DWM’s people

DWM is a global team dedicated to local impact. We’ve lived in more than 40 countries, speak more than 20 languages, and all share the same goal: true impact from successful investments.

  • All Team Members
  • Credit Committee (External)
  • Impact Management
  • Legal
  • Managing Partners
  • Operations
  • Portfolio & Risk Management
  • Private Debt
  • Private Equity
  • Products & Partnerships
  • Senior Advisors

Peter Johnson

Co-Founder, Co-Managing Partner

United States

As co-founder & co-managing partner, Peter helped create the model for making sustained, institutional-quality, market-return impact investments in emerging and frontier markets starting with DWM’s first impact investment in 1999. In the more than two decades since, Peter’s innovations and drive for higher standards in investing and impact have been influential across the industry.

At DWM today, Peter oversees fund management and key investor relationships, all within DWM’s investment focus of inclusive finance, agriculture and rural communities, off-grid solar and climate action, water and sanitation, education, housing and, a special focus of Peter’s, women’s economic opportunity.

Before co-founding DWM, Peter specialized in emerging and frontier markets as an investment banker at Bankers Trust (now Deutsche Bank), working out of London, New York and Cairo. From London, he structured direct investments in Asia, Latin America, and Eastern Europe. From New York, he created multiple bond issues to restructure $14 billion of debt to the U.S. government by sovereigns in Asia and Africa. In Cairo, Peter opened and managed the firm’s Egypt office and negotiated the company’s first debt-for-equity swap (Sudan) and first financing backed by workers’ remittances (Saudi Arabia to Egypt).

Peter has served on numerous impact investing-related boards, including as chairman of the pioneering women-focused microfinance & health institution Pro Mujer International.

Peter received a BS from the School of Foreign Service at Georgetown University and an MA from the Fletcher School of Law and Diplomacy at Tufts University. He is a native English speaker, competent in French and conversant in Spanish.

Edward Marshall

Co-Managing Partner, General Counsel

United States

As co-managing partner, Edward shares responsibility for leading DWM’s strategy, operations and business development, working closely with DWM’s senior team. As general counsel, Edward oversees legal and regulatory matters pertaining to DWM, its investment vehicles and overseas investments. Edward also serves as the chief compliance officer for DWM’s registered investment adviser and is a member of the DWM Equity Investment Committee.

Before joining DWM in 2009, Edward represented development finance institutions in project and structured finance transactions in emerging markets at the New York law firm Becker, Glynn, Melamed & Muffly. Before that, he was an associate at Mayer, Brown, Rowe & Maw in New York, where he represented underwriters in debt capital markets transactions in Latin America.

Edward graduated Phi Beta Kappa from the University of North Carolina at Chapel Hill with a BA in political science, earned a JD from the University of North Carolina School of Law, and earned a master’s degree in international affairs from Columbia University. He is a native English speaker and speaks Spanish. He served as a Peace Corps volunteer in Ecuador from 1996 to 1998.

Edward is a member of the New York Bar Association.

Khatia Babukhadia

Due Diligence Manager & Data Analyst

Georgia

Before joining DWM, Khatia was head of the Financial Institutions division at Isbank Georgia, where she was responsible for the origination, negotiation and execution of loan transactions for the bank and for the trade finance business and correspondent relations. Before her work at Isbank, she worked at Bank Republic (Société Générale group) and VTB Bank Georgia in similar capacities, including managing the borrowing portfolios.

Khatia holds bachelor’s and master’s degrees in international relations from Tbilisi State University and an MBA in finance, with merit, from the University of Sheffield, UK. She speaks Georgian, English and Russian.

Tamar Baiashvili

Credit Risk Manager, Georgia

Georgia

Tamar joined the DWM Portfolio & Risk Management team in 2022. Before joining DWM, she worked as a deputy head of the Macroeconomics and Statistics Department of the National Bank of Georgia, and before that served as a head of the Monetary Policy Division, gaining in total nearly a decade of experience in central banking. She has also worked for the European Investment Bank in Luxembourg and the microfinance institution FINCA Georgia. Tamar has academic experience as well, including university teaching.

