World Bank to have new CFO

The Washington-based global lender announced in a statement the appointment of Bertrand Badre, a French national who is currently serving as the chief financial officer at Societe Generale. Badre will take up the new position March 1, 2013, reported Xinhua.

"Bertrand has deep management experience in some of the largest financial institutions in Europe, and he has a strong track record and sterling reputation," said World Bank president Jim Yong Kim.

"I am very pleased to have Bertrand join the bank's management team, where I am confident he will continue to protect the bank's financial strength and maintain our ongoing commitment to effectively safeguard the resources entrusted to us," he added.

As the bank's managing director for finance and CFO, Badre will be responsible for all critical internal financial functions and the general services department. This includes the bank's finance operations, control functions, global partnerships and concessional finance, according to the statement.