CDC Group, the UK’s development finance institution, has appointed Nick O’Donohoe as its new chief executive officer (CEO).
O’Donohoe takes over from CDC’s current CEO, Diana Noble, in June 2017. He will lead the institution’s investment strategy of creating jobs while bringing sustainable development to sub-Saharan Africa and South Asia.
A senior advisor at Bill and Melinda Gates Foundation, O’Donohoe specialises in blended finance and has a rich history in impact investing. A member of the Global Impact Investing Network (GIIN), he co-founded the UK-focused Big Society Capital, established by the UK government in 2011.
He has also worked for JP Morgan as global head of research, and held positions on both the investment bank’s management committee and executive committee.
Noble said O’Donohoe “understands both impact and commercial investing”, adding that his skills would keep CDC on track to deliver its mission of serving the UK taxpayer as well as people in its target countries and regions.
Graham Wrigley, chairman of CDC, described the appointment as bringing together “a perfect balance of skills and experience”, citing O’Donohoe’s track record of “building market-leading businesses from both start-up and within large financial service groups”, along with his dedication to impact investing.
“Nick has exactly the right style of leadership, experience and values to lead CDC as we continue to be ambitious in supporting essential economic development in Africa and South Asia that will help people escape poverty for good,” Wrigley added.