Tamar earned a BA degree in applied economics from the University of North Dakota (US), a BS in economic information systems from the Georgian Technical University, country of Georgia, and an MS in applied economics from the University of North Dakota. She is fluent in Georgian, English and Russian.

Susan Balloch

Senior Advisor

United States

Susan is a senior advisor to DWM. She is a managing director of Golden Seeds, an angel investing group focused on investing in women-led, early stage companies. Previously, Susan was the chief operating officer of Global Impact Investing Network (GIIN), the industry association supporting impact investing. She was also previously executive director and principal for private equity at The Blackstone Group, executive director for private equity and at Welsh, Carson, Anderson & Stowe, and co-chief operating officer of the Investment Banking Group at Credit Suisse. Earlier in her career, Susan was a managing director at Donaldson, Lufkin & Jenrette where she focused on mergers and acquisitions and debt and equity financings.

Susan holds a BS in international economics from the School of Foreign Service at Georgetown University and an MBA from the Wharton School at the University of Pennsylvania.

Hannah Barton

Portfolio Associate

United States

Hannah joined the DWM Portfolio Management team after working in social impact consulting at IDinsight in Delhi, India. She previously worked on the Social Enterprise Finance team of the U.S. International Development Finance Corporation.

Hannah holds a BA in public policy and political science from Duke University and a master’s degree in public policy from the Harvard Kennedy School.

Mary Bellis

Office Manager/HR/Paralegal

United States

Mary joined DWM in 2019 with years of experience coordinating US companies’ interactions with companies and institutions outside the US. Before joining DWM, Mary worked with an international law office in New York City, and before that worked as a paralegal and business manager for an international mining company. Mary’s experience spans corporate transactions, legal, HR and logistics.

Mary holds a degree in paralegal studies and accounting.

Marie-Paule Claes

Credit Committee External Member

Belgium

Marie-Paule has more than 25 years of financial-sector experience including two decades in impact finance in emerging markets and developing countries. As an independent consultant, she provides advice to private and public clients in the areas of MSME finance, institutional and market diagnostics, risk management, business, and impact strategies.

Her earlier experience includes work on staff at the International Finance Corporation (IFC) as a principal investment officer in the Financial Institutions Group and pioneering work as a senior investment officer of the Belgian Investment Company for Developing Countries (BIO), where she built a partner network and investment pipeline and created operational tools and procedures. Marie-Paule started her professional career at ABN AMRO Bank, holding multiple positions. She has served and serves on multiple boards of directors and other governance bodies in the impact field.

Marie-Paule holds a master’s degree in commercial business engineering from Katholieke Universiteit Leuven and a master’s degree in management, with honors, from University of Barcelona and Katholieke Universiteit Leuven.

Robert Constantino

Managing Director, Private Debt

United States

Before joining DWM in 2013, Robert was a vice president at Citi in its Export & Agency Finance group, where he was responsible for the origination, structuring, negotiation, and execution of structured finance transactions for corporate and sovereign borrowers throughout Latin America. Prior to Citi, Robert worked at the Federal Reserve Bank of Chicago as a commissioned bank examiner covering financial institutions of varying size and complexity.

Robert graduated Phi Beta Kappa from the University of Wisconsin with a BA in economics and earned an MBA from the University of Chicago Booth School of Business. He also holds an MSc from the Universidad Torcuato di Tella in Argentina, where he studied as a Rotary Foundation Ambassadorial Scholar. He is fluent in English and Spanish and proficient in Portuguese.

Darya Graham

FP&A Specialist

United States

Darya is a financial planning and analysis (FP&A) specialist with a focus on evaluating financial aspects of new investment projects, developing financial models that can lead to more-informed strategic decisions and better control. She leads monthly management reporting, including forecasting, budgeting, analytical support, and internal process improvement.

Darya earned a BSs in mathematical methods in economics and an MSs in management from Novosibirsk State University, Russia, and an MBA from University of Plymouth, UK. She holds a Chartered Institute of Management Accountants (CIMA) operational level diploma in management accounting (UK).

