World

A Former Wall Street Bigwig Just Became President Of Peru

REUTERS/Mariana Bazo

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JP Carroll National Security & Foreign Affairs Reporter

Wall Street banking millionaire and ex-American, Pedro Pablo Kuczynski (known as PPK) was sworn in Thursday as president of Peru.

Kuczynski is a Princeton University graduate who has spent much of his life living in Washington, D.C., New York City, and Miami. The Ivy Leaguer held American citizenship from May 1999 to November 2015 when he willingly gave it up so that he could run for president in Peru, where he was born and raised.

The career banker and economist has held many roles over the years at various organizations including the World Bank in Washington D.C. and CS First Boston, which is now Credit Suisse. At CS First Boston, Kuczynski rose to the level of Managing Director before leaving for Miami where he bought himself a condo in the well-to-do Coconut Grove neighborhood and started a $150 million fund with the backing of the likes of Bank of America among others.

PPK, was born to a family of Jewish refugees that went to Peru in search of a better life. Peru’s new president is 77 years-old and had previously served his country as prime minister from 2005 to 2006.

Besides having called Miami home for many years, the Peruvian leader also owns a multi-million dollar home in Washington, D.C. While on the campaign trail, PPK emphasized his life experience both in the public sector and on Wall Street as the reasons why he was most qualified to become Peru’s president.

PPK came to power in what was one of the closest election results in modern Peruvian history after winning in a runoff election in June just 41,000 votes ahead of the political scion Keiko Fujimori. Despite having won the presidency, PPK must share power with Fujimori since her party, Popular Force, controls 73 out of 130 seats in Peru’s unicameral Congress.

The length of PPK’s presidential term is from 2016 to 2021. PPK’s inauguration, like that of previous Peruvian presidents is held on July 28, the country’s national day.

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