ADB approves de Longuemar as new VP Finance and Administration

ISLAMABAD: The Board of Directors of the Asian Development Bank (ADB), acting on the recommendation of President Haruhiko Kuroda, has approved the appointment of Thierry de Longuemar, as Vice-President Finance and Administration.

As ADB’s Vice-President for Finance and Administration, de Longuemar will oversee the Office of the Secretary, Office of the General Counsel, Budget, Personnel and Management Systems Department, Office of Administrative Services, Controller’s Department and Treasury Department, says a press release issued here on Thursday from Manila, Philippines.

de Longuemar, who has over 26 years of experience in both multilateral financial institutions and private banking, will be responsible for the overall efficiency and effectiveness of the institution’s financial and administrative management.

As ADB’s Treasurer, de Longuemar was responsible for managing the institution’s extensive funding and investment activities.

In 2010, ADB raised $14.9 billion in public and private bond issuance to fund operations totalling $17.51 billion.

Prior to that, he held the position of Vice President Finance at the African Development Bank, where he led an internal reorganisation in 2005 and 2006.

The Board, acting on the recommendation of President Kuroda, has also approved Bindu N. Lohani, who has held the position of Vice-President (Finance and Administration) since April 2007, as Vice-President (Knowledge Management and Sustainable Development).

Lohani will oversee the Economics and Research Department, Office of Information Systems and Technology, and Office of Regional Economic Integration, and the Regional and Sustainable Development Department.

Copyright PPI (Pakistan Press International), 2011