The Asian Development Bank named Bhargav Dasgupta, as Vice-president of Market Solutions for a period of three years. He formerly worked as Managing Director (MD) and Chief Executive Officer (CEO) of ICICI Lombard General Insurance.
He will be in charge of running ADB’s Office of Market Development and Public-Private Partnerships as well as its Private Sector Operations Department, the institution said in a statement. Ashok Lavasa, a former Indian Finance Secretary and Election Commissioner, is replaced by Dasgupta.
On Thursday, Dasgupta submitted his resignation as managing director and CEO of ICICI. Dasgupta has over 35 years of expertise in a range of economies, including in Asia and the Pacific.
He supervised ICICI’s successful Initial Public Offerings (IPO), which made it India’s first general insurance firm to be listed, according to the statement.
Dasgupta formerly held a variety of senior positions in ICICI Bank in the areas of project finance, corporate banking and treasury, ecommerce, international banking, and insurance.
ADB was founded in 1966 and is owned by 68 members, 49 of them are from the region. While continuing its efforts to end extreme poverty, it is dedicated to establishing a prosperous, inclusive, resilient, and sustainable Asia and the Pacific.