The World Bank on Friday named Jin-Yong Cai, a Chinese national who worked for Goldman Sachs, to head its private-sector lending arm, placing an emerging market candidate in a top job.

The World Bank said it had picked Mr. Jin-Yong to be executive vice-president and chief executive of the International Finance Corp.

Mr. Jin-Yong previously served as a managing director at Goldman Sachs Group and was involved in Goldman’s management globally, IFC said in statement.