Tsutomu Yamamoto Named MIGA Managing Director to Lead Global Guarantee Growth

The World Bank Group has announced the appointment of Tsutomu Yamamoto as the new Managing Director of the Multilateral Investment Guarantee Agency (MIGA). As MIGA becomes an increasingly pivotal part of the global development finance ecosystem, Yamamoto is set to play a central role in advancing the World Bank Group Guarantee Platform, which is critical to scaling private sector investment in emerging and frontier markets.

Yamamoto, a seasoned financial executive with over 30 years of global banking experience, joins MIGA from Mizuho Financial Group, where he most recently served as Senior Managing Executive Officer and Head of the Global Transaction Banking Unit. He will officially assume his new post in early December, succeeding Hiroshi Matano, under whose leadership MIGA evolved into the operational home of the World Bank’s consolidated guarantee platform.

A Global Career Anchored in Development Finance

Yamamoto’s appointment reflects the World Bank Group’s ongoing commitment to leveraging private capital for public good. His experience spans international finance, project development, and strategic partnerships, with a career built across Asia, the Americas, and Europe. Since joining Dai-Ichi Kangyo Bank — one of the legacy institutions that merged to form Mizuho — in 1991, Yamamoto has held numerous executive-level roles that position him well for his new responsibilities.

World Bank Group President Ajay Banga underscored Yamamoto’s strategic value to MIGA:

“Tsutomu Yamamoto has more than 30 years of experience in banking and finance at Mizuho. Given the crucial role guarantees have to play in mobilizing the private sector to create jobs, his expertise will be invaluable for growing our guarantee business.”

Yamamoto’s leadership at Mizuho included critical work on digital transformation, bank-fintech partnerships, and the digitalization of electronic bank guarantees. His close collaboration with development institutions, such as the Japan International Cooperation Agency (JICA), led to successful co-financing of infrastructure projects in emerging economies — a model he is expected to scale further at MIGA.

Leading the World Bank Group Guarantee Platform

MIGA, under Yamamoto’s leadership, will continue to steer the World Bank Group’s Guarantee Platform, which has become a key instrument in de-risking private investment in fragile and developing markets. The Platform aggregates guarantee instruments from MIGA, the International Finance Corporation (IFC), and the International Bank for Reconstruction and Development (IBRD), allowing for more efficient structuring of blended finance solutions.

In FY2025, the Guarantee Platform supported $12.3 billion in transactions, a 19% year-over-year increase, signaling growing global demand for risk mitigation tools that support investments in infrastructure, renewable energy, health, education, and digital services.

Continuity and Expansion

Yamamoto’s appointment ensures continuity in strategic direction while ushering in new energy to deepen the World Bank Group’s impact through the private sector. As development financing faces increasing pressure due to global crises — from climate change to geopolitical shocks — guarantees are becoming an indispensable tool to crowd in private capital where traditional funding falls short.

Yamamoto will also be tasked with overseeing MIGA’s expanding mandate to support climate-resilient infrastructure, fragile and conflict-affected states, and innovative financial products that match the evolving needs of both investors and host countries.

Academic and Professional Credentials

Yamamoto holds a master’s degree from the Stanford Graduate School of Business, one of the world’s leading institutions in innovation and global finance. He also earned a bachelor’s degree from Keio University in Tokyo, a top-ranked university known for producing some of Japan’s leading public and private sector figures.

With his global insight, stakeholder management skills, and digital finance expertise, Yamamoto is expected to drive MIGA’s next growth phase as the agency continues to support sustainable and inclusive development globally.