In Washington, D.C.:
Lotte Pang
Phone: (202)758-4290
E-mail: lpang@ifc.org


IFC Asset Management Company Appoints Marcos Brujis Manager of $3 Billion Fund

Washington, D.C., May 14, 2009—IFC Asset Management Company, LLC has appointed Marcos Brujis, an investment expert with more than 30 years of experience in emerging markets, as fund manager of a new $3 billion fund to protect systemically important emerging-market banks from the effects of the global financial crisis.

Brujis will manage and represent the IFC Recapitalization Fund, which will make subordinated loans and equity or equity-linked investments in major private banks or state-owned banks on a clear path to privatization. The recently launched fund is helping emerging-market banks in their efforts to keep lending and support economic recovery and job creation through crisis.

IFC Asset Management Company is a wholly owned subsidiary of IFC, a member of the World Bank Group. It was set up this year to mobilize capital to address the effects of the global financial crisis and serve longer-term development needs around the world. The company announced last week that it had appointed Gavin Wilson as its first chief executive officer.

Brujis has been IFC's Senior Country Manager for Mexico and Central America since 2007, based in Mexico City. He joined IFC in 2000 as a Principal Investment Officer and was appointed Manager of Financial Markets for Latin America and the Caribbean in 2001. In early 2002, he helped coordinate IFC's response to the Argentine economic crisis. He has also served as a Senior IFC Manager in East Asia, and has managed IFC units focused on developing housing, insurance, and non-bank financial institutions.

Before joining IFC, Marcos was a senior executive at HSBC Argentina. In 1994, he was appointed Chairman of the Board of The Argentina Private Development Trust (APDT), a privatization fund. He also was a Board member of the Peru Privatization Fund (PPF), a $200 million cash equivalent fund. He originated that fund in 1995, based on the success of APDT.

He holds an MBA degree from McGill University, Canada. Marcos Brujis is a national of Peru.

Marcos' new appointment as Fund Manager will be effective July 1, 2009.

About IFC Asset Management Company
IFC Asset Management Company, LLC (IFC AMC) is a wholly owned subsidiary of IFC, a member of the World Bank Group. IFC AMC was established in January 2009 to serve as an independent fund manager of third-party capital.

About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous year. For more information, visit www.ifc.org.