Press Release No. 09/422

Press Release No. 09/422
November 20, 2009

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), announced today his intention to name Mr. Siddharth Tiwari to the post of Director of the Secretary’s Department of the Fund and Mr. Russell Kincaid as Director of the Fund’s Office of Internal Audit (OIA).

Mr. Tiwari, an India national, is currently Director of the Office of Budget and Planning, and will assume a position held by Mr. Shailendra Anjaria, who retired from the IMF earlier this year. Mr. Kincaid, a U.S. national, has been acting Secretary of the Fund pending the appointment of a replacement to Mr. Anjaria. He succeeds Mr. Barry Potter, who also retired earlier this year from his post at OIA.

Mr. Strauss-Kahn noted that in the context of the Secretary position, which is a role that involves active work with the Fund’s Executive Board and its daily interactions with Management and staff, that “Mr. Tiwari has the experience and skills” to promote consensus building, which is a critical goal of the Board and Management. “He is widely respected throughout the institution. He has a proven track record in managing a complex work program, in particular as Director of the Office of Budget and Planning during a very difficult time for the institution,” the Managing Director stated.

Mr. Tiwari, who has a more than 20-year career at the IMF, holds a bachelor’s degree in economics from the University of Delhi, a master’s from the London School of Economics, and a doctorate in economics from the University of Chicago. A search for his successor at the Office of Budget and Planning is currently underway.

The Managing Director also stated Mr. Kincaid’s extensive Fund experience is important in the context of his appointment to OIA, which he said “will have an increasingly important role in reviewing the internal functioning of our institution and helping to manage the various risks it faces. In this context, OIA will aim to further develop internal controls and risk management procedures, and also review work practices to facilitate the efficient management of facilities, IT, and support services.

“To allow OIA to fulfill this role, Management has concluded that the director should be a person with an intimate knowledge of all the workings of the institution, supported by staff with technical audit background. I would note that we have consulted with the External Audit Committee, who are supportive of this decision,” Mr. Strauss-Kahn stated.

Mr. Kincaid, who has had broad operational and technical experience throughout a more than 30-year IMF career, holds a bachelor of arts degree from the University of California at Los Angeles and a doctorate in economics from Columbia University.