World Bank Group President Ajay Banga appointed David Vaillant as Managing Director and Chief Financial Officer.
Vaillant will oversee financial management, treasury operations, and risk management across the World Bank Group’s balance sheet.
The organization deploys capital across more than 100 developing countries.
As CFO, Vaillant will also oversee bond issuance across the International Bank for Reconstruction and Development, International Development Association, and International Finance Corporation.
Those institutions collectively raised nearly $82 billion from international capital markets during fiscal 2026.
Vaillant will also support the World Bank Group’s effort to mobilize more private capital for development.
His responsibilities will include developing financing vehicles and instruments designed to attract institutional and other private investors at scale.
Vaillant spent approximately two decades at BNP Paribas.
Most recently, he served as Global Head of Finance, Strategy and Participations at BNP Paribas Asset Management.
In that role, he led the €5.1 billion acquisition of AXA Investment Managers.
The transaction created one of Europe’s largest asset managers, with approximately €1.6 trillion in client assets.
Vaillant previously served as Managing Director and Head of Banking for EMEA at BNP Paribas Corporate and Institutional Banking.
He also helped develop the firm’s sovereign advisory practice and advised governments and central banks on complex financial transactions.
Earlier in his career, Vaillant worked at Banque de France and practiced law focused on cross-border transactions.
He has also served on boards of financial institutions and fintech companies in Asia and Latin America.
KEY QUOTES:
“David has spent his career managing finance at scale and working closely with investors, governments, and central banks to build financial architecture that makes institutions deliver outsized impact.”
Ajay Banga, President of the World Bank Group
“This is the ideal combination of experience needed to run the World Bank Group’s finance function, manage risk, and expand the private capital we mobilize for development.”
Ajay Banga, President of the World Bank Group
“I am deeply honored to join the World Bank Group and to serve its mission: end extreme poverty and boost shared prosperity on a livable planet.”
David Vaillant, Managing Director and CFO of the World Bank Group
