Ex-Yen Chief Kanda to Lead Asia Development Bank, Yomiuri Says

(Bloomberg) -- Japan’s former top currency official Masato Kanda is set to be tapped to lead the Asia Development Bank, the Yomiuri newspaper reported Monday without citing a source.

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The report comes as current ADB president Masatsugu Asakawa said in a statement he plans to step down on Feb. 23, 2025. Asakawa also served previously as the Finance Ministry’s top currency official. The top position at the ADB has typically been taken by high-ranking Japanese bureaucrats including multiple former currency chiefs.

Kanda, who oversaw Japan’s efforts to support the yen through repeated foreign exchange interventions, was appointed as a special adviser to the cabinet after stepping down at the end of July.

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