Elizabeth L. Littlefield was the President and CEO of the Overseas Private Investment Corporation (OPIC), the U.S. Government's development finance agency. She was nominated to the Under Secretary-level position[1] by President Barack Obama
Barack Obama
on November 19, 2009 and was confirmed by the U.S. Senate
U.S. Senate
on June 24, 2010. She was sworn into office on October 1, 2010 by U.S. Secretary of State Hillary Clinton.[2] During her tenure at OPIC, Littlefield emphasized the development role and contributions of the Agency. Investments increased markedly in Sub-Saharan Africa (250 percent from 2009 to 2015),[3] in renewable resources,[4][5] and microfinance, which topped $1 billion in 2016. The Agency also launched or expanded several impact investing initiatives[6][7] to engage a wider range of socially responsible enterprises and co-investors in the developing nations. OPIC's financing for private sector project is central to President Obama's signature Power Africa initiative, and in 2015 the Agency achieved its first-stage Power Africa target of $1.5 billion in financing.[8] Littlefield was appointed by President Obama to serve as a member of the White House Global Development Council and the President’s Export Council. She was presented in 2012 with the U.S. State Department's Distinguished Service Award, the highest award in the Foreign Service, by then U.S. Secretary of State Hillary Clinton. She is currently Senior Counselor at Albright Stonebridge Group. [9]


1 Early life 2 Career 3 Other activities 4 Personal life 5 References

Early life[edit] A native of Boston, Littlefield attended the Fondation Nationale de Sciences Politiques and Columbia University
Columbia University
in Paris, France in 1981, obtaining a Certificat d'Etudes de Sciences Politiques. In 1982, she graduated cum laude from Brown University
Brown University
in Providence, Rhode Island with a BA in International Relations. Career[edit] In 1983, Littlefield joined the global investment banking and advisory services firm JP Morgan, the start of a 15-year career with the institution. Based in New York City, in her first three years, she progressed from trainee to assistant treasurer to Assistant Vice President of international banking. Among other responsibilities she managed relationships of J.P. Morgan with financial institution in Belgium, Holland and Luxembourg. During this time, she began collaborating with Women's World Banking,[10] a global nonprofit devoted to giving more low-income women access to the financial tools, education and resources they require to build security and prosperity. From 1986 to 1988, Littlefield was J.P. Morgan's Director of Investment Banking based in Paris. She was responsible for design, creation, marketing and technical aspects of 24 multi-currency investment funds incorporated in France and Luxembourg. While working in Paris, she persuaded J.P. Morgan to allow her to a one-year sabbatical from 1989-1990 to work as consultant on operations and strategy to several start-up microfinance institutions in Central and West Africa.[11] She advised the Gambia Women's Finance Corporation as well as start-up microfinance institutions in Mali, Senegal, Mauritania, Rwanda, and Burundi. From April 1990 to December 1992, Littlefield was based in London in Emerging Market Sales and Trading for JP Morgan, in which capacity she was Head Debt Trader for loans and bonds of 42 countries across Africa, Eastern Europe, and Asia.[12] During this time, Littlefield crafted also discounted debt structures, such as debt-equity conversions and debt-development swaps, eight of which were completed. In January 1993, Littlefield became Managing Director of Emerging Markets Capital Markets[13] at JP Morgan, responsible for financings across Central, Eastern and Southern Europe, nations of the former Soviet Union, the Middle East and Africa. During this time she and her team secured inaugural financing mandates in the Czech Republic, Poland, Russia, Oman, Lithuania, Slovenia, Turkey, Greece, Hungary
and Kazakhstan. Additional deal mandates were obtained in Qatar, Bulgaria, Uzbekistan, Morocco
and Romania. The deals involved public and private debt issues both structured and straight, derivatives, credit rating advisory services, debt repurchases and other debt management transactions for sovereigns, corporates, Paris Club
Paris Club
creditors and banks. Beginning in 1999, Littlefield served in a joint capacity as a Director of the World Bank's Financial and Private Sector Division, and Chief Executive Officer of The Consultative Group to Assist the Poorest (CGAP) from 1999 to 2010. CGAP is a global donor consortium for microfinance housed at the World Bank which operates in 60 countries. Microfinance is the business of delivering financial services, such as savings, insurance, money transfers and loans, to the urban and rural poor in developing countries. CGAP was created to help build a worldwide microfinance industry by setting standards, influencing policy, providing technical services and strategic advice, and carrying out and disseminating research on innovations and best practices.[14][15][16] CGAP’s clients are microfinance institutions, (whether credit unions, village banks, regulated financial institutions or NGOs), donors, policy makers and other service providers.[17] Other activities[edit] Littlefield is a former Board Member, Executive Committee Member and Treasurer of Women's World Banking. Littlefield has served on the Boards and Executive Committees of the MasterCard Foundation and the Calvert Foundation. Littlefield was a founder of the Emerging Markets Charity in the United Kingdom. She is a member of The Council on Foreign Relations. She has served as the Chairperson of the World Economic Forum
World Economic Forum
(WEF) Global Agenda Council on Social Innovation. Personal life[edit] Littlefield is married to Matthew B. Arnold, and has two stepsons. She holds dual citizenship in the United States
United States
and United Kingdom. She is fluent in English and French. References[edit]