Karin Kayser

Legal Team – Germany

Germany

Karin joined DWM’s legal and compliance team in 2019 after working for various recruiting companies as a consultant in recruiting and sales.

Karin studied marketing and languages and holds a bachelor’s degree in translation from the International University SDI München. She has earned the Certified Expert in Microfinance designation from the Frankfurt School of Management.

Uta Kayser

Director, Senior Counsel

France

Uta joined DWM in 2017 as senior counsel and serves as a transaction attorney on DWM’s cross-border investments. Uta has extensive experience in foreign investment and project finance in developing countries in the infrastructure and energy sector and experience in international taxation. She has lived and worked in Europe and in Ecuador, Colombia and Venezuela.

Before joining DWM, Uta represented airport and renewable energy public concessionaires in public-private partnerships (PPPs) and project finance and advised on transactions in Latin America and Germany. She served as the chief administrative officer of the Canadian-sponsored concessionaire that built and financed the international airport in Quito, Ecuador and has worked in the development of a US-sponsored renewable energy project.

Uta holds a first state law diploma, with distinction, from Ludwig-Maximilians-Universität München and a second state law diploma (bar admission) from the state of Bavaria. She speaks German, English, Spanish and French.
Uta is a member of the German bar.

Aditya Kumar

SSEA Senior Regional Representative

India

Aditya leads DWM’s debt investments in South & Southeast Asia. He started his career in consultancy, held strategic advisory roles in Asia, and subsequently gained experience in global investments across financial institutions and corporates.

Before joining DWM, Aditya worked at responsAbility Investments as co-head of financial institutions investments, climate finance, based out of Nairobi, and led the global sourcing, structuring, and execution of investments for the Global Climate Partnership Fund (GCPF). Before that, he worked at Rabobank International as assistant vice president, corporate banking, responsible for deal origination, execution, and relationship management of corporate clients.

Aditya holds an MBA from the Indian Institute of Management Ahmedabad and is an alumnus of the Indian Institute of Technology Kharagpur. He speaks English and Hindi.

Keboetswe Letsholo

Associate Regional Representative, Africa & Middle East

Botswana

Before joining DWM, Keboetswe spent six years at Norsad Capital, an impact investor and private credit provider focused on debt and debt-like investments across sub-Saharan Africa. During her tenure, she was involved in the origination, structuring, and closing of transactions across various sectors including financial services, soft and social infrastructure, agri-business, manufacturing, and hospitality.

Keboetswe holds a bachelor of finance degree (first class) from the University of Botswana and is a level 3 candidate in the CFA program.

Carolina Lozada

Associate Regional Representative, Latin America

Ecuador

Carolina joined the DWM Latin America Debt team in 2017 and brings extensive experience in rating and consultancy. She worked at Microfinanza Rating and Pacific Credit Rating, where she carried out credit and social ratings of financial institutions, microfinance institutions and issuers from a variety of economic sectors. Carolina has participated in consultancies for financial and microfinance institutions in South America on issues related to market research, feasibility studies, and strategic, financial and operational planning.

Carolina graduated as a commercial engineer with major in financial management from the Pontificia Universidad Católica del Ecuador and received a master's of management with distinction in agribusiness at Massey University in New Zealand. She was an awardee of the New Zealand Aid Development Scholarship.

Ashwin Mahabaleswara, CFA

Director, South & Southeast Asia

United States

Ashwin is regional manager for DWM’s debt investments in Asia and serves as a portfolio manager on the firm’s private equity team. Before joining DWM in 2012, Ashwin served as the head of finance and treasury for Grameen Financial Services, a microfinance institution in India. before that, he worked in the Indian capital markets at JM Financial (formerly JM Morgan Stanley) and as an investment executive advising institutions and high-net-worth individuals at Scotia Capital and Berkshire Securities in Montreal. He has also served as the chair of the Quebec chapter of the Indo Canada Chamber of Commerce.

Ashwin received a BA in Economics from McGill University. He is fluent in English and Kannada and functional in Hindi.

Ashwin is a CFA charterholder and holds the Canadian investment manager (CIM) designation.

