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News Release

Three Global Leaders Join Peterson Institute for International Economics Board of Directors

April 2, 2014

Contact:    Brian Reil    (202) 454-1334

WASHINGTON—The Peterson Institute is pleased to announce the addition of three new members to its Board of Directors: Charles D. Lake II, president of Aflac International Incorporated and chairman of Aflac Japan, Phillipa (Pip) McCrostie, global vice chair—Transaction Advisory Services (TAS) at EY (formerly Ernst & Young), and former World Bank President and US Trade Representative Robert B. Zoellick, chairman of Goldman Sachs' Board of International Advisers. Their appointment reflects the Peterson Institute's commitment to maintaining a diverse and truly international board, with both the expertise and practical experience that will help the Institute address the challenges facing the world economy.

"Bob, Charles, and Pip all are notable for their ongoing success working across borders, in both the corporate and public arenas, and for their shared belief that sound economics is the best basis for sustainable business and public policy. Those attributes are of course also guiding principles of the work of the Peterson Institute," said Adam S. Posen, president of the Institute. "On behalf of the Institute's distinguished Board of Directors, I am thrilled to welcome their commitment to working with all of the Institute's team and stakeholders to maximize our capabilities and impact in making globalization work."

Charles D. Lake II joined Aflac International in February 1999 and Aflac Japan four months later. Lake previously practiced law in Washington, DC, and earlier served as director of Japan affairs and special counsel at the office of the US Trade Representative. Based in Tokyo, Lake currently serves as chairman of the US-Japan Business Council and president of the Maureen and Mike Mansfield Foundation. He is also chairman of the American Council of Life Insurers' International Committee and serves as a director on the board of the (US) Coalition of Service Industries, as well as of the Japan Exchange Group. Charles is president emeritus of the American Chamber of Commerce in Japan.

Pip McCrostie, who joined EY in 1987, focuses on ensuring EY's global TAS practice delivers exceptional client service to help leading corporations, private equity firms, governments, and state-owned enterprises achieve their strategic transaction and capital goals. She is a member of the EY Global Executive—the organization's highest management body globally. Based in London, she leads more than 10,000 TAS professionals in 140 countries around the world. Her global practice helps clients navigate the modern and unprecedented M&A challenges businesses face in a post-financial crisis global economy. She is a New Zealand citizen.

Robert B. Zoellick continues his long-standing involvement with the Peterson Institute, having most recently served as the Institute's first Distinguished Visiting Fellow following the completion of his five-year term as president of the World Bank Group. Zoellick previously served as a member of the Institute's Advisory Committee from 1993–2001. Before his term at the Bank, Zoellick served as vice chairman, international, of the Goldman Sachs Group as well as managing director and chairman of Goldman Sachs' Board of International Advisors from 2006–07. Previously, he was Deputy Secretary of State in 2005–06 and a member of the cabinet as US Trade Representative from 2001 to 2005. In addition to his role at Goldman Sachs, Zoellick is a member of the board of Temasek, the Singapore sovereign wealth fund.

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About the Peterson Institute

The Peterson Institute for International Economics is a private, nonprofit institution for the rigorous, open, and intellectually honest study and discussion of international economic policy. Its purpose is to identify and analyze important issues to making globalization beneficial and sustainable for the people of the United States and the world and then to develop and communicate practical new approaches for dealing with them. The Institute is widely recognized as nonpartisan. It receives its funding from a wide range of corporations, foundations, and private individuals from the United States and around the world, as well as from income on its endowment.