ABIDJAN, Ivory Coast, July 11, 2023/ -- The African Development Bank (www.AfDB.org) has appointed Mr Max Magor Ndiaye as Director of the Syndication, Co-financing and Client Solutions Department, effective 1st July 2023.

Ndiaye, a US national, is a structured finance, risk management, and capital markets professional with over 20 years of international public and private sector experience.

Before this appointment, he served as the Acting Director of the Syndication, Co-financing, and Client Solutions Department, simultaneously holding the position of Manager of the Co-financing & Syndication Division in the same department.

Ndiaye led the loan syndication and co-financing of numerous projects in Africa, the development and implementation of the Bank’s innovative financial products, the implementation and mainstreaming of balance sheet optimisation as a key strategy for the Bank and the financial structuring of diverse initiatives and projects across various sectors.

He successfully led the recent structuring, design and closing of a $2 billion balance sheet optimisation transaction with the UK government and London-based private insurers, which enabled significant additional lending capacity for the Bank in climate and green growth.

Ndiaye played a crucial role in designing and structuring a $1 billion synthetic securitisation transaction in 2018. This transaction attracted first-time institutional investors to Africa and set a new standard within the multilateral development banks’ sphere.

He led the syndication of different projects across Africa with a combined value to date exceeding $2.5 billion. He also led the negotiation and closing of the co-financing partnership with Japan, for a combined amount of $8 billion over the past 5 years.

Ndiaye has been the vice-chair of the Hybrid Capital working group which has helped deliver ground-breaking innovations for the Bank, including the structuring and design of the Bank’s maiden hybrid capital issuance and the rechanneling of the IMF Special Drawing Rights through the multilateral development bank conduit.

He joined the Bank in 2009 as Senior Treasury Risk Officer and was later appointed Principal Financial Analyst in the Treasury Department. He became Manager of the Financial Technical Services Division in 2018, and later served as Acting Director of the Syndication, Co-financing and Client Solutions Department.

Prior to joining the Bank, Ndiaye worked at International Finance Corporation’s Treasury Liquid Asset Management Department, and Wachovia Bank in the USA on the foreign exchange, interest rate and derivatives trading desk.

He holds a master’s degree in Finance and Capital Markets from Ecole Supérieure de Gestion de Paris (1999) and a Master of Business Administration from the University of North Carolina at Charlotte (2004).

Commenting on his appointment, Ndiaye said he was very grateful to President Adesina for this appointment and the confidence and trust bestowed upon him. “I look forward to continuing to serve the Bank at this very interesting time of multilateral development bank’s evolution, where resource mobilisation, balance sheet leveraging, partnerships and innovation, will be key in delivering on the Bank’s mandate and the forthcoming Ten-Year Strategy,” Ndiaye said. “I am humbled, excited, and privileged to be in a position to reinforce the Bank’s leadership in these areas,” he said.

The President of the Bank Group, Dr Akinwumi A. Adesina said he was pleased to appoint Max Magor Ndiaye as Director of the Syndication, Co-financing and Client Solutions Department. “Max, a seasoned, well-rounded, and respected professional, has been leading the Bank’s balance sheet leveraging and innovative financing mechanisms, which received widespread recognition, including as part of the work undertaken by the G20 independent expert panel on multilateral development banks’ capital adequacy frameworks,” Dr Adesina said. “His solutions-oriented approach, combined with a strong capacity to deliver will be critical in catalysing financing in the ongoing reforms of the international financial architecture,” the President said.