Hunter Martin

Director, Latin America

Costa Rica

Hunter has been associated with DWM since 2010, serving on portfolio company boards in Bolivia, Peru and Mexico. He also has sourced new business for the DWM debt team and provides local perspective, having lived and worked in Latin America for much of the past 30 years.

Hunter brings senior-level finance and governance experience in Latin America. He has managed his own business advisory company for 15 years with clients including agricultural and microfinance institutions and development finance banks, and, previously, worked in development finance for nearly 20 years as a senior executive for the Latin American Agribusiness Development Corporation. He started his Latin American career with Dole Fresh Fruit in Central America.

Hunter earned a BA from the University of Virginia and an MBA from the University of Southern California. He is fluent in English and Spanish and conversational in French.

Naimjon Masaidov, CFA

Director, Eastern Europe, Central Asia & the Caucasus

United States

Naimjon joined Developing World Markets in 2013 as a consultant and works with the Eastern Europe, Central Asia and Caucasus debt origination team.

Before joining DWM, Naimjon worked for approximately eight years at IMON International, the largest microfinance institution in Tajikistan, ultimately as the head of treasury within the Finance department, where he focused on financial risk management and relationships with international lenders. He previously served as head of the Credit department.

Naimjon earned an MS in economics from the Technological University of Tajikistan and holds the certified accounting practitioner (CAP) designation from the Association of Accountants and Auditors of Tajikistan. He is fluent in Tajik, Russian and English and has a working knowledge of Persian.

Naimjon is a CFA charterholder.

Farai Masendeke, AFM

Private Equity Associate

South Africa

Before joining DWM, Farai worked at Verdant Capital, a specialist corporate finance firm in Johannesburg, South Africa, focusing on equity and debt transactions in the inclusive financial services sector across Africa. Before that, he worked at Silverspoon Wealth, assisting with financial planning and wealth management solutions for individual private clients. Farai started his career at BancABC, where he gained experience in the retail banking and microfinance sectors.

Farai holds a bachelor of commerce degree, with honors, in banking and finance from the Midlands State University and a master of science degree in finance and investments from the National University of Science and Technology. He also holds an Advanced Financial Modeler (AFM) designation from the Financial Modeling Institute.

Hazel Mazelin-Forbes

Senior Accountant

United States

As senior accountant, Hazel supports DWM’s CFO with accounting for the holding company and its entities. Before joining DWM in the US in 2019, Hazel worked in accounting for various organizations in London in line with UK GAAP as well as international financial reporting standards (IFRS).

Hazel is an honors graduate with a double major in economics and management from the University of the West Indies and holds an MSc degree in law and finance from Queen Mary University, London.

Hazel is a fellow of the Association of Chartered Certified Accountants (ACCA), holds the Canadian Investment Manager designation and has passed all three levels of the exam for a CFA charter.

Christopher Mehan

Chief Risk Officer

United States

Christopher oversees all aspects of risk management at DWM including governance and policies, new deal review, and ongoing portfolio monitoring. He is a member of the DWM Credit Committee.

Before joining DWM in 2015, Christopher held global market risk coverage roles for emerging markets, credit, and counterparty risk at Barclays and Merrill Lynch. His responsibilities included creating emerging markets and counterparty risk frameworks, defining controls, risk appetite, portfolio management, new transaction reviews, and other aspects of the businesses. Before his career in risk management, Christopher was a trader focusing on interest rate, foreign exchange, and commodity derivatives and options.

Christopher received a BS in economics from the University of Wisconsin, Madison and completed an executive program in market and credit risk at Stanford University.

Christopher holds a Series 7 license from the US Financial Industry Regulatory Authority.

Veronica Mezarina Lopez

Credit Risk Analyst

Peru

Veronica joined Developing World Markets in 2020 as a credit risk analyst. She previously was a risk senior analyst for Crediplaza, a fintech firm in Lima, Peru, and a senior investment analyst for Compass Group, an asset manager with a strong presence in Latin America focused on corporate credit and equities. Additionally, Veronica has extensive experience in senior risk roles in a commercial bank in Peru.

