World Bank Taps Lehman’s Ex Risk Officer As Treasurer

My head is spinning.

Madelyn Antoncic served as chief risk officer at Lehman Brothers just before it collapsed. Before that between 2002 and 2007 she was head of Global Head of Market Risk Management at Lehman.
As Halah Touryalai, at Forbes puts it, you would think that Antoncic"would be hard pressed to score any financial job ever again." But no so fast.

The World Bank just hired Antoncic to run its finances as its treasurer and vice president.

She’ll be responsible, according to the World Bank, for its Capital Markets Department; Investment Management Department; Pension & Endowments; Quantitative Risk Analytics; Treasury Operations Department; Banking & Debt Management, and Sovereign Investment Partnerships.

Touryalai offers something of a defense for Lehmann's collapse under Antoncic:

So where was Antoncic to reign in such risk during that time? Well, she was being kicked out of executive meetings where risk was being discussed. Antoncic, with her PhD in economics and a prior 12 year stint at Goldman Sachs, might have know Lehman was taking too much risk but her opinion was blatantly disregarded when she was removed from Lehman’s executive committee in 2007

Got that? A risk officer too timid to monitor risk.

Ah yes, just what Greeks and the other PIIGS are looking for. But perhaps, we are too harsh on Antoncic, she does appear to have an important prerequisite for the World Bank job. Before she joined Lehman Brothers, she worked at Goldman Sachs for 12 years.

(htClayGraham)