Formal responsibilities have been allocated to the four vice-presidents of the Brics (Brazil, Russia, India, China, and South Africa) economic grouping’s New Development Bank. Bank vice-president (and South African) Leslie Maasdorp (pictured), has been named CFO. He will be responsible for the treasury, portfolio management, and finance budgeting and accounting functions.
Maasdorp is joined by Xian Zhu (chief operations officer), Paulo Nogueira Batista Jnr (chief risk officer), and Vladimir Kazbekov (chief administration officer).
With the vice-presidents now allocated their responsibilities, the Bank will shift its focus in the coming months to the hiring of permanent staff. The Bank opened its headquarters in Shanghai, China, in July this year.
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