Caroline Reid has been appointed Director General of the Projects Directorate of the European Investment Bank (EIB), the European Union's long-term financing institution.
The Projects Directorate (PJ) is responsible for the technical, environmental and economic evaluation of projects. It has a professional staff of engineers and economists and accounts for more than 10% of the Bank's total staff. It was created in 1995 through the merger of the economic and technical services of the former "Economic and Financial Studies" and "Technical Advisory" Directorates responsible for project appraisal.
Mrs Reid succeeds Herbert Christie, who is retiring. Mr Christie has been Director General of PJ since its inception, and before that he was Head of the Economic and Financial studies. Before joining the EIB, Christie worked mainly in the UK Treasury.
Mrs Reid joined the EIB in 1974 as an Energy Economist. In 1985 she was transferred as a loan officer to the Energy/Environment Division of the Department for lending in Italy based in Rome. She was promoted Head of Division in 1988 and six years later became the first woman to become a member of the Bank's Senior Cadre, on her appointment as Director of the Italy Department. She is currently the most senior woman on the EIB's staff outside the Management Committee (Executive Board).
Mrs Reid holds a B.Sc Honours degree in Economics and Statistics from Bristol University. She started her professional career in 1969 as an Assistant Economist for the British Gas Council. She then worked for the National Institute of Economic & Social Research in London.