IIF hires new deputy managing director

The Institute of International Finance (IIF) has named Peter McCarthy as deputy managing director with responsibility for regulatory activities.

McCarthy has 27 years' experience in banking with US headquartered firms, including 18 years outside the US. He was most recently based in London for Bank One as senior vice-president and area head, Europe, Middle East and Africa. Between 1993 and 1997 he was Bank One’s area head for the Asia-Pacific region, based in Tokyo.

The IIF was created in 1983 in response to the international debt crisis. Among its 320 members are most of the world’s largest commercial and investment banks, as well as a growing number of insurance companies and investment management firms.

The IIF analyses risks in emerging market economies, serves as a forum for member firms on key policy issues in emerging markets finance and regulatory matters, and promotes collaboration between members and multilateral institutions such as the World Bank and regional development banks.