Indian-American investor Sunil Sabharwal gets powerful IMF position

Independent investor Sunil Sabharwal has become the first Indian-American to occupy a key administration post at the IMF, three weeks after he was confirmed by the Senate.

Sabharwal, who was confirmed by the US Senate after a long waiting, assumed the position as Alternate Executive Director of the International Monetary Fund on Wednesday.

Given that the US commends more than 16.81% of the total IMF voting share; this is one of the most powerful positions in the International Monetary Fund.

US President Barack Obama nominated him for the post in April 2014 and then re-nominated Sabharwal in March 2015.

Born to an Indian father and a Hungarian mother in New Delhi, his parents separated when he was 9 years old and he later moved to Budapest.

Sabharwal served as board chairman of Ogone, a European e-commerce payment services firm, from 2011-13 and advised Warburg Pincus on its acquisition of easycash, a German network services company, subsequently becoming a board adviser there from 2006-2009.

From 2003-2006, he was senior vice president, strategic investments, at the First Data Corp/Western Union and from 1997-2003, held executive posts at GE Capital, including managing director.

From 1992-96, Sabharwal worked at the European Bank for Reconstruction and Development, lastly as the principal banker.

He has a BS from Ohio State University and an MS from the London Business School.