World Bank appoints new vice president

World Bank President Jim Yong Kim Friday announced the appointment of Hiroshi Naka as vice president and auditor general of the bank.

Naka, a Japanese national, has more than 25 years of experience working with the Japanese ministry of finance and multilateral organisations, where he specialised in issues such as economic sanctions, anti-money laundering, and supervision of financial institutions, Xinhua quoted the bank as saying.

"Hiroshi's expertise will greatly benefit the World Bank Group, " Kim said. "He has a deep knowledge of controls and broad experience in policy coordination, foreign exchange control, supervision of international and Japanese banks, and managing complex relationships with multilateral organisations."

Naka will be responsible for providing leadership on evaluating and improving the effectiveness of the organisation's risk management, control, and governance processes. His appointment will be effective July 2014.