Oliver Russmann has been director general and chief financial controller at the European Investment Bank. “The EIB plays a pivotal role in financing sustainable investment projects that drive economic growth while addressing global challenges, both in Europe and beyond. I’m truly excited to contribute to this inspiring mission,” he on 3 October. Russmann previously spent nine years at Citi, which he described as “an extraordinary and enriching experience,” where he held the role of CFO Citigroup global markets Europe and CFO Germany. Before that, he worked at J.P. Morgan for nine years, holding the position of head of finance. Previous jobs include roles at Credit Suisse and at Commerzbank AG.
The EIB’s chief financial controller directorate is “responsible for informing internal and external stakeholders about the bank’s financial position, results and performance” and must “ensure the integrity, completeness and accuracy of the bank’s financial statements and compliance with the applicable accounting standards and best practices,” says the EIB.
The group that Andrew McDowell had been named the new director general of EIB Global, the part of the EIB that works outside the EU. McDowell, who took up his role at the start of October, joins from PWC’s Strategy& service. He previously served as vice president at the EIB from 2016 to 2020, as chief economic advisor to Ireland’s taoiseach (prime minister) and head of policy/programme implementation, and as director of policy for the Fine Gael party. “Reporting to EIB president , I look forward to working with a fantastic team to further strengthen EIB impact in partner countries of the EU, consistent with EU policy priorities and against the backdrop of rising global economic, environmental and political challenges,” McDowell in June when his appointment was initially announced.
Based in Luxembourg, the European Investment Bank Group is made up of the EIB, the lending arm of the European Union, and the European Investment Fund, which aims to support small and medium-sized businesses by helping them access finance. The EIB Group in 2023 to over 900 projects across Europe. EIB Global committed over €8.4bn to projects in partner countries.