Former Citigroup exec will expand Unitus's capital markets work in India & Asia.
Redmond, WA (PRWEB) September 20, 2007 -- Unitus, Inc., a worldwide leader in scaling innovative solutions to global poverty, today announced that Eric Savage has joined the organization as Vice President, Capital Markets (Asia). Savage will be based in the Bangalore office of Unitus and is responsible for leading the capital markets initiatives of Unitus in India and across Asia, as well as contributing to the development of Unitus's expanding global capital markets strategy.
Previously, Savage was Citigroup's Head of Asia Power Investment banking group with responsibility for investment banking coverage of the Asia power and infrastructure sectors. In this role, he helped secure and execute multiple landmark M&A and other transactions, including CKI's A$1.6 billion acquisition of Citipower, sale of Wessex Water to YTL for US$1.7 billion, and KEPCO's sale of Powercomm for US$1.2 billion. Savage was based in Hong Kong for12 years and worked for Citigroup/Salomon Brothers for 14 years. From 1996 to 1998, Eric was Head of Salomon Brothers' utilities sector equity research team and was selected as a member of Institutional Investors' All-Asia research team. Savage has also worked in private banking with Long-Term Asset Management. Savage is a graduate of Duke University with a B.A. in economics and of Harvard University's Kennedy School with a Mid-Career Master in Public Administration. From the Kennedy School he received the Lucius N. Littauer Fellow Award, the program's top honor.
"We are excited to have Eric join the team," said Kylie Charlton, Vice President Global Capital Markets. "We are looking forward to being able to serve the needs of our growing portfolio of Unitus microfinance partners by leveraging his extensive knowledge and experience of debt and equity capital markets across Asia."
"I am thrilled to be joining such an extraordinary team that is committed to making an impact on today's most pressing issue, global poverty. I'm particularly excited to be based in India and working throughout Asia, where the need for quality financial services is so huge and the effect can be life changing," said Savage.
About Unitus:
Unitus, Inc. is a worldwide leader at scaling innovative solutions to global poverty. Unitus accelerates access to life-changing financial services for those at the bottom of the economic pyramid-the 3 billion people who are living on less than $2 a day. We partner with the world's most promising microfinance institutions and provide them with breakthrough business strategies, technology, and access to capital that empower them to serve thousands more hardworking micro-entrepreneurs around the world. Unitus partners are adding new loan recipients eight times faster than the industry average. Our portfolio reaches more than 2.2 million families through 16 partners in Argentina, India, Indonesia, Kenya, Mexico and the Philippines. Our goal is to reach more than 15 million of the world's working poor by 2010. Unitus has been featured in the New York Times, the Wall Street Journal, and on National Public Radio, and received Fast Company magazine's Social Capitalist Award in 2005 and 2006.
Unitus is a 501(c)3 nonprofit, with offices in Redmond, Wash. and Bangalore, India. For more information, please visit www.unitus.com or contact us at info@ unitus.com.
Media Contact:
Mary Balmaceda
Director of Marketing and Communications
Unitus
Tel: 425-968-0514
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