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March 12, 2020

Washington, D.C. - The Institute of International Finance today released the following statement from IIF President and CEO Tim Adams after Geoffrey Okamoto was nominated to succeed David Lipton as First Deputy Managing Director of the International Monetary Fund:

“I congratulate Geoffrey Okamoto on his nomination and expect the IMF’s Executive Board will approve him shortly. Geoffrey has distinguished himself at the U.S. Treasury as an effective leader and someone who is strongly committed to the IMF’s mission.”

It is during times of great uncertainty, like now, that we rely most on the steady leadership and thoughtfulness of the Bretton Woods institutions. David Lipton was a beacon of stability for the global economy, serving excellently as First Deputy Managing Director for nearly a decade, and I trust Geoffrey is up to the task of carrying on this tradition.”

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The Institute of International Finance is the global association of the financial industry, with more than 450 members from more than 70 countries. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks and development banks.