CDC Group, the UK’s development finance institution, has selected Nick O’Donohoe as its new Chief Executive Officer, effective June 2017.

The appointment is subject to formal approval from the Financial Conduct Authority and following a transition handover from current CEO Diana Noble.

O’Donohoe will lead CDC as it continues to scale up its work to help build businesses and create jobs in Africa and South Asia. 

Commenting on the appointment, O’Donohoe said: "I am very excited to get the opportunity to lead CDC at this important point in its history.  The capital that the organisation provides has never been more important in supporting economic development and job creation in Africa and South Asia.  I am looking forward to helping CDC continue to grow, to innovate and to transform lives in some of the world's poorest regions."

O’Donohoe has considerable experience in the financial and investment sector.  

He joins CDC from the Bill and Melinda Gates Foundation, where he currently serves a Senior Advisor, specialising  in the use of blended finance models to support the work of the Foundation. 

He has been an innovator in impact investing, and has a passion for international development.  

He spent the first 30 years of his career working for leading financial services companies, across different asset classes and countries.  

In 2011, he co-founded Big Society Capital, which was established by the UK Government as “the world’s first social investment bank”.  

He served as its CEO from 2011 to December 2015.  

Graham Wrigley, Chairman said: “Nick has the perfect balance of skills and experience.  He understands the transformative effect that investing can make to peoples’ lives.  He has a proven track record of building market-leading businesses from both start-up and within large financial service groups, and has dedicated the last seven years of his career working in impact investing.” 

“Nick has exactly the right style of leadership, experience and values to lead CDC as we continue to be ambitious in supporting essential economic development in Africa and South Asia that will help people escape poverty for good.”

Noble added: “CDC’s history and dual mandate to deliver development impact alongside a return for the UK taxpayer makes it a special organisation to lead and I’m delighted to hand over stewardship of this great institution to someone who deeply understands both impact and commercial investing. Nick’s background of delivering public good through commercial skills, will ensure that CDC continues to deliver its mission, fulfilling its responsibilities both to UK taxpayers and the people in Africa and South Asia we want our investments to benefit.”