Tuesday, July 16, 2013
Washington, D.C. – The Overseas Private Investment Corporation, the U.S. Government’s development finance institution, today announced that Michael Whalen has joined the agency as Vice President of Structured Finance. In this role, Mr. Whalen will oversee a department responsible for executing large and complex transactions that strengthen the physical and financial infrastructure of developing countries.
“Michael Whalen is an exceptional addition to the OPIC leadership team,” said OPIC President and CEO Elizabeth L. Littlefield. “His extensive background and experience in banking, project finance, and industry will serve the agency well as it takes on new initiatives and endeavors to support critical investments in emerging markets,” Ms. Littlefield added.
With experience spanning the renewable energy, industrial, natural resource and infrastructure sectors, Mr. Whalen raised more than $17 billion in capital and developed innovative financing structures for projects in the Americas, Europe, the Middle East and Asia-Pacific, in both developed and emerging markets.
Most recently serving as Chief Financial Officer for the California-headquartered solar development company SolarReserve, Inc., Mr. Whalen spearheaded that company’s financing activities including those enabling its deployment of advanced renewable energy technology.
Prior to joining SolarReserve, Mr. Whalen established and headed HSBC's project finance team for the Americas. Before HSBC, Mr. Whalen was the co-head of the Energy & Power Finance team for Europe, Middle East and Africa for Bank of America based in London. Mr. Whalen was also part of Mobil Corporation’s finance group where he focused on project finance transactions in the Middle East, the former Soviet Union, and in the Asia Pacific region.
OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy. Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.
Established as an agency of the U.S. Government in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers. OPIC services are available for new and expanding business enterprises in more than 150 countries worldwide. To date, OPIC has supported more than $200 billion of investment in over 4,000 projects, generated an estimated $75 billion in U.S. exports and supported more than 277,000 American jobs.