Honourable Paul V Applegarth

Vice Chairman

Honorable Paul V. Applegarth, Vice Chairman and an independent Director on the Board of Finnacle, is its principal affiliate in New York and brings over four decades of experience in leadership positions in Emerging Market Infrastructure Funds which have invested in infrastructure development of Latin America, Africa, Asia and India. During his career, he has committed approximately US$2 billion in emerging markets. Mr. Applegarth was the first Chief Executive Officer of the Millennium Challenge Corporation (MCC), the Bush Administration’s flagship development fund, where he was appointed by President George W. Bush and confirmed by the United States Senate. Prior to that, he was the founding Managing Director and COO of the Emerging Africa Infrastructure Fund and Managing Director at Emerging Markets Partnership, an asset management firm specializing in international private equity and debt investments in emerging markets. He was also Senior Transatlantic Fellow for the German Marshall Fund (2005-2006). Earlier to that, Mr. Applegarth was the Head of North American Investment Banking and the Global Project Finance Business at Bank of America. In his long and illustrious career he has also held leadership positions at the World Bank Group, American Express, and Lehman Brothers. Mr. Applegarth started his career in the World Bank and the IFC, where he served under former Secretary of Defense Robert McNamara. He is a graduate of Yale University, holds a Juris Doctor from Harvard Law School, and is an MBA and a Baker Scholar from Harvard Business School. Mr. Applegarth was named a White House Fellow in 1981-82.