(Archived Content)
TG-584
WASHINGTON – The U.S. Department of the Treasury today announced that Ian H. Solomon, Walter C. Jones and Douglas A. Rediker were confirmed Wednesday by the United States Senate to serve as the
U.S. Executive Director to the International Bank for Reconstruction and Development (IBRD), U.S. Executive Director to the African Development Bank (AFDB) and the U.S. Alternate Executive Director to the International Monetary Fund (IMF) Board respectively.
As U.S. Executive Director to the IBRD, Solomon will serve on the Board of Directors, which makes decisions on loan and investment proposals, reviews the policy issues that guide the general operations of the Bank and provides broad oversight of, and guidance to, the Bank's senior management.
Previously, Solomon was Senior Advisor to the Treasury Secretary on international and domestic issues, including the Administration's global food security initiative. From March 2005 through November 2008, Solomon served in then-U.S. Senator Barack Obama's Office as Legislative Counsel for poverty, economic development, government reform, tax, budget, banking and finance issues. Previously, Mr. Solomon was Associate Dean at YaleLawSchool overseeing finance and administration. Solomon was also a consultant with McKinsey & Company, serving global financial institutions, media companies and non-profit organizations.
On the urban economic development front, Solomon served as Chairman of the New Haven Port Authority and as Treasurer to revitalize New Haven's world-renowned Shubert Theater. He directed an initiative to increase small and minority business contracting with the City of New Haven, and worked to create jobs through technology transfer by Yale University. In New York, Solomon advised the CEO of the Upper Manhattan Empowerment Zone, a $300 million economic development fund, and served as Acting Director of its small business lending subsidiary to restructure problem loans. From his time living in South Africa, Solomon co-authored two chapters in `No More Tears…': Struggles for Land in Mpumalanga, South Africa (Africa World Press, 1997). Solomon received his B.A. magna cum laude from HarvardCollege and his law degree from Yale.
As U.S. Executive Director to the AFDB, Jones will represent the United States on the African Development Bank and African Development Fund Boards to promote sustainable development in Africa. He will be responsible for the conduct of the general operations of the AFDB including votes on loan and technical assistance proposals and deciding policy issues that guide the operations of the Bank and its overall direction.
Jones has worked in the areas of international development, business, law and finance for more than 20 years. Over the course of his career, Jones has participated in and managed numerous financial transactions worldwide including in Africa, Asia, South America and Europe. Jones was previously a Senior Investment Officer at the Overseas Private Investment Corporation (OPIC) where he structures debt financings for small and medium enterprise projects worldwide. Earlier at OPIC, Jones was a Manager handling business development in Africa, the Middle East, Latin America and the Caribbean and Asia.
Jones began his professional career as an associate at the law firm of Sidley & Austin. Jones later served as a Legislative Assistant on the personal staff of United States Senator Paul Sarbanes (D-MD, ret.) handling foreign relations and banking matters. Jones was also an international consultant advising clients on financial, debt restructuring and investment matters. Jones later served as General Counsel and head of private equity for Gravitas Capital Advisors. Jones served on several corporate and non-profit boards of directors including most recently on the Board of Directors for Atlas Energy, Inc. (NASDQ), and earlier on the Atlas Energy Resources, LLC (NYSE) Board of Directors. Jones is a graduate of Princeton University's Woodrow Wilson School of Public and International Affairs, Harvard Law School and the George Washington University School of Business and Management.
As the new U.S. Alternate Executive Director to the IMF Board, Rediker will support the U.S. Executive Director in representing and casting the vote for the United States in the Executive Board of the IMF. He will also, with the Executive Director, advise Treasury and Administration officials on U.S. interests in the IMF including the international monetary system, international financial markets and the IMF's lending programs.
Rediker was previously the Director of the Global Strategic Finance Initiative at the New America Foundation, which focuses on the relationship between global finance, capital flows and foreign policy. Prior to his public policy work with the New America Foundation, he lived and worked in Europe for sixteen years, holding senior positions in emerging markets and telecommunications investment banking and private equity for Salomon Brothers, Merrill Lynch, Lehman Brothers and TD Capital.
He began his career as an attorney at Skadden Arps in Washington, DC and New York. As Head of European Emerging Markets Investment Banking during the period of post-communist transition, he originated and executed pioneering transactions and oversaw the establishment and management of operations throughout Central and Eastern Europe and the former Soviet Union. He has worked closely with governments, central banks, financial institutions, and private companies on privatizations, mergers and acquisitions, and debt and equity capital markets transactions. He was named an Emerging Markets Superstar by Global Finance Magazine. He is a member of the Council on Foreign Relations, the International Institute for Strategic Studies and the Royal Institute of International Affairs (Chatham House), and he serves on the advisory board of the Lisbon Council in Brussels. He is also a member of the Board of Trustees of Aidan Montessori School in Washington, DC. He holds degrees from VassarCollege and the Fordham University School of Law and also attended the JohnF.KennedySchool at Harvard University.
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