The National Development Bank, sponsored by the BRICS countries, announced formal allocation of responsibilties to four vice presidents. Accordingly, Xian Zhu, will be chief operations officer responsible for operations, including project lending, operational compliance and project procurement as well as the regional offices of the bank, Leslie Maasdorp will be chief financial officer and responsible for the treasury and portfolio management as well as the finance budgeting and accounting functions, Paulo Nogueira Batista Jnr will be chief risk officer responsible for economic research, risk management, strategy and partnerships and Vladimir Kazbekov will be chief administration officer and responsible for HR, IT and corporate communications. The announcement was made by K.V. Kamath, president of the bank, who said the bank is on track in finalizing its broad policy framework and organizational structure which will now enable it to progress to the next phase of its establishment. After completion of the initial start-up phase, the bank is now in a position to allocate formal responsibilities with immediate effect to the four vice presidents and hoped that the bank will now be in a position over the next few months to commence its talent acquisition for permanent staff complement.
