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IFC appoints representative director at City Bank

  • Published at 09:03 pm November 16th, 2020
Rebecca Brosnan
Rebecca Brosnan Courtesy

In March 2017, the Bangladesh Bank allowed City Bank to sell 5 per cent of its shares worth Tk 130 crore to IFC

Rebecca Brosnan has been appointed in the City Bank board as nominated director of International Finance Corporation (IFC), as the global lender and member of World Bank Group holds 5% share of the bank since 2017.

Brosnan is now the Chief Operating Officer of Mother’s Choice, a leading NGO dedicated to serving children without families and pregnant teenagers in Hong Kong, said a press release.

At Mother's Choice, she is responsible for organization-wide strategic development, financial management, impact measurement; and running seven front-line business verticals.

City Bank and IFC signed an agreement on IFC’s investment in City Bank’s equity shares on February 24, 2016.

The Board of Directors of the bank earlier that year approved entering into shareholders agreement and subscription agreement among The City Bank Ltd and the IFC under which IFC will buy 4.61 crore fresh shares of City Bank with an issue price of Tk. 28.30 a share.

In March 2017, the Bangladesh Bank allowed City Bank to sell 5 per cent of its shares worth Tk 130 crore to IFC.

Prior to joining Mother’s Choice in 2016, Brosnan served in several senior roles at the Hong Kong Exchanges and Clearing Limited (HKEx) including its Managing Director - Head of Product Development, and Head of Asia Commodities.

As Managing Director of HKEx, she developed and executed strategies to lead the agency into the global commodities market, and executed the strategy to acquire the London Metal Exchange.

Before joining HKEx in 2010, she led the execution and origination of equity, debt, equity-linked and M&A transactions across Asia in the Investment Banking Division of Merrill Lynch.

Brosnan serves as a Director of the Board and Chairman of the Finance Committee of Generations Christian Education, which operates several primary schools in Hong Kong.

In 2016, China Daily and the Asia News Network awarded her with the “Asian Women’s Leadership Award” recognizing her as an agent of change in her community and a role model in entrepreneurship & in the empowerment of women. 

She is an alumna of the General Management Program at Harvard Business School, and also holds an MA in the History of International Relations from London School of Economics, and a BA in Economics from Trinity College, USA.

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