Economist Neelkanth Mishra was on Thursday appointed as Executive Director of the World Bank in the US for a tenure of three years.

He will succeed incumbent Parameswaran Iyer, a 1981 batch retired Indian Administrative Service (IAS) officer of Uttar Pradesh cadre.

Iyer was appointed to the post in February 2023.

The Appointments Committee of the Cabinet (ACC) has approved Mishra's appointment as Executive Director, World Bank Headquarters, Washington DC, USA, for a tenure of three years from the date of assumption of charge of the post, a Personnel Ministry order said.

Mishra is a part-time member of the Economic Advisory Council to the Prime Minister (EAC-PM), an independent body constituted to give advice on economic and related issues to the Central government, specifically to the prime minister.

A gold medallist from the Indian Institute of Technology, Kanpur, Mishra is the Managing Director and Co-Head of Equity Strategy, Asia Pacific, and the India Strategist for Credit Suisse, according to his official bio data.

He is also a part-time chairperson of Unique Identification Authority of India (UIDAI) and part-time member of Telecom Regulatory Authority of India (TRAI).

The ACC has also approved the extension of Iyer's tenure as Executive Director, World Bank Headquarters, beyond June 19, 2026, until Mishra joins the post, it said.