NZer to Head World Bank

Banker John Austin has been appointed to the helm of the Washington-based World Bank (one of the world’s largest sources of financial assistance for developing countries). Austin has resigned from his current position, as head of private development bank Nimmo-Bell, to take up the post. In late 2002 Austin finished a 6 year tenure as alternate Executive Director to the Asia Development Bank. “John’s experience, particularly with the ADB, gives him a strong understanding of international financial institutions and development banking as well as development issues for small island countries” said NZ Finance Minister Dr Michael Cullen.