Columbia University appointed as president the former deputy governor of the Bank of England and currently president of the London University of Economics, Nemat "Minouche" Shafik.
This is the first time that the prestigious American academic institution has elected a woman as president.
Ms. Shafik, an economist whose career has focused on public policy and academic studies, will be the 20th president of Columbia University starting July 1, the institution said in a statement Wednesday.
Mrs. Shafik started her career at the World Bank, becoming the youngest vice president of this institution, at the age of 36. She later served as deputy executive director of the International Monetary Fund and as a senior official at the United Kingdom's Department for International Development.
Ms. Shafik's appointment comes as other educational institutions have recently appointed women to head universities, including Harvard University, which last month named Claudine Gay as president. She became the first African-American woman to hold Harvard's top post.
Jonathan Lavine, chairman of the Columbia University Board of Trustees, described Ms. Shafik, 60, as "the perfect candidate."
"What set Ms. Shafik apart as a candidate was her unwavering belief in the vital role that institutions of higher education can and should play in providing solutions to the world's most complex problems," added Mr. Lavine.
Ms. Shafik was born in Alexandria, Egypt.