^ Staats, Sarah Jane (March 17, 2010). "OPIC Nomination Hearing: One Step Closer to a Private Sector Voice at Obama's Development Table". Center for Global Development. Washington. Retrieved April 13, 2016.  ^ Clinton, Hillary (October 1, 2010). "Remarks at the Swearing-In Ceremony of Elizabeth Littlefield, President and CEO of the Overseas Private Investment Corporation". U.S. Department of State. Washington. Retrieved April 13, 2016.  ^ Littlefield, Elizabeth (January 5, 2015). "Don't Let Ebola Obscure Africa's Larger Promise and Challenges". Devex. Washington. Retrieved April 13, 2016.  ^ Kidney, Sean (September 25, 2014). "Now Here's Something to Like: OPIC issues $47.3m green project bond with a guarantee. Good example of how rich world can assist developing". Climate Bonds Initiative. London. Retrieved April 13, 2016.  ^ Post, Network Blog (December 2, 2014). "Interview with Elizabeth Littlefield, OPIC President and CEO". Tampa. Retrieved April 13, 2016.  ^ Saldinger, Adva (July 14, 2014). "OPIC: Let's leverage impact investing to make aid funding sustainable". Devex Impact. Washington. Retrieved April 13, 2016.  ^ Blog Post, Network (May 28, 2015). "Investor Spotlight: Elizabeth Littlefield of the Overseas Private Investment Corporation". Global Impact Investing Network. New York. Retrieved April 13, 2016.  ^ Shumkov, Ivan (September 18, 2015). "OPIC Okays USD-400m Financing for CSP project in South Africa". SeeNews Renewables. Bulgaria. Retrieved April 13, 2016.  ^ [1] ^ Walsh, Michaela (December 6, 2008). "Founding a Movement: Women's World Banking, 1975-1990". Cosimo Books. New York. Retrieved April 21, 2016.  ^ Gao, Ying (October 24, 2015). "Celebrating Women Leaders - Elizabeth Littlefield: An Early Journey Sparks a Lifetime Commitment". Women's World Banking. United States. Retrieved April 13, 2016.  ^ Refer to FT Lexicon for a succinct description of JP Morgan
JP Morgan
emerging market bond indexes. ^ Muehring, Kevin (April 1, 1994). "Emerging-Markets Debt Comes of Age". Institutional Investor. New York. Retrieved April 21, 2016.  ^ Harford, Tim (December 6, 2008). "The Battle for the Soul of Microfinance". FT Magazine. London. Retrieved April 13, 2016.  ^ Lohr, Steve (November 12, 2007). "Back-Office Support for Busy Microfinanciers". New York Times. United States. Retrieved April 13, 2016.  ^ Saltmarsh, Matthew (August 28, 2009). "Some Fear Profit Motive to Trump Poverty Efforts in Microfinance". New York Times. United States. Retrieved April 13, 2016.  ^ N, Abhay (February 23, 2009). "Valuing Equity Investments in Microfinance". India Microfinance. India. Retrieved April 13,