Analysis & opinion

The Banker Board – May 4, 2023

Simon Duffy | 4/05/2023 10:53 am
The Banker Board

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A weekly look at some of the most recent and influential people moves across the global banking industry. Simon Duffy reports.

Ajay Banga
 

Ajay Banga – president, World Bank

The World Bank’s board of governors has elected former Mastercard CEO Ajay Banga as its new president for a five-year term beginning in June. Mr Banga was nominated for the position by US president Joe Biden in February as the sole candidate to succeed the outgoing World Bank head David Malpass, who recently announced his resignation after facing criticism over his stance on climate change. 

Mr Banga joins the World Bank from private equity firm General Atlantic, where he currently serves as vice-chairman. Prior to that, he spent more than a decade at Mastercard as its president and CEO. He also worked at Citi from 1996 to 2009, climbing the corporate ladder to eventually become CEO of its Asia-Pacific business. 

Congratulating Mr Banga on his “resounding approval” by the World Bank’s board of governors, Mr Biden said in a press statement: “Ajay Banga will be a transformative leader, bringing expertise, experience and innovation to the position of World Bank president. 

“And together with World Bank leadership and shareholders, he will help steer the institution as it evolves and expands to address global challenges that directly affect its core mission of poverty reduction – including climate change.”
Christian Meissner
 

Christian Meissner – partner, BDT & MSD Partners

The former head of Credit Suisse’s investment banking division, Christian Meissner, has joined international merchant bank BTD & MSD Partners. Mr Meissner will become a partner at the company, which is backed by technology billionaire Michael Dell and run by former Goldman Sachs bankers, Byron Trott and Gregg Lemkau. 

Mr Meissner resigned from Credit Suisse in October last year, after the bank announced plans to restructure its top-performing investment banking businesses into its New York-based CS First Boston affiliate. Prior to Credit Suisse, he ran Bank of America’s investment bank from 2010 to 2018.
Jason Auerbach

Jason Auerbach – global head of technology investment banking, Moelis & Company

Independent investment bank Moelis & Company has doubled the size of its technology investment banking team with the hiring of 11 former Silicon Valley Bank (SVB) deal-makers. The team will be led by Jason Auerbach, who has been appointed global head of technology investment banking. 

Mr Auerbach brings more than 25 years of industry experience to the expanded team. Prior to leading SVB’s global technology coverage, he worked at UBS, where he served as the bank’s global co-head of technology, media and telecom investment banking.
Aline Pacheco

Aline Pacheco – team head, south-east Asia, Julius Baer

Swiss private banking group Julius Baer has appointed Aline Pacheco as its new team head for south-east Asia. She joins from UBS, where she has served in numerous senior wealth management roles as part of a career that spans more than two decades. 

Ms Pacheco most recently led client teams focusing on markets in the Philippines, Thailand and Malaysia. Before that, she was head of Asia-Pacific equities within UBS’s wealth management capital markets division. 

Ms Pacheco’s appointment follows the bank’s recent hiring of veteran wealth manager Chin Lit Yee as head of south-east Asia and comes as Julius Baer continues to intensify its focus on expansion in the region.

 

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