Sabharwal was nominated last year in April.
By Raif Karerat
WASHINGTON, DC: President Barack Obama has re-nominated Sunil Sabharwal, an Indian American investor, for a key administration post as alternative executive director at the International Monetary Fund, or IMF.
Sabharwal was originally nominated in April 2014. Sabharwal has been an independent investor since 2006.
Obama sent his decision to re-nominate Sabharwal to the Senate on March 4 as it has been waiting for the upper house’s approval. His confirmation hearing was held in May of 2014.
Sabharwal was born in New Delhi to an Indian father and Hungarian mother. After his parents separated, he moved to Hungary, which he fled in 1983.
He returned in 1992 after the fall of the iron curtain to set up the Budapest office of the European Bank for Reconstruction and Development.
Most recently, Sabharwal served as Chairman of the Board of Ogone, a European internet payment services company headquartered in Brussels.
Sabharwal currently resides in Washington D.C., where he independently advises and co-invests with private equity firms and financial corporations.
When he isn’t involving himself in the business world, he has committed to membership on the International Olympic Committee’s Sport and Environment Commission.
He is also Secretary-General, formerly Treasurer, of the UNESCO and IOC-affiliated International Fair Play Committee.
A former NCAA All-American and Big Ten Champion in fencing, Sabharwal also serves on the Board of Peace & Sport USA.