Leslie Maasdorp has been selected as the new Chief Executive of the UK’s development finance institution British International Investment.

Maasdorp has had a broad career across development finance, climate finance, investment and wider financial services. 

Most recently he was Vice-President and Chief Financial Officer of the New Development Bank (NDB), the multilateral development bank.

He is a recognised leader in the field of development and climate finance in emerging markets, having played a key role in the formation and growth of NDB.

Maasdorp has a deep-rooted knowledge and understanding of the emerging and developing economies on which BII is focused. 

His experience in development is complemented by a background in financial services as well as in several leadership posts in the Government of South Africa.

The selection follows an extensive global search, led by BII’s Board. 

Maasdorp will succeed Nick O’Donohoe, who is retiring after over seven years in the post.

BII invests about £1 billion a year in markets across Africa, Asia and the Caribbean. BII is the UK government’s primary vehicle for delivering climate finance in emerging markets and has investments in nearly 1,600 companies across 65 countries.

Diana Layfield, BII’s Chair, said: “The Board and I are delighted to welcome Leslie as the new CEO for BII. His broad career across financial services and the public sector, and his proven track record of success within international development and climate finance, positions him extremely well to lead BII. Leslie’s unique perspective and leadership qualities will enable him to build on the great work of our outgoing CEO, Nick O’Donohoe. His lived experience of many of our markets, his values and his deep personal passion for development will be immensely valuable as we continue to respond to the environmental, economic and social needs of our markets.”

Maasdorp said: “I am thrilled and deeply honoured to join British International Investment at this critical time when development finance institutions continue to evolve and innovate to play a key role in the sustainable development of emerging economies. I spent time studying in London and I am delighted to return to the city – a key global financial centre at the forefront of development thinking.

“The private sector is the principal engine of economic growth and prosperity. BII plays a vital role in supporting economies to grow, create jobs and raise living standards in Africa, Asia and beyond. I look forward to working alongside the dedicated professionals at BII, who are deeply committed to this mission to contribute to sustainable development.”

Nick O’Donohoe, BII’s outgoing CEO, said: “BII is a unique organisation committed to development and improving lives in some of the world’s most challenging countries. I am delighted to hand over to Leslie who I know will bring great experience, leadership and most importantly the passion for development outcomes that will ensure BII continues to deliver its mission for all its stakeholders and beneficiaries.”

Maasdorp will join BII later this autumn. 

His recruitment is subject to Financial Conduct Authority approval.