Paul V. Applegarth | |
---|---|
Born | Paul Vollmer Applegarth April 21, 1946 |
Education |
Harvard Business School Yale University |
Occupation(s) | business executive, financier |
Employer(s) | Finnacle Financial Advisors
German Marshall Fund |
Known for | first CEO of the Millennium Challenge Corporation |
Awards | Baker Scholar |
Honours | White House Fellows |
Paul Vollmer Applegarth (born April 21, 1946) is an American business executive, financial consultant, banker, and lawyer. [1] [2] He was the first chief executive officer of the Millennium Challenge Corporation, President George W. Bush's flagship project to provide development aid to poor countries. [3] [4]
Applegarth was born in Wilkinsburg, Pennsylvania. He is the son of Alice (née Vollmer) and William "Bill" Francis Applegarth, an engineer, college professor, and manufacturer of air conditioners. [5] [6] The family moved to Atlanta, Georgia in 1947 where Applegarth was raised. [7] [8] [9]
He attended the Christ the King School, before going to the Marist School where he was manager of the football team and graduated in 1964. [5] Applegarth attended Yale University, receiving a B.A. cum laude in economics, with a minor in corporate finance and development, in 1968. [2] [5] [7] While there, he was a member of the fraternity of St. Anthony Hall.
From 1968 to 1970, he served as a lieutenant, then captain, in the United States Army during the Vietnam War. [3] He describes his role in Vietnam as "part Peace Corps and part Special Forces." [3] In addition to combat, he built schools and trained village chiefs. [3]
Applegarth received an M.B.A. from Harvard Business School and a J.D. from Harvard Law School in 1974. [2] [3] He received First Year Honors and was a Baker Scholar from Harvard Business School. [2] [7]
Applegarth began his career with World Bank in 1974, remaining there until 1983. [3] From 1981 through 1982, he was a White House Fellow. [2] He worked for Secretary of Defense Robert McNamara at the International Finance Corporation (IFC). [2] He was also a senior advisor to Secretary of State Colin Powell at the United States Department of State. [5]
He worked at Bank of America in San Francisco as head of North American investment banking and head of the global project finance business from 1983 to 1986. [2] He was also a financier with American Express/ Lehman Brothers in New York City from 1987 to 1994. [3] [2] Applegarth was a loaned executive, becoming the chief financial officer of the United Way of America and helping the nonprofit recover from a financial scandal. [3] [4] [5] In 1994, He became managing director of the Emerging Markets Partnership, working in England, Hong Kong, and Washington D.C. until 2003. [2] [5]
Applegarth was managing director and chief operating officer of the Emerging Africa Infrastructure Fund from 2001 to 2002. [2] Sponsored by European governments, this fund combined private sector money with public funding to build power plants, roads, and other infrastructure in Sub-Saharan Africa. [3] Applegarth then became chief executive officer of the consulting firm, Value Enhancement International. [4]
In 2004, President George W. Bush appointed Applegarth as the first chief executive officer of the Millennium Challenge Corporation (MCC). [3] A new approach to foreign aid, MCC was established as an independent government organization. [3] It awarded grants to partners, some of the poorest countries in the world, who are committed to economic and political freedom. [3] [10] Applegarth said the job “represents a culmination of an awful lot I’ve done in my life. The job and the whole mission seemed to be made for me.” [3] In June 2005, he announced that he would be stepping down from his CEO position after just eleven months. [10]
He was a Senior Transatlantic Fellow at the German Marshall Fund from 2005 to 2006. [2] In 2009, Applegarth joined Finnacle Financial Advisors, an international investment bank group. [2]
His family lived in Greenwich, Connecticut. [5] However, they moved to Naples, Florida sometime before 2015. [6] [9] He is president of The Applegarth Tubman Medicine Hill Preservation and Educational Foundation in Maryland. [11] He speaks Chinese, French, Spanish, Tagalog, and Vietnamese. [5]
