Takehiko Nakao

Takehiko Nakao
中尾 武彦

Nakao in 2016
9th President of the Asian Development Bank
Assumed office
April 2013
Preceded by Haruhiko Kuroda
Personal details
Born (1956-03-05) March 5, 1956
Osaka, Japan
Alma mater University of Tokyo
University of California, Berkeley
Occupation Civil servant

Takehiko Nakao (中尾 武彦 Nakao Takehiko, born 1956) is a Japanese civil servant who was elected the ninth president of the Asian Development Bank in 2013.[1]

Career

Nakao was a career civil servant with the Finance Ministry of Japan which he joined in 1978.[2] During his career, Nakao served variously as Minister at the Embassy of Japan in Washington D.C. and as an economic advisor at the International Monetary Fund in the mid-1990s.[3] As Japan's top currency official, Nakao oversaw the Japanese government's largest ever currency market intervention following the sharp appreciation of the yen in 2011.[2] He was also the Japanese representative at the G7 and G20 summits in 2012.[4] Before his nomination for the presidency of the Asian Development Bank, Nakao was Vice Minister of Finance for International Affairs, which is the senior most civil service appointment within Japan's Finance Ministry.[5]

Education

Nakao holds a degree in economics from the University of Tokyo where he later taught international finance during 2010-2011. He also holds a MBA degree from the University of California, Berkeley.[6] In 2008, he authored the book America’s Economic Policy: Can it Sustain its Strength?.[2]

Election as President of the ADB

Nakao was nominated by Japan to succeed his compatriot Haruhiko Kuroda, who resigned in March to become the governor of the Bank of Japan. Since its inception in 1966, the ADB's presidents have all been Japanese and although there was talk of a Chinese challenge, Nakao remained the sole nominee for the post.[5] He was unanimously elected president by the Board of Governors of the ADB and assumed office on April 28, 2013. Nakao will complete the term of his predecessor in November 2016.[1][7]

Role as president

As ADB President, Nakao has identified securing financial resources for the ADB and promoting public-private partnerships as focus areas and has called for a “more innovative, more inclusive and more integrated” development of the Asia-Pacific region. The ADB is expected to continue its focus on infrastructure, environment, regional integration, inclusiveness and gender equality, cofinancing initiatives and internal reforms to overcome the ADB's resource crunch and to streamline its performance.[8]

References

  1. 1 2 "ADB board electsTakehiko Nakao as president". Times of India. April 27, 2013. Retrieved 27 May 2013.
  2. 1 2 3 "Nakao nominated to head ADB". Japan Times. March 8, 2013. Retrieved 27 May 2013.
  3. ↑ "Biography: Takehiko Nakao". Asian Development Bank. Retrieved 27 May 2013.
  4. ↑ "Japan's Takehiko Nakao elected Asian Development Bank president". Financial Times. April 26, 2013. Retrieved 27 May 2013.
  5. 1 2 "ADB appoints Takehiko Nakao as new President". The Hindu Businessline. 26 April 2013. Retrieved 27 May 2013.
  6. ↑ "ADB Elects Former Japan MOF Official Takehiko Nakao as President". Wall Street Journal. April 26, 2013. Retrieved 27 May 2013.
  7. ↑ "Takehiko Nakao elected new ADB president". Business Standard. April 26, 2013. Retrieved 27 May 2013.
  8. ↑ "Takehiko Nakao's vision for Asia-Pacific". Retrieved 27 May 2013.
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