Veronica holds a bachelor’s degree in economics from Universidad Nacional Mayor de San Marcos (UNMSM) and an MBA from Universidad del Pacífico in Peru.

Nenad Milojevic

Funds Servicing Manager

United States

As transaction administrator, Nenad services loans issued to microfinance institutions (MFIs), coordinates with MFIs to ensure prompt payment, and provides invoices and interest schedules as needed. Nenad works closely with custodians, paying agents, and fund administrators on all aspects of fund operations.

Before joining DWM in 2010, Nenad was a project accountant for Plaza Construction in New York City overseeing financials for building projects up to $125 million in size.

Nenad received a BS in finance from Bloomsburg University in Pennsylvania. He is fluent in English, Serbian, Macedonian and Croatian.

Michael Moormann

Senior Advisor

The Netherlands

Michael has been a member of the Investment Committee of the DWM Microfinance Fund since 2010.

He has served since 2006 as a nominee as well as an independent director on the board several microfinance institutions in Kosovo and Cambodia. Currently, he is an independent director at LOLC Cambodia Plc where he is also the chairman of the Audit and Risk Management committees.

In 1971, Michael joined ABN AMRO Bank in the Netherlands and then held various positions of increasing responsibility within its international network. These positions included postings in Latin America, Africa and the Middle East and periods as country manager in the Philippines, Sri Lanka and Vietnam.

Michael is a graduate in business administration of Nijenrode University in the Netherlands.

Patrick Mumu, CFA

Analyst Regional Representative, Africa & Middle East

Kenya

Patrick’s early background was in equity research, and his experience now ranges across quoted equities, private equity, macro-economic research, and credit analysis. Before joining DWM, Patrick covered financial institutions in the SSA region, including banks, micro-finance, insurance, and investment companies, as a senior equity analyst at Standard Bank Group and an investment analyst at KCB Bank Group.

Patrick earned a bachelor’s degree in actuarial science from the University of Nairobi and is a CFA Charterholder. He is fluent in English and Swahili.

Levan Okradze

Associate Regional Representative

Georgia

Before joining DWM, Levan was an investment officer covering Eurasia for BlueOrchard Finance, and before that, a chief specialist in the Corporate and SME Credit Risks division at National Bank of Georgia. He has additionally worked for a number of global management consulting companies including KPMG, Baker Tilly and Nexia.

Levan holds an MBA from Grenoble Ecole de Management with a concentration in finance and digital banking. He holds an additional MBA from Caucasus University with a concentration in finance. He speaks Georgian, English and Russian.

Paras Puri, CFA

Risk Analyst, India

India

Paras joined DWM as a risk analyst in 2019 with a decade of experience in the wholesale banking industry. He was previously a credit analyst with Barclays Global Service Centre Private Limited.

Paras holds an MBA in finance from ICFAI University, Tripura. He is fluent in Hindi and English.

Paras is a CFA charterholder.

Aleem Remtula

Partner, Private Equity

United States

Aleem joined the DWM private equity team in 2009 and has nearly two decades of experience with socially responsible, double- and triple-bottom-line venture capital and private equity funds in the U.S. and Europe.

Before joining DWM, Aleem served as an investment associate for Bridges Community Ventures, a UK-based private equity and venture capital firm that invests in double- and triple-bottom-line projects in the most economically deprived areas of the UK. Before that, Aleem worked as a senior associate at the New York City Investment Fund, a private, double-bottom-line fund that invests in SMEs to promote the creation of jobs and improvement of impoverished areas of New York. Aleem started his career as a corporate finance analyst for JP Morgan, where he served in an advisory capacity for transportation and diversified industrials clients worldwide.

Aleem received a BA in economics and finance from Princeton University and an MBA from Harvard Business School. He is fluent in English and conversant in Hindi, Gujarati, Kutchi and Spanish.

Stephen J. Romaine

Senior Advisor

Japan

Steve is a senior advisor to DWM. He is an executive search consultant and executive coach supporting senior level executives in financial services and related industries. Steve is Japan representative of New Millennium Group, a global boutique search firm. Previously, he has been president of the Global Financial Services practice and president of the Asia-Pacific region at Korn/Ferry International. Prior to his career in search and coaching, Steve was an investment banker with Merrill Lynch, advising Japanese corporations and government clients on equity and debt financings, stock exchange listings and M&A transactions.

