Tilman Ehrbeck Named as New CEO of CGAP

By Cgap, PRNE
Monday, August 30, 2010

WASHINGTON, August 31, 2010 - CGAP today announced that Tilman Ehrbeck will be its new CEO. Ehrbeck, a
Partner at McKinsey & Company, will succeed Elizabeth Littlefield, who was
recently appointed President and CEO of OPIC (Overseas Private Investment
Corporation). The CGAP CEO is also a Director at the World Bank Group.

Ehrbeck brings nearly 20 years experience in banking, management, and
public sector work to CGAP, whose mission is to improve poor people's access
to financial services around the world. As Partner at McKinsey & Company he
held leadership positions in the firm's Indian operations, McKinsey's North
American Banking & Securities Practice, and its Global Healthcare Payor &
Provider Practice.

Ehrbeck also brings a wealth of expertise in the area of financial
inclusion. Over the past 10 years, he has advised microfinance networks,
private foundations, governments, and commercial entities on strategies to
improve financial access, among other speaking and writing roles.

"Tilman brings exceptional talent in a broad range of issues relevant to
financial inclusion," said Vijay Mahajan, Chair of CGAP's Board and Founder
and CEO of the Indian microfinance institution BASIX. "He has both the vision
and leadership skills that, coupled with the enormous talent of CGAP staff
and the support of its members, will help enhance poor people's access to
financial services."

Prior to McKinsey, Ehrbeck was Staff Economist for the IMF (International
Monetary Fund).

Ehrbeck holds a bachelor's degree from the University of Hamburg, and a
PhD in economics from the European University Institute, the post-graduate
school and research institute sponsored by the European Union.

"CGAP has distinguished itself in being always one step ahead of the
curve as an innovator, thought leader, and knowledge center for
microfinance," said Janamitra Devan, Chair of the CGAP Governing Council and
Vice President for Financial and Private Sector Development at the World Bank
Group. "So we are fortunate to have found in Tilman someone who combines
intellectual leadership, financial sector expertise, and top tier management

"It's an enormously exciting time to be joining CGAP, which has been at
the cutting edge of this industry for many years," said Ehrbeck. "Today we're
seeing so many of the early ideas take root and flourish. These successes
have brought us into a new phase where there are many new partners, and new
opportunities. I am tremendously energized to be joining such a high-caliber
organization at such a critical time."

About CGAP

CGAP is an independent policy and research center dedicated to advancing
financial access for the world's poor. It is supported by over 30 development
agencies and private foundations who share a common mission to alleviate
poverty. Housed at the World Bank, CGAP provides market intelligence,
promotes standards, develops innovative solutions, and offers advisory
services to governments, microfinance providers, donors, and investors.

CGAP works toward a world in which poor people are considered valued
clients of their country's financial system. www.cgap.org

Jeanette Thomas, +1-202-744-4829, jthomas1 at cgap.org

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