Washington, D.C., October 27, 2014 - The Institute of International Finance (IIF) announced today that Ben Kruger, Group Chief Executive of Standard Bank Group, and Nobuhide Hayashi, President and CEO of Mizuho Bank Ltd, have joined the IIF Board of Directors.
"The IIF is the premier global association for the financial services industry, and our new board members will bring important and distinctive insights that will help guide the IIF," said Douglas Flint, Chairman of the IIF Board of Directors and Group Chairman of HSBC Holdings plc.
"The IIF's Board of Directors has a global perspective that is uniquely positioned to address the broad range of issues our industry faces," said Tim Adams, President and CEO of the IIF. "I look forward to working with each of them to ensure the IIF remains a global leader for the financial industry."
Ben Kruger, Group Chief Executive of the Standard Bank Group Ltd., replaces Jacko Maree who left the Board in October. Kruger joined Standard Bank Group Ltd in 1985 and was appointed to his current role beginning in 2013. In addition to his role as Group Chief Executive, Kruger serves as an Executive Director of SBSA, Chairman of SB Plc, and Director of Stanbic Africa Holdings.
Nobuhide Hayashi, President and CEO of Mizuho Bank Ltd. replaces Takashi Tsukamoto who also left the Board in October. Nobuhide Hayashi has been President and CEO at Mizuho Bank, Ltd. since April 2014. Hayashi joined the company in 1980 and served as Deputy President of Mizuho Corporate Bank, Ltd. and Mizuho Bank, Ltd. since April 2013. Mizuho Corporate Bank, Ltd. and Mizuho Bank, Ltd. merged into Mizuho Bank, Ltd. in July 01, 2013.
Kruger and Hayashi were formally appointed to the IIF Board of Directors during the October 2014 IIF Annual Membership Meeting (AMM), beginning the start of their three-year term.
In addition, the following Board members were re-elected by IIF membership to serve an additional three-year term, also effective at the October 2014 AMM: Gary Cohn, Francisco Gonzalez, Piyush Gupta, Nobuyuki Hirano, Anshu Jain, Steve Kandarian, Chanda Kochhar, Masayuki Oku, Daniel Pinto and Roberto Setubal.
Ibrahim Dabdoub, former Group Chief Executive of the National Bank of Kuwait, has retired from the Board. Mr. Dabdoub was on the Board from September 2005 to October 2014.
The Institute of International Finance is the global association of the financial industry, with close to 500 members from 70 countries. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. Within its membership IIF counts commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks and development banks. For more information visit www.iif.com.