Geoffrey Okamoto is set to join the International Monetary Fund (IMF) as its Deputy Managing Director following the proposal of the global lender’s Managing Director, Kristalina Georgieva.
The appointment, which is subject to approval by the IMF’s Executive Board, will reportedly take effect on March 30, 2020.
Okamoto, who currently serves as the US Acting Assistant Treasury Secretary, replaces David Lipton, former first Deputy MD who stepped down last month.
While announcing her decision, the IMF boss said that having known Okamoto from his time leading U.S. Treasury’s engagement with the IMF and the World Bank, and representing the U.S. internationally, she had no doubt that he is capable. She added that Okamoto believes strongly in the Fund’s mission and is committed to helping it serve its members.
Okamoto’s profile: Okamoto has previously worked as the U.S. Treasury’s Acting Under Secretary for International Affairs. He has also led the Treasury Department’s negotiations on trade with China, resulting in a Phase I agreement signed in January 2020. He negotiated successful replenishments to MDB concessional windows and the Global Environment Facility, as well as helping to establish the Women Entrepreneur’s Finance Initiative (We-Fi).
Prior to joining the U.S. Treasury Department, Okamoto worked in the U.S. Senate, where he served as the Majority Staff Director for the Senate Banking Subcommittee on Financial Institutions. He was also the Policy Director for the House Financial Services Subcommittee on Monetary Policy and Trade. Earlier in his career, he was a consultant with KPMG, advising financial institutions on risk management and internal controls.
Okamoto was the Chairman of the Board for Georgetown University’s McCourt School of Public Policy, an Atlantik-Brücke Young Leader, a Member of the Council on Foreign Relations Congressional Study Group, and a guest lecturer at Georgetown on financial stability and international economics.
He holds a Master of Public Policy from Georgetown University with a concentration in banking, fiscal, and monetary affairs as well as a Bachelor of Science from California State Polytechnic University. He also studied at Corpus Christi College, Oxford.