The Asian Infrastructure Investment Bank (AIIB) appointed five vice presidents with work experience in both developed and emerging economies as well as multilateral institutions on Friday. The new development bank appointed Danny Alexander, who was chief secretary to the UK Treasury from 2010 to 2015, as vice president and corporate secretary, according to an AIIB press release.
Kyttack Hong, chairman and CEO of the Korea Development Bank, will serve as vice president and chief risk officer.
D.J. Pandian, another vice president who had an extensive career spanning 30 years with the Indian Administrative Services, will also be the bank's chief investment officer.
Joachim von Amsberg, currently vice president of development finance at the World Bank, will serve as the AIIB's vice president of policy and strategy.
The bank also appointed Luky Eko Wuryanto, who has served in senior positions in the Indonesian government for 20 years, as vice president and chief administration officer. AIIB President Jin Liqun, former vice finance minister of China, said 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".
Proposed by China, the AIIB aims to support infrastructure projects in Asia and has 57 prospective founding members with an authorized capital of 100 billion U.S. dollars. The bank was formally established in Beijing in December 2015 and started operation in January. Chinese Finance Minister Lou Jiwei was elected as the first chairman of the AIIB board of governors.
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