Masato Kanda Poised to Lead Asian Development Bank

Masato Kanda, Japan's former top currency diplomat, is set to become the head of the Asian Development Bank. There are no other candidates, and the board will vote on his appointment soon. Kanda, who was previously a vice finance minister, managed significant yen interventions during his tenure.

Masato Kanda, a prominent figure in Japan's finance sector, is on the brink of assuming leadership of the Asian Development Bank (ADB). The bank confirmed no other candidates were nominated, solidifying Kanda's path to presidency.

The ADB, founded in 1966, has consistently seen its top position filled by Japanese nationals, reflecting Japan's significant shareholder status alongside the United States. The upcoming vote by the board of governors is slated for Monday, with results to be announced by November 28.

Kanda, stepping into the role following the retirement of Masatsugu Asakawa on February 23, 2025, brings a wealth of experience. Notably, he spearheaded impactful currency market interventions while serving as vice finance minister for international affairs until July 2024.

(With inputs from agencies.)