Transcript of "EurOrient chairman Ron Nechemia profile"
Biography Profile of Ron Nechemia Chairman of EurOrientMr. Ron Nechemia is a founding member of the EurOrient Financial Group(“EurOrient”) and its various affiliate development financial institutions and thefounding father of private sector development banking. Founded in 1988, the EurOrientis a private sector global development finance institution accredited by United NationsGeneral Assembly on Financing for Development. Its mission is to support theeconomic and social development efforts of the less developed countries as they, inparticular, seek to achieve the Millennium Development Goals (“MDGs”).Mr. Nechemia serves as the Chairman of the Board of Governors and Chief OperationOfficer of the EurOrient Financial Group, with the overall responsibility for the bankwide operations. Mr. Nechemia responsibility including the formulation and execution ofEurOrient’s institutional development plans as well as the formulation andimplementation of its global business development strategy along with the developmentand the delivery of EurOrient’s financial Group products and services. Since 1988, Mr.Nechemia has directed the internal growth of the EurOrient Financial Group and hassignificantly expanded its global presence.Mr. Nechemia recognized at the beginning of the new millennium that the world isradically different from when the EurOrient Financial Group was created 18 years ago.In half a century, it has changed in almost every respect and with a speed such ashumanity has never witnessed before. As a response, Mr. Nechemia have set out for theEurOrient Financial Group in the aftermath of the 2005 World Summit an Agenda forWork and Agenda for Development containing detailed suggestions for futureinternational action to be taken by .On 16 April, 2006, Mr. Nechemia outlined to the Treasury Board Secretariat of theEurOrient Financial Group his vision for a comprehensive reform of the EurOrientFinancial Group and the transformation of the EurOrient into a full-fledged privatesector global development bank responding to a wide range of development needs, as itevolves from a mere project financier, which included the advancement of Partnershipfor Development agenda and measures to improve management and accountabilitythroughout the Organization.On July 7, 2006, Mr. Nechemia presented to the Treasury Board Secretariat of theEurOrient Financial Group his proposals for a fundamental overhaul of the EurOrientFinancial Group and its affiliated development financial institutions. The reformreport is entitled: ‘Building a Twenty-First Century Development Bank: NewChallenges, New Priorities’.On August 30, 2007, Mr. Nechemia presented to the Treasury Board Secretariat of theEurOrient Financial Group his analysis and recommendations for updating the entire
work programme of the EurOrient over the last 19 years. The report is entitled:‘Mandating and Delivering: Private Sector Road for DevelopmentRon Nechemia Contributions Toward High-Level Policy DialogAs the founding father of private sector global development banking and as an originalparticipant at the convening of the first International Summit on Financing forDevelopment was held from 18-22 March 2002 in Monterrey, N.L., Mexico, Mr. RonNechemia brings a unique and historical perspective to the dialogue and the issues. Mr.Nechemia’s attendance along with the solicitation of his ideas was extended via a UnitedNations General Assembly resolution (55/245A and B, respectively,) in which theAssembly decided to convene, at the highest political level, the International Summit onFinancing for Development; and, “Accordingly, and in pursuance of paragraph 11 ofGeneral Assembly resolution 55/245B, EurOrient Financial Group (“EurOrient”)honorably was invited to participate”represented by Mr. Ron Nechemia in the historicalInternational Summit on Financing for Development on a Ministerial Segment.Mr. Nechemia was invited by the United Nation General Assembly to participate in theInternational Summit on Financing for Development, March 2002 on the MinisterialSegment to address key financial and development issues in front of Heads of State orGovernment. In addition to a number of Presidents and Prime Ministers, over 200ministers have participated in the Summit include ministers of finance, trade and foreignaffairs; the United Nations Secretary-General; the heads of the World Bank, InternationalMonetary Fund and World Trade Organization; the representatives of civil society andthe leaders from the private sector, and senior officials of all the major intergovernmentalfinancial, trade, economic, and monetary organizations. His statement to the plenariesand the Monterrey Consensus provide a picture of the new global approach to financingdevelopment.Mr. Nechemia’s unique wealth of knowledge has earned him many international awardsand recognitions. He is frequently been invited to consult and to advise in SpecialHigh-Level and at the Highest-Level Policy Dialog to express its views and to shareexperiences on financing for development and on trade and investment related issues infront of the international community bilateral and multilateral organizations such as theBretton Woods Institutions – the World Bank and the International Monetary Fund(“IMF”),United Nations General Assembly, United Nations Economic and SocialCouncil (“ECOSOC”) and the World Trade Organization (“WTO”). Mr. Nechemia is amember of the UNCTAD/ICC Investment Advisory Council and recognized as aforeign financial expert by the State Administration of Foreign Experts, the People’sRepublic Of China and he is frequently been invited to advise and lecture on behalf ofgovernments such as the United State of America, Republic of the Philippines, thePeople’s Republic of China, South Korea, and the State of California Department ofEnergy just to name a few.
