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Acharya said the GGGI has been working to set up an investment service, involving mainly people with banking backgrounds, to support countries in preparing projects that appeal to the private sector.
Mantha and his co-founders Ankush Singh and Kunal Sangwan came from various banking backgrounds.
And 41% of the startup founders graduated with MBAs from colleges including Harvard, INSEAD and LBS, with 35% of founders coming from management consulting and banking backgrounds.
Stiglitz thinks that part of this approach is cultural, noting that a number of Treasury officials have banking backgrounds, including Secretary Jack Lew, who used to work at Citigroup.
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2.17pm GMT A selection of reaction from the UK media: Ben Chu (@BenChu_) Stephen Hester has an investment banking background.
A contributor from a banking background said that banks all too often avoid poor communities because they see them as low-profit.
Of Mr. Rhea, she said, "All I see is a Wall Street person with an investment banking background and with no experience in housing management or development".
Echoing these comments, the report said too few non-executive directors have a sufficient banking background, and a perception has arisen that independent-minded people are weeded out during the board selection process.
With our team's investment banking background, experience shows that forecasting venture capital investment is a fool's errand.
"Coming from an investment banking background, I have seen biases at work in regards to founders and funding," Anderson told TechCrunch.
Some asset managers, with investment banking background, emphasize to their client the knowhow they possess in designing a suitable issue: bonds, shares, derivatives products and structured instruments, and the fact that they go through the appropriate regulatory approval chores.
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