ADB appoints Bhargav Dasgupta as Vice-President for market solutions

The Asian Development Bank (ADB) on Friday appointed Bhargav Dasgupta, MD and CEO of ICICI Lombard General Insurance, as Vice-President (market solutions) for a period of three years.

He will be responsible for management of the operations of ADB's Private Sector Operations Department and Office of Markets Development and Public–Private Partnerships, ADB said in a statement.

An alumnus of Indian Institute of Management Bangalore, Dasgupta replaces Ashok Lavasa, former Finance Secretary and Election Commissioner of India.

Dasgupta, who tendered resignation from his position as managing director and CEO on Thursday, has over 35 years of experience across a range of economies, including in Asia and the Pacific.

He led ICICI's successful initial public offering, making it the first listed general insurance company in India, the statement said.

In his earlier years at ICICI Bank, Dasgupta held various leadership positions in project finance, corporate banking and treasury, e-commerce, international banking, and insurance.

He also led the establishment of international operations in 14 countries through branches, subsidiaries, or representative offices, it said.

Established in 1966, ADB is owned by 68 members -- 49 from the region. It is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.

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