September 18, 2008, Redwood City, Calif. – Omidyar Network today named Ian Callaghan as senior director, investments, marking the organization’s first hire in Europe. The move reflects Omidyar Network’s desire to grow its presence among potential European partners and to expand its portfolio of investments and grants that create positive social impact in Africa and India. Callaghan’s initial focus will be on microfinance and small-to-medium size enterprise finance. Callaghan was previously head of Morgan Stanley’s microfinance institutions group, based in London.

“Ian is a recognized authority in microfinance and finance for small to medium enterprises. We are delighted to have him on the team,” said Matt Bannick, managing partner at Omidyar Network. “Having a presence in Europe will help accelerate Omidyar Network’s efforts to make economic opportunity a reality for those who need it most.”

Born and raised in West Africa, Callaghan has nearly 20 years of experience as a banker, business owner and consultant. From 2005-2008, Callaghan led Morgan Stanley’s microfinance efforts and was responsible for deals that resulted in $250 million in loans to 35 microfinance institutions in 20 countries. In 2007, Callaghan completed the sector’s largest transaction to date with Blue Orchard for $110 million, earning the Financial Time’s “Sustainable Deal of the Year” award in 2008.

“Omidyar Network’s focus on market-based approaches, innovation and creating opportunity for people around the world made this position a natural fit for me,” said Callaghan. “I look forward to building upon the solid foundation already created by Omidyar Network in the microfinance space.”

As a consultant in London from 2000-2004, Callaghan advised major banks on topics such as small to medium enterprise finance and risk. From 1990-2000, Callaghan owned and operated several tourism and hospitality businesses in the Western Isles, one of Europe’s most remote and economically disadvantaged communities.

About Omidyar Network
Omidyar Network is a philanthropic investment firm committed to creating opportunity for individuals. Established by Pierre Omidyar, the founder of eBay, and his wife Pam, Omidyar Network supports nonprofit and for-profit efforts that enable people around the world to improve their lives and make powerful, lasting contributions to their communities. Since 2004, Omidyar Network has funded a number of organizations in areas such as microfinance, social media, and government transparency. To learn more about Omidyar Network, please visit www.omidyar.net.