Before entering the office of Managing Director, Köhler had spent time in Indonesia during the 1997 Asian financial crisis and thereafter cited it as an example of the fund's tendency towards intrusive micromanagement. Instead, he intended to focus the Fund primarily on broad economic management and to reduce overlapping activity with the World Bank. Shortly after taking office in 2000, he established the Financial Sector Review Group under the leadership of John Lipsky to provide an independent perspective on the Fund's work on international financial markets, In March 2001, on the group's recommendations, he created the International Capital Markets Department, a unit to anticipate and head off financial crises in countries to which the fund makes loans.