Paul V. Applegarth | |
---|---|
Born | Paul Vollmer Applegarth April 21, 1946 |
Education |
Harvard Business School Yale University |
Occupation(s) | business executive, financier |
Employer(s) | Finnacle Financial Advisors
German Marshall Fund |
Known for | first CEO of the Millennium Challenge Corporation |
Awards | Baker Scholar |
Honours | White House Fellows |
Paul Vollmer Applegarth (born April 21, 1946) is an American business executive, financial consultant, banker, and lawyer. [1] [2] He was the first chief executive officer of the Millennium Challenge Corporation, President George W. Bush's flagship project to provide development aid to poor countries. [3] [4]
Applegarth was born in Wilkinsburg, Pennsylvania. He is the son of Alice (née Vollmer) and William "Bill" Francis Applegarth, an engineer, college professor, and manufacturer of air conditioners. [5] [6] The family moved to Atlanta, Georgia in 1947 where Applegarth was raised. [7] [8] [9]
He attended the Christ the King School, before going to the Marist School where he was manager of the football team and graduated in 1964. [5] Applegarth attended Yale University, receiving a B.A. cum laude in economics, with a minor in corporate finance and development, in 1968. [2] [5] [7] While there, he was a member of the fraternity of St. Anthony Hall.
From 1968 to 1970, he served as a lieutenant, then captain, in the United States Army during the Vietnam War. [3] He describes his role in Vietnam as "part Peace Corps and part Special Forces." [3] In addition to combat, he built schools and trained village chiefs. [3]
Applegarth received an M.B.A. from Harvard Business School and a J.D. from Harvard Law School in 1974. [2] [3] He received First Year Honors and was a Baker Scholar from Harvard Business School. [2] [7]
Applegarth began his career with World Bank in 1974, remaining there until 1983. [3] From 1981 through 1982, he was a White House Fellow. [2] He worked for Secretary of Defense Robert McNamara at the International Finance Corporation (IFC). [2] He was also a senior advisor to Secretary of State Colin Powell at the United States Department of State. [5]
He worked at Bank of America in San Francisco as head of North American investment banking and head of the global project finance business from 1983 to 1986. [2] He was also a financier with American Express/ Lehman Brothers in New York City from 1987 to 1994. [3] [2] Applegarth was a loaned executive, becoming the chief financial officer of the United Way of America and helping the nonprofit recover from a financial scandal. [3] [4] [5] In 1994, He became managing director of the Emerging Markets Partnership, working in England, Hong Kong, and Washington D.C. until 2003. [2] [5]
Applegarth was managing director and chief operating officer of the Emerging Africa Infrastructure Fund from 2001 to 2002. [2] Sponsored by European governments, this fund combined private sector money with public funding to build power plants, roads, and other infrastructure in Sub-Saharan Africa. [3] Applegarth then became chief executive officer of the consulting firm, Value Enhancement International. [4]
In 2004, President George W. Bush appointed Applegarth as the first chief executive officer of the Millennium Challenge Corporation (MCC). [3] A new approach to foreign aid, MCC was established as an independent government organization. [3] It awarded grants to partners, some of the poorest countries in the world, who are committed to economic and political freedom. [3] [10] Applegarth said the job “represents a culmination of an awful lot I’ve done in my life. The job and the whole mission seemed to be made for me.” [3] In June 2005, he announced that he would be stepping down from his CEO position after just eleven months. [10]
He was a Senior Transatlantic Fellow at the German Marshall Fund from 2005 to 2006. [2] In 2009, Applegarth joined Finnacle Financial Advisors, an international investment bank group. [2]
His family lived in Greenwich, Connecticut. [5] However, they moved to Naples, Florida sometime before 2015. [6] [9] He is president of The Applegarth Tubman Medicine Hill Preservation and Educational Foundation in Maryland. [11] He speaks Chinese, French, Spanish, Tagalog, and Vietnamese. [5]