China taps five vice presidents for AIIB

The Asian Infrastructure Investment Bank (AIIB) on Friday appointed five vice presidents with experience helping both developed and emerging economies, as well as multilateral institutions, reported state news agency Xinhua.

AIIBDanny Alexander, the former chief secretary to the UK Treasury from 2010 to 2015, was named vice president and corporate secretary.

Kyttack Hong, chairman and chief executive officer of the Korea Development Bank, will serve as vice president and chief risk officer.

Vice president D.J. Pandian, will also be the new bank’s chief investment officer. He served 30 years with the Indian Administrative Services.

Joachim von Amsberg was named vice president of policy and strategy. He’s currently vice president of development finance at the World Bank.

The bank appointed Luky Eko Wuryanto as vice president and chief administration officer. He has served in senior positions in the Indonesian government for 20 years.

The leadership team is “an exceptionally strong and committed group who will bring wide and varied experience and a wealth of expertise that will serve the bank well,” said AIIB President Jin Liqun, who was the former vice finance minister of China, in a written statement.

Formally established in Beijing in December with 57 founding members and $100 billion in capital, the Chinese-led AIIB began operations last month. Its purpose is to fund and support infrastructure projects in Asia.

Chinese Finance Minister Lou Jiwei was elected as the first chairman of the AIIB board of governors.



Categories: Asia Unhedged, China, India, Koreas, Southeast Asia

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