05/03/2015 7:53 AM IST | Updated 15/07/2016 8:25 AM IST

Obama Re-Nominates Indian-American To Key Administration Post

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SOCHI, RUSSIA - FEBRUARY 18: Secretary General of the International Fair Play Committee Sunil Sabharwal speaks onstage for the International Fair Play Awards at the USA House in the Olympic Village on February 18, 2014 in Sochi, Russia. (Photo by Joe Scarnici/Getty Images for USOC)

WASHINGTON — US President Barack Obama has re-nominated Sunil Sabharwal, an independent Indian-American investor, to a key administration post as Alternate Executive Director at the IMF.

First nominated in April 2014 to the position of Alternate Executive Director of the International Monetary Fund (IMF), Sabharwal has been an independent investor in the payments sector since 2006.

Obama sent his decision to re-nominate Sabharwal to the Senate yesterday as the nomination was waiting the upper house's approval. His confirmation hearing was held in May last year.

Sabharwal was born to an Indian father and a Hungarian mother in New Delhi. His parents separated when he was 9, and he moved to Budapest.

He was the Chairman of the Board of Ogone, a European ecommerce payment services company, from 2011 to 2013.

He advised Warburg Pincus on its acquisition of easycash, a German network services company, subsequently becoming a Board Advisor from 2006 to 2009.

From 2003 to 2006, Sabharwal was Senior Vice President of Strategic Investments at First Data Corporation/Western Union.

From 1997 to 2003, he held several positions at GE Capital, including Managing Director.

From 1992 to 1996 he worked at the European Bank for Reconstruction and Development, most recently as Principal Banker.

Sabharwal received a B.S. from The Ohio State University and an M.S. from the London Business School.

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