $15bn property consortium bid, led by Lehman, to buy America's biggest apartment company at the top of the market.

That deal was signed off by the bank's entire executive committee - but not by Gelband, because he no longer sat on it. According to Lehman insiders, he was almost alone among the 26,000-strong organisation in being prepared to stand up to the now disgraced former chairman and chief executive of what has become the world's biggest bankrupt company.

Almost alone, but not quite: there was one other. Madelyn Antoncic, a 12-year veteran of Goldman Sachs, a former board member at Barclays Capital - and a senior figure in the Girl Scout Movement of New York - was the managing director of Lehman's management committee and the firm's chief risk officer. At Lehman, Antoncic reported directly to Fuld. But it is understood that her unease at the huge bets being taken by the bank was something Fuld's entourage were not inclined to hear.

That may partly explain a New York Stock Exchange filing just three months after Gelband was ousted. In effect, it revealed that Antoncic was being sidelined: the statement announced the appointment of a new global head of risk management and that Antoncic was to be given "the newly created role" of global head of financial policy relations.

<snip>

More: http://www.guardian.co.uk/business/2009/feb/15/banking-recession

Thanks for the heads-up!

:hi:

[girl gone mad]

5. 2007 was pretty late in the game to start complaining.

Kind of like deciding you aren't attracted to your mate while you're on your honeymoon.

Let's hope she puts those magical abilities to good use at the World Bank, though. I wish her continued success in failing.