The Brazil, Russia, India, China and South Africa grouping’s New Development Bank (NDB) has announced the allocation of formal responsibilities to the bank’s four VPs.
VP Xian Zhu would be responsible for operations, including project lending, operational compliance and project procurement, as well as the regional offices of the NDB.
VP Leslie Maasdorp would be responsible for the treasury and portfolio management, as well as the finance budgeting and accounting functions.
VP Paulo Nogueira Batista Jr would be responsible for economic research, risk management, strategy and partnerships, while VP Vladimir Kazbekov would be responsible for human resources, information technology, administration and corporate communications.
“We are pleased with our progress, to date, in finalising our broad policy framework and organisational structure, which will now enable us to progress to the next phase of our establishment.
“After completion of the initial start-up phase, we are now in a position to allocate formal responsibilities with immediate effect to the four VPs. We will now be in a position, over the next few months, to commence our talent acquisition for our permanent staff complement,” said NDB President KV Kamath.