Bertrand Badre, a French national who worked as chief financial officer at two of the country’s largest banks, will take the same post at the World Bank starting March 1.
“Bertrand has deep management experience in some of the largest financial institutions in Europe,” World Bank President Jim Yong Kim said in an e-mailed statement today. “I am confident he will continue to protect the bank’s financial strength and maintain our ongoing commitment to effectively safeguard the resources entrusted to us.”
Badre, 44, studied at France’s elite administration school ENA and is a graduate of the HEC business school while also holding a master’s degree in history from the Sorbonne, according to the World Bank. Badre has been Societe Generale (GLE) SA’s CFO since January at a time when the country’s second- largest bank by market value continued to trim its riskiest assets and sold its Greek unit.
Between 2007 and 2011, he held the same position at Credit Agricole SA (ACA), France’s third-largest bank and the foreign bank with the biggest lending exposure to Greece.
As CFO and managing director for finance at the Washington- based World Bank, Badre will oversee a poverty-fighting institution that made loans worth almost $53 billion last year. The bank’s financial power is more constrained now than four years ago, despite a 2010 capital injection, after stepping up loans to developing economies hit by the global crisis of 2008.
Badre, who was an assistant director at Lazard Ltd. (LAZ:US) in London in 1999, a Lazard vice-president in New York in 2000 and later a partner in Paris, also has experience working in government.
He was former French President Jacques Chirac’s deputy personal representative for Africa for the Group of Eight nations and a spokesman for his working group on finding new international financial contributions to fight poverty and fund development.
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