Mr. Nechemia contributions to High-Level Policy Dialog are in addressing the issues of“Aid effectiveness and innovative financing for development” within the context ofthe overall theme of the Monterrey Consensus and Doha Declaration on Financing forDevelopment.Mr. Nechemia expertise and subjects of research are on the subjects of “Aideffectiveness and innovative financing for development” with in the context of: • additional commitments concerning innovative sources of financing for development further debt relief and International Public Goods; • better coordinated and more effective aid at international level as well as implementation of the Monterrey Consensus on Aid Effectiveness, including more predictable aid mechanisms, notably budget support, mitigation of exogenous shocks, aid untying and reform of the international financial institutions; • The reform of the international monetary and financial system and its implications for development”; • Supporting rehabilitation, recovery and development efforts of developing countries with special needs and those facing humanitarian emergency situations”; • “Enhancing coherence and consistency of the international monetary, financial and trading systems in support of development”.Recent Books and Selected Publications of Ron NechemiaMr. Ron Nechemia has written and broadcast extensively on development, refugees andinternational financial and political matters. Mr. Nechemia’s work is frequently publishedin major international symposiums and summits around the world, whereby, Mr.Nechemia shares his views, knowledge and know-how and urged the participants in theconferences and stressed that urgent efforts is needed to expand the social safety net andenhance protection of the poor and vulnerable in particularly in the areas of financing fordevelopment and in humanitarian relief efforts.In May 2008, Mr. Nechemia was interviewed by International Finance Magazine regardinghis outlook for the global economy and the world’s financial systems. During thisinterview, he announced that he saw a systemic financial crisis brewing and warned thatin the months to come the United States was likely to face a once-in-a-lifetime financialcrisis, an oil shock, sharply declining consumer confidence and, ultimately, adeep recession. Mr. Nechemia’s forecast included a bleak sequence of events:Homeowners defaulting on mortgages, trillions of dollars of mortgage-backed securitiesunraveling worldwide and the global financial system shuddering to a halt. Thesedevelopments, he foretold, could cripple or destroy hedge funds, investment banks and
other major financial institutions like Fannie Mae and Freddie Mac. While some viewedhis comments to be overly pessimistic at the time, Mr. Nechemia’s predictions provedaccurate in less than half a year.In fact, Mr. Nechemia has a strong record of correctly analyzing market data andpredicting economic events. On November 5, 2007, in a special interview to Viet NamTelevision, he warned that Viet Nam was likely to face economic deterioration andchallenges to maintain control of the stock market in the face of the boom in share prices.He further posited that a sudden reversal and capital outflows would jolt the economywhile the supply of securities has been increasing; demand has been even stronger, givenlimited outlets for savings. In this case, Mr. Nechemia’s predictions were also stunninglyaccurate and these events did occur six months later.As we enter 2009, global financial institutions and markets have been badly shaken.Threats to systemic stability became manifest in September 2008 with the collapse ornear-collapse of several key institutions. The far-reaching nature of the events that areunfolding is illustrated by the fact that within a period of only one week, largestand-alone investment banks disappeared from the U.S. financial landscape.Mr. Nechemia published for International Finance Magazine in May 2009 was includedas an official “Input Document” for The United Nations Council on Trade andDevelopment (“UNCTAD”) event convened for UNCTAD member States at its firstpublic symposium to provide a forum to discuss “The global economic crisis and development –the way forward” June 24th. Mr. Nechemia’s submission of his article in the form of aWhite Paper Asset Securitization: Revolution, Evolution, Devolution. The Rise and fallof the Most Important Financial Instrument in Banking,” was included as an official“input document” that addressed one of the key topics debated at the 18-19 May 2009symposium, that included, the causes and multiple impacts of the global economic crisisalong with assessing existing and appropriate responses at the international, regional andnational levelsBooksJune 12, 2008—Mr. Ron Nechemia, the Chairman of the Board of Directors ofEurOrient Financial Group, has been recognized as a leader in Venture Capitalism bybeing selected as an author to the book, The Roles and Motivations of Key Players in VentureCapital Deals, published by Aspatore Books. The Roles and Motivations of Key Players inVenture Capital Deals, ISBN: 9781596228122, is an authoritative insider’s perspective onthe venture capital industry for both VCs and entrepreneurs, with a focus onunderstanding the positions of each major player involved in venture capital and privateequity investmentsAwards and Recognitions Achieved by Ron Nechemia
Mr. Ron Nechemia is a recipient of many awards and recognitions for his work andcontributions to development in the less developed countries.He was selected in 2001 bythe Business Advisory Council – National Republican Congressional Committee as the“California 2001 Republican of the Year” for his business accomplishments over theyears, and to serve as the State of California representative on the Presidential BusinessCommission in 2002 till current for the President of the United States – George W. Bush.Furthermore, Mr. Nechemia was selected as the National Business Advisory CouncilHonorary Chairman May 20th, 2003 and the Business Advisory Council HonoraryChairman for California in September 13, 2003. In addition, Mr. Nechemia is therecipient of “Businessmen of the Year” award, an award which presented to topbusiness leaders who champion the free enterprise system, and the “2003 NationalLeadership Award” which was awarded by the Vice President of the United States –Richard B. Cheney, as a recognition of outstanding service and commitment, and inparticular for assistance and leadership in promoting a pro-business agenda including taxreform and fiscal responsibility and other awards and recognitions. Mr. Nechemianominated by the Business Advisory Council’s for the Award of “Businessmen of theYear” representing the state of California for the year 2004 (one of three nominees), thenomination recognizes the top U.S. business leaders who successfully integrated businessand financial success.