World Bank names new chief economist
The World Bank Group has appointed Michael Kremer as its chief economist and senior vice president for development economics. He most recently served as director of the University of Chicago’s Development Innovation Lab.
Kremer’s research focused on economic growth, technological change, and development economics. He, along with Abhijit Banerjee and Esther Duflo, won the Nobel Prize in Economics in 2019 for their work on alleviating global poverty.
Ajay Banga, President of the World Bank Group, praised Kremer, saying he “has spent his career not just identifying what works in development but proving it at scale.”
In other news, HSBC announced that Pam Kaur will step down as Group CFO after more than a decade with the bank. She will assume an advisory role to support the transition for her successor.
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Kaur began her career at HSBC in 2013 and held various roles, including group head of internal audit and group chief risk officer. Brendan Nelson, HSBC Group Holding plc chairman, thanked Kaur for her “strong judgment and integrity.”
J.P. Morgan named Nelle Miller and William Sinclair as co-CEOs of its U.S. Private Bank. They will oversee the firm’s $2.4 trillion U.S. private banking business, which serves the wealthiest individuals, family offices, and institutions nationwide.
Miller and Sinclair have been with J.P. Morgan since 2002 and 2007, respectively. Sinclair said the firm has “a fantastic franchise, with exceptional people and an unparalleled breadth of capabilities.”
IA Global Capital, a technology-focused investment bank, announced that Jules Wurlod has joined the firm as managing director. Wurlod previously worked at Houlihan Lokey and Boston Consulting Group, advising on corporate strategy and sustainability.
