Japan’s Nakao named new ADB president

MANILA, Philippines - The Asian Development Bank (ADB) has appointed Takehiko Nakao as its new president to serve out the remaining three years of erstwhile president Haruhiko Kuroda.

Nakao, 57, a former Japanese Vice Minister of Finance for International Affairs, will assume office as ADB’s ninth president tomorrow.

In a career spanning more than three decades, Nakao held senior positions in Japan’s Ministry of Finance, with extensive experience in international finance and development.

He also served as visiting professor at the University of Tokyo in 2010 and 2011, teaching international finance.

Born in 1956, Nakao holds an economics degree from the University of Tokyo and a Master of Business Administration from the University of California in Berkeley.