Steve earned a BA degree, summa cum laude, from Principia College and an MA in law and economics from The Fletcher School of Law and Diplomacy at Tufts University. He speaks English and Japanese.

Renzo Romani

Risk Associate

United States

Renzo joined Developing World Markets in 2017 after working as a pricing analyst at the pharmaceutical and biotechnology research firm Covance. He had previously worked in the financial sector at Development Financial Corporation of Peru (COFIDE) and Prisma NGO.

Renzo earned a BS in economics from San Ignacio de Loyola University in Peru and an MA in economics from Rutgers University. He is fluent in Spanish and English.

Alfredo Romero

Nominee Director for Portfolio Company

Peru

Alfredo has been associated with DWM since 2009, serving on portfolio company boards in Bolivia, Colombia and Peru. His long experience as an independent board member for companies of various sizes and sectors—including banking, microfinance, consumer goods manufacturing and distribution, pharmaceutical laboratory, agro-industry and others—positions him with a broad perspective on business exigencies and good governance skills.

Alfredo has served as consultant to, among many others, the World Bank and the undersecretary of the economy in Peru. He led the design and implementation of both the Peruvian private pension fund system and the privatization of state-owned enterprises.

Hannah Schiff

Director of Impact

United States

Hannah leads DWM’s impact strategy, measurement, and management. Her experience in impact investing and international development includes on-the-ground work in Africa, Asia, and Latin America, where she has specialized in defining, executing, and measuring the results of strategies to create meaningful positive social and environmental outcomes aligned with business value.

Before joining DWM, Hannah led a platform-wide impact strategy at Nuveen (the asset management arm of TIAA) and managed research at the Global Impact Investing Network (GIIN), where she launched a 10-year roadmap for the development of the impact investing industry. Hannah started her career in international development, managing projects focused on micro- and small-enterprise development in rural communities.

Hannah earned a bachelor’s degree in international relations from Brown University and a master’s degree from the Fletcher School at Tufts University with a focus on international business and development economics. She is fluent in English and Spanish.

Bibhash Sen

Regional Representative, South & Southeast Asia

India

Bibhash has experience in credit-oriented impact investing spanning underwriting, debt structuring, risk management, debt capital markets, and business development.

Before joining DWM, he was director of capital markets at Northern Arc in India, where he led origination and placement of both conventional and innovative finance instruments in microfinance, consumer, agriculture, vehicles, affordable housing, fintech/ed-tech, and other sectors. Earlier at Northern Arc, he headed the transaction management team and led portfolio management of subordinate debt instruments. Previously, Bibhash was manager of banking operations at a regional hub of Ujjivan Small Finance Bank.

Bibhash is an agri-tech graduate and holds an MBA from Xavier Institute of Management. He speaks English and Hindi and is proficient in several additional regional languages.

Amarprit Singh

Due Diligence Manager & Data Analyst

India

Before joining DWM, Amar worked at S&P Global (formerly IHS Markit) in OTC derivatives. At DWM, he works on due diligence aspects of transactions and global data analytics projects. He started his career at KPMG in audit.

Amar is a business graduate of University of Delhi. He is based in India and speaks English and Hindi.

Devendra Singh

Associate Regional Representative, Africa & Middle East

India

Devendra is responsible for Developing World Markets’ debt investments in the Africa & Middle East region. He joined DWM in September 2020 after working in the microfinance industry for six years with banking and finance institutions based in India including, most recently, Yes Bank, where he managed a USD 120 million microfinance portfolio and was responsible for origination, execution, and placement of a debt portfolio. Besides his professional work, he volunteers with Greenpeace and with ActionAid India in fulfillment of his obligation toward the environment and society.

Devendra holds a bachelor’s degree in commerce from MJP Rohilkhand University and an MBA in rural development management from the Indian Institute of Forest Management, an autonomous institute under the Indian Ministry of Environment, Forests, and Climate Change.

