New Chief at ATI

Nairobi, Kenya, January 10, 2006. The African Trade Insurance Agency (ATI), the continent’s only multilateral export credit agency, is pleased to announce the appointment of Mr. Peter Michael Jones as its new Chief Executive Officer. Mr Jones will assume his position on February 1, 2006 in Nairobi.

Hon. Prof. Nshuti P. Manasseh, Minister for Finance and Economic Planning of the Republic of Rwanda and Chairman of ATI General Assembly expressed the General Assembly’s satisfaction with the selection of Mr Jones by the Board of Directors. “The ATI Member Countries are very pleased with this appointment coming at a time when ATI and the World Bank have agreed on the establishment of a pooled equity share capital structure and an expanded mandate with broadened product offering by the Agency. Mr Jones will provide the leadership essential to the actualization of the new capital structure and rolling out of the new products,” he said.

Mr. Astère Girukwigomba, Chairman of the ATI Board of Directors observed that “the appointment of Mr. Jones through international competition is part of the Board’s strategy for attracting world class skills to ATI. He brings to ATI the experience required to make the Agency a pillar for delivering on our vision of transforming Africa into a prime trade and investment destination by providing insurance support to Africa related transactions”. Mr Girukwigomba further expressed the Board’s gratitude to Mr. Caroli Omondi, ATI’s General Counsel and Secretary to the Board, who has been acting Chief Executive of the Agency. ‘Mr. Omondi did assume additional responsibilities which he performed very well. We thank him for his commitment and excellent service to the Agency during this transitional period”.

In accepting the appointment, Mr Jones said, “It is a privilege to have been appointed as ATI’s new Chief Executive. I am honoured by the trust and confidence that the Board and General Assembly have placed in me to help ATI fulfill its clear potential to become Africa’s lead Export Credit Agency. I have rarely experienced such an energized staff, Board and shareholders, united by a single vision of success”.

Mr. Jones has been with the Multilateral Investment Guarantee Agency (MIGA) in Washington D.C as Head of Reinsurance and Insurance Operations Support. He had previously served as Manager of Underwriting and Manager of Operational Strategy Unit in MIGA. Prior to joining MIGA in 1999, Mr. Jones held several positions with the Export Development Canada (EDC) (in Ottawa). A banker by profession, Mr Jones has worked with Canadian Imperial Bank of Commerce (CIBC), London, Grindlays Bank/ Australia & New Zealand, London, Chemco International Leasing Inc, Toronto & Hong Kong, and Bank of Montreal, Toronto. Mr. Jones is a Fellow of the Institute of Chartered Secretaries and Administrators. He studied Naval Architecture at the University of Newcastle, England. He successfully completed the World Bank Group’s Executive Development Program at Harvard Business School, Cambridge, MA in 2000.

NOTES TO EDITORS

In partnership with global players such as Lloyd’s of London, MIGA, Atradius Group, OPIC, AIG, OND Ducroire and Zurich Financial Services Group, ATI offers:

Trade Political Risk Insurance
Non-payment Cover on Public Buyers
Credit Insurance on Private Buyers
Foreign Direct Investment Insurance
Project Loan Insurance
Unfair Calling of Bonds Insurance
Mobile Assets Insurance
War and Terrorism Physical Damage and Consequential Loss Insurance.