Before joining the World Bank in Dec 2010 he was Executive Vice President of Microfinance International (MFIC) and responsible for the company's remittance system, ARIAS. ARIAS offers financial institutions and mobile and online payment providers an automated and highly compliant money transfer solution with payment capabilities in over 90 countries.
Mr. Schmitz was previously co-founder and Chief Operating Officer of Money Systems, a leading provider of remittance management systems in Europe. He was responsible for the development of Money Systems' remittance software, managed the introduction of this platform to markets in Europe and Africa, and negotiated a multi-million dollar investment from a private equity fund.Mr. Schmitz has served as an industry representative or money transfer expert at various events, including before the U.S. House of Representatives' Foreign Affairs Committee and at conferences of the World Bank, Inter-American Development Bank, the United Nations, the Bretton Woods Committee and Wall Street investment banks. Originally a commercial attorney, Mr. Schmitz worked for law firms in Hamburg, Germany and in London handling matters such as corporate restructurings, management for outsourcing projects and joint ventures.
In addition to his J.D. from the University of Hamburg and admission to the German Bar, Mr. Schmitz has an M.B.A. with a focus on Business Strategy from Henley Management College in London. A native of Germany, he is fluent in German and English and speaks basic Spanish.
