Washington, D.C., December 23, 2011—IFC,
a member of the World Bank Group, announced today that Thierry Tanoh, IFC
Vice President for Latin America and the Caribbean, Sub-Saharan Africa,
and Western Europe, will depart the institution in 2012 to become CEO-designate
of Ecobank Transnational Incorporated, a leading commercial bank in Africa.
Tanoh, who is currently based in Johannesburg, will leave IFC on July 15,
after nearly two decades of service. His appointment at Ecobank is effective
July 16. He will take over from current CEO Arnold Ekpe at the end of 2012.
“Thierry has been instrumental in expanding IFC's activities in emerging
markets," said Lars Thunell, IFC's EVP and CEO. "Under his leadership,
IFC's investments grew to more than $5 billion in Latin America and the
Caribbean, and to more than $2 billion in sub-Saharan Africa. His new appointment
is a clear sign of the market’s recognition of IFC’s accomplishments
in Africa during his tenure as Vice President for the region, and the expertise
that he will bring to his new position."
Tanoh was appointed IFC Vice President in 2008, after serving as regional
director for Africa. He was the first IFC Vice President to be based in
a developing country.
“Ecobank shares IFC’s commitment to building inclusive financial markets
in Africa and fostering sustainable private sector development,” Tanoh
said. “I look forward to leading this essential work at Africa’s premier
Tanoh joined IFC in 1994, working initially in the Asia Department. He
later specialized in the chemicals and petrochemicals sector, working on
transactions in Asia, Latin America and Eastern Europe. In 2001, he moved
to Brazil in 2001, focusing on transactions in Latin America.
Prior to joining IFC, Tanoh worked for a consulting firm in Paris and with
the banking commission of the Central Bank of West African States in Abidjan,
Cote d’Ivoire. He holds a Master of Business Administration degree from
Harvard Business School.
Ecobank, a pan-African bank with a network of more than 1,100 branches
and offices across 32 countries, is a longstanding client of IFC. The bank
received IFC’s Client Leadership Award in 2009.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, providing
advisory services to businesses and governments, and mobilizing capital
in the international financial markets. In fiscal 2011, amid economic uncertainty
across the globe, we helped our clients create jobs, strengthen environmental
performance, and contribute to their local communities—all while driving
our investments to an all-time high of nearly $19 billion. For more information,