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MICHAEL CUSHING JOINS EX-IM BANK AS GROUP VICE PRESIDENT-RESOURCE MANAGEMENT

FOR IMMEDIATE RELEASE October 18, 2001

Media Contact Name/Phone: 

Marianna Ohe (202) 565-3200

Michael Cushing, an executive with broad government and private sector experience in administration and finance, will join the Export-Import Bank of the United States (Ex-Im Bank) as group vice president-resource management effective October 22, 2001, Chairman John E. Robson announced today. Cushing comes to Ex-Im Bank from the Overseas Private Investment Corporation (OPIC) where he was managing director for administration.

Michael Cushing's expertise in a wide range of administrative areas including strategic planning and information technology management will be especially valuable in equipping Ex-Im Bank to operate efficiently in the fast-changing global environment, Robson said.

In his new position, Cushing will oversee Ex-Im Bank's Human Resources and Administrative Services offices, Equal Opportunity and Diversity Program, and Employee Development and Training. As a member of senior management, he will participate in budget decisions and help develop and implement Ex-Im Bank goals and objectives.

Before his term at OPIC, a federal government agency that supports U.S. investment in developing market economies, Cushing served in the Office of Workforce Relations in the U.S. Office of Personnel Management.

In the private sector, Cushing was chief financial officer of Rand Real Estate Services, Inc., Westport, CT, and before that an attorney specializing in financial institution investment development, restructuring and commercial leasing.

Cushing received a bachelors degree from Harvard University and a law degree from Harvard Law School.

Ex-Im Bank is an independent federal agency that assists in financing the export of U.S. goods and services to developing markets around the world, through export credit insurance, loan guarantees, and direct loans. In fiscal year 2001, Ex-Im Bank helped to finance approximately $12.4 billion of U.S. exports worldwide.