Ankit Singhal

Regional Representative, South & Southeast Asia

India

Ankit is responsible for Developing World Markets’ debt investments in Asia. before joining DWM in 2020, he worked with Alpen Capital, a boutique investment banking firm headquartered in Dubai, where he was responsible for execution and placement of debt, equity and M&A advisory deals in India across sectors such as food & agriculture, information technology, financial institutions, education and healthcare. He had previously worked with large corporate finance firms in the GCC region.

Ankit earned a bachelor of commerce degree from the University of Delhi and an MBA from the Institute of Management Technology Dubai/ESC Rennes France and holds a certificate in private equity from London Business School. He is based in Delhi and speaks Hindi and English.

Arjun Subramanian

Regional Representative, South & Southeast Asia

India

Arjun’s areas of expertise include wholesale lending in microfinance, agri-value chain, small businesses (MSME/SME), fin-techs, school finance, affordable housing, and corporates with an underlying theme of social impact businesses and financial inclusion. Before joining DWM, Arjun was an associate director for credit and risk at Northern Arc Capital in India involved with due diligence, relationship management, evaluating credit, structuring exposure, and establishing a monitoring framework.

Arjun holds a graduate degree in electronics and communication engineering and an MBA with a focus on environment management and development finance from the Indian Institute of Forest Management, an autonomous institute under the Indian Ministry of Environment, Forests, and Climate Change.

Suma Swaminathan

Director, Private Equity

United States

Suma joined DWM as a member of the private equity team in 2017. She had previously worked at Empire Valuation Consultants, a boutique consulting firm in NYC, and started her career in data analysis at Infosys Ltd, where she helped client finance companies execute loss forecasting and data governance. She also has experience working with partner weaver cooperative societies in the handloom industry in India to promote strategies for financial self-sufficiency.

Suma received a bachelor’s degree in electrical engineering from Osmania University in Hyderabad, India and an MBA from the New York University Stern School of Business, where she was designated a faculty scholar for social enterprise. She is fluent in Hindi, Telugu, Tamil and English.

Brad Swanson

Partner, Private Equity

United States

Brad heads DWM’s private equity business globally. He is also a member of the DWM Investment Committee. Before joining DWM in 2004, Brad served with investment banks and fund managers in Washington, DC (Global Environment Fund), London (Bankers Trust and BNP), and New York (DLJ), mainly focusing on emerging markets. He has also worked for the US government twice, first for the Department of State as a diplomat in West Africa in the 1980s, then in 2004 for the Department of Defense in the occupation government in Iraq, where he managed funding programs for medium-sized, small, and micro enterprises.

Brad wrote the chapter on capital markets in Microfinance: Emerging Trends and Challenges (Edward Elgar Publishing, 2009). His pro bono work includes a board seat with Partners for the Common Good, a non-profit community development finance institution in Washington, DC.

Brad earned a BA from Princeton University and an MBA from Columbia University. He speaks English and French.

Odette Tolliver

Partner, CFO

United States

As DWM’s chief financial officer, Odette oversees the firm’s financials and analysis of its business operations, budget, forecasts and trends. She manages the back office operations for the DWM Funds in Luxembourg as well as the servicing of all foreign funds for which DWM Asset Management acts as investment/fund manager. As a partner, Odette is involved in various strategic projects at the holdings level.

Before joining DWM in 2010, Odette worked as director/manager of operations in the service industry. She has entrepreneurial experience as well, having founded and managed one of the largest Xerox dealerships in Romania.

Odette received BS in mechanical engineering from the Polytechnic Institute of Bucharest, a master’s degree in accounting and financial management from Keller Graduate School of Management, and an executive MBA from Washington University in Seattle. She is fluent in Romanian and English and proficient in French.

Odette is a certified public accountant (CPA).

Jonathan Vanegas

Associate Regional Representative, Latin America

Nicaragua

Jonathan joined DWM in 2017 as a member of the Latin America debt team. Prior to DWM, Jonathan served for 7 years as monitoring officer at Global Partnerships in Managua, Nicaragua. He gained a wide range of experience in banking and microfinance in multiple countries across Latin America as branch deputy, credit risk analyst, and loan officer with ProCredit Bank and Financiera FAMA.

