05 January, 2016, Washington, DC – FINCA International, a global microfinance organization that mobilizes social investment, philanthropic capital and technological solutions to enable low-income individuals to invest in the future, is pleased to announce the promotion of Andrée Simon to Co-CEO of FINCA Microfinance Holding Company. Ms. Simon will lead strategy, operations, and the implementation of a host of digital and mobile enhancements that represent the next generation of essential financial services for people in developing economies.
Rupert Scofield, who co-founded FINCA in 1984, will continue as President and Co-CEO of FINCA Microfinance Holding Company through 2016. He is also President of FINCA International, the non-profit majority shareholder of the microfinance network that is under the holding company, and he sits on the boards of both entities.
The holding company was created in 2011 with leading social investor partners in order to scale up and transform FINCA’s microfinance subsidiaries into full-service financial institutions serving low-income entrepreneurs, including credit, savings, insurance, transactional services, and more.
“I have long admired Andrée’s leadership qualities and her commitment to creating a world where opportunity is afforded to everyone,” said Mr. Scofield. “She has the vision and passion to lead FINCA’s delivery of sustainable, responsible, and client-centric financial services, and she has a fantastic team committed to revolutionizing microfinance.”
Ms. Simon brings more than 20 years of experience in economic development and inclusive financial services. Since 2013, when she became COO of FINCA, she has been spearheading new product development and a shift towards a lower-cost business model that leverages new technology and credit scoring methodologies. Prior to this she was President and COO of Women for Women International, an organization dedicated to creating sustainable livelihoods and change for women in conflict. Ms. Simon also spent seven years as Deputy to the President and CEO of FINCA, and she has held various business and advisory roles in other organizations, including the Center for Strategic and International Studies, Marakon, and Women Advancing Microfinance International. Additionally, she is an Adjunct Professor in Foreign Service at Georgetown University.
According to Ms. Simon, “I am honored to work with a wonderful and dedicated global team. Rupert Scofield’s leadership and passion for helping the financially excluded around the world has helped usher in the global microfinance revolution. He’s been a beacon for many of us who believe in the social value of responsible, sustainable financial services. With mobile and online payment technologies and an even better understanding of what our clients really need from us, we have the chance to build on his legacy and achieve an even greater impact — empowering ever more people to build small businesses, create jobs, and access essentials for their families, such as education, clean water or solar energy products – all in a financially sustainable way.”
Ms. Simon holds a B.A. in international relations from the University of Virginia, an M.A. from The Johns Hopkins University School of Advanced International Studies, and an M.B.A. in finance from the University of Pennsylvania’s Wharton School.
About FINCA International
FINCA International’s mission is to alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living. FINCA is the non-profit creator and majority owner of a network of innovative microfinance institutions serving 1.8 million people in 23 countries with a “double bottom line” approach to financial sustainability and social impact. In addition to microfinance, FINCA is building FINCA+, a social enterprise partnership and accelerator program to improve access to impactful non-financial products and services in developing countries, including solar energy for off-grid households and small businesses.