Andrew Cross, chief financial officer (CFO) at the Asian Infrastructure Investment Bank (AIIB), is leaving the institution in November, according to an October 14 media release from the bank.
Joining in 2019, Cross (pictured) oversees AIIB’s controller and treasury functions, developing financial products and maintaining the institution’s credit ratings.
The release recognised his efforts that have enhanced the bank’s reputation with global investors, leading to a favourable cost of capital. He was also noted for helping transform the bank’s financial management and digital transformation.
Posting on LinkedIn, Cross disclosed that he will be taking on a new senior leadership role outside of Asia.
“I am proud to have contributed to its growth and evolution during a defining period for the bank,” he added. Prior to AIIB, Cross spent over 13 years at the International Finance Corporation (IFC), with a most recent role of deputy treasurer.
Liqun Jin, AIIB president and chair of the board of directors, commented: “[Cross’] exemplary leadership qualities, his technical excellence and his clear, forthright approach, have been invaluable assets in supporting our mission.”
The release added that replacement for Cross’ CFO role will be hired through an open, competitive process.
Headquartered in Beijing, AIIB is a multilateral development bank built to finance infrastructure projects across Asia Pacific (Apac) markets. It was established in 2016 and currently has 110 member states.
Earlier in the year, Cross spoke to FinanceAsia about AIIB’s growth plan, including discussions on private capital mobilisation and sustainability infrastructure initiatives. He said that AIIB plans to deploy at least another $75 billion by 2030.
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