On 22nd February 2021, Woochong Um of Republic of Korea was appointed as the new Managing Director General of Asian Development Bank (ADB). He assumed office on 22nd February and will be reporting to Masatsugu Asakawa, President of ADB.
Roles of Managing Director General:
i.He will assist the President of ADB to institute the bank wide coherence on various key initiatives and issues.
ii.He will also work on enhancing the internal and external communications of ADB across all the activities that involve: operations, knowledge, fund raising, and institutional reforms.
About Woochong Um:
i.Woochong Um joined ADB in 1993 and has around 27 years of experience at ADB.
ii.He served as ADB Secretary from 2014 to 2018.
ii.He has served as the Director General of the sustainable development and climate change department of ADB and concurrently Chief Compliance Officer since June 2018.
iii.He monitored the administration of the trust funds and global fundings initiatives and served as the focal point of ADB for COVID-19 response.
iv.He has also worked with Pfizer Inc. in New York and Pitney Bowes Inc. in Stamford, Connecticut, United States.
Recent Related News:
On September 14, 2020 The Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi approved the appointment of Rajesh Khullar as the Executive
Director of World Bank and Sameer Kumar Khare as Executive Director of Asian Development Bank (ADB).
ADB is owned by 68 members(49 from Asia and the Pacific and 19 from others)
President– Masatsugu Asakawa
Headquarters– Metro Manila, Philippines
Established in 1966