Jonathan holds a BA in business administration from the National Autonomous University of Nicaragua (UNAN) and an MBA from CEU San Pablo University of Madrid in Spain.

Zinaida Vasilenko

Regional Representative, Eastern Europe, Central Asia & the Caucasus

France

Zinaida has more than 15 years of experience in inclusive finance across Eastern Europe, Central Asia & the Caucasus (EECAC) including deal sourcing, financial risk analysis, underwriting, and loan structuring. Her origination and debt portfolio experience includes nine years at responsAbility Investment AG, Switzerland, and energy efficiency and green lending projects for the Global Climate Partnership Fund.

Zinaida has led business development, due diligence, and the investment process for debt facilities for microfinance, energy efficiency, and agriculture in countries including Armenia, Azerbaijan, Belarus, Benin, Bosnia, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Morocco, Russia, Tajikistan, Tanzania, Togo, Ukraine, Uzbekistan, Zambia, and others. She has also been involved in preparation of investment recommendations for investment vehicles based in Europe and in the US.

Zinaida holds a bachelor’s degree in international relations from Voronezh State University, Russia, a master’s degree in political economy and international relations from Moscow State Institute of International Relations and Political Economy, and a double master’s degree in international business, finance and strategy with a special course in development finance and country risk analysis from the Paris Institute of Political Studies (Sciences Po), France. Zinaida is a native Russian speaker and is fluent in English, French and Ukrainian.

Courtland Walker

Partner, Head of Products & Partnerships

United States

Courtland oversees DWM’s product development and related partner engagement. His previous experience at DWM spans investment monitoring, transaction management, macroeconomic, currency, and credit analysis, fund structuring and financial modeling. His product launch experience includes the DWM Microfinance Fund, DWM Microfinance Equity Fund, Daiwa Microfinance Fund, Inclusive Finance Equity Fund II, Actiam Institutional Microfinance Fund III, and the ORCA (Off-Grid, Renewable and Climate Action) Impact Note.

Before joining DWM in 2008, Courtland was a research analyst in the Development through Enterprise Group at the World Resources Institute in Washington, D.C. He is a co-author of “The Next 4 Billion: Market Size and Business Strategy at the Base of the Pyramid,” a joint report with the International Finance Corporation, analyzing spending in low-income market segments in developing countries and strategies for business engagement across development-related sectors.

Courtland has a BA in Economics, cum laude, from Harvard University and an MBA, with honors, from Columbia University. He is a native English speaker and speaks fluent French.

Barbara Wasmus

Credit Committee External Member

The Netherlands

Barbara is a member of the DWM Credit Committee and, since 2010, has served as an independent member of the investment committees of several DWM funds.

Barbara has more than 15 years of experience as an SME/microfinance banker in developing and emerging markets. At Wasmus Consulting, an MSME finance consultancy, she has implemented a wide range of assignments for financial institutions, funds and donors in Africa, the Middle East and Asia.

Barbara’s previous positions include founding CEO of ProCredit Bank Angola, deputy CEO of ProCredit Bank Kosovo, senior investment officer at Triple Jump, and a variety of other senior executive positions with financial institutions. In addition to her consulting work, Barbara is a non-executive director and chair of the Risk Committee of Finca Microfinance Bank Tanzania.

Barbara holds an MA in international relations from the University of Groningen, the Netherlands.

Darwin Yumiceba

Due Diligence Manager & Data Analyst

Ecuador

Darwin joined DWM from ISSPOL, Instituto de Seguridad Social de la Policía Nacional, in Ecuador, where he was an investment analyst. His financial supervision-sector experience includes positions at Ecuador’s Bank Superintendency and stock market, and he also served in that country at Class International Rating, a risk rating agency, where he reviewed and assessed financial institutions and other companies.

Darwin earned a degree in economics from the central University of Ecuador and a designation as senior specialist in finance and economics, part of the Master's Program in Financial Management and Risk Management, from Universidad Andina Simón Bolivar, where he is currently a master’s candidate in that program.