Washington, D.C., December 23, 2011—IFC, a member of the World Bank Group, announced today that Thierry Tanoh, IFC Vice President for Latin America and the Caribbean, Sub-Saharan Africa, and Western Europe, will depart the institution in 2012 to become CEO-designate of Ecobank Transnational Incorporated, a leading commercial bank in Africa.
Tanoh, who is currently based in Johannesburg, will leave IFC on July 15, after nearly two decades of service. His appointment at Ecobank is effective July 16. He will take over from current CEO Arnold Ekpe at the end of 2012.
“Thierry has been instrumental in expanding IFC's activities in emerging markets," said Lars Thunell, IFC's EVP and CEO. "Under his leadership, IFC's investments grew to more than $5 billion in Latin America and the Caribbean, and to more than $2 billion in sub-Saharan Africa. His new appointment is a clear sign of the market’s recognition of IFC’s accomplishments in Africa during his tenure as Vice President for the region, and the expertise that he will bring to his new position."
Tanoh was appointed IFC Vice President in 2008, after serving as regional director for Africa. He was the first IFC Vice President to be based in a developing country.
“Ecobank shares IFC’s commitment to building inclusive financial markets in Africa and fostering sustainable private sector development,” Tanoh said. “I look forward to leading this essential work at Africa’s premier financial institution.”
Tanoh joined IFC in 1994, working initially in the Asia Department. He later specialized in the chemicals and petrochemicals sector, working on transactions in Asia, Latin America and Eastern Europe. In 2001, he moved to Brazil in 2001, focusing on transactions in Latin America.
Prior to joining IFC, Tanoh worked for a consulting firm in Paris and with the banking commission of the Central Bank of West African States in Abidjan, Cote d’Ivoire. He holds a Master of Business Administration degree from Harvard Business School.
Ecobank, a pan-African bank with a network of more than 1,100 branches and offices across 32 countries, is a longstanding client of IFC. The bank received IFC’s Client Leadership Award in 2009.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit