At a time when many bankers are effectively moving into the public sector, David Mulford is going the other way. The 71-year-old banking veteran is returning to Credit Suisse Group as its vice chairman of international operations after serving a five-year stint as U.S. ambassador to India. Working out of the bank’s New York and London offices, Mulford will advise government institutions, much as he did in heading the bank’s privatization business from 1992 to 2003. "Governments around the world now face a number of issues resulting from their having been brought more into the private sector," he tells Institutional Investor.

The Rockford, Illinois, native led the privatization of the Italian oil and petrochemicals group Ente Nazionale Idrocarburi in the 1990s and served as undersecretary and assistant secretary of the U.S. Treasury’s Office for International Affairs from 1984 to 1992. Before that he advised Saudi Arabia’s central bank, the Saudi Arabian Monetary Agency, on its investment strategies as the head of international finance at Boston investment bank White, Weld & Co.