The Asian Development Bank (ADB) on Monday said its board has unanimously elected Masatsugu Asakawa as its new president.
Asakawa, 61, currently special advisor to Japan's Prime Minister and Minister of Finance, will assume office as ADB's 10th President on January 17, 2020.
He will succeed Takehiko Nakao, who will leave office on January 16, 2020.
Asakawa will finish the unexpired term of President Nakao, which ends on November 23, 2021, the Manila-based multilateral funding agency said in a statement.
In a career spanning close to four decades, Asakawa has held a range of senior positions at the Ministry of Finance of Japan, including Vice Minister of Finance for International Affairs, and gained diverse professional experience in development policy, foreign exchange markets, and international tax policy, it said.
He served as a Visiting Professor at the University of Tokyo from 2012 to 2015 and at Saitama University from 2006 to 2009, it added.
He obtained his Bachelor of Arts from the University of Tokyo in 1981 and MPA from Princeton University in 1985.
Established in 1966, ADB is owned by 68 members.
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