The Washington, D.C. based Institute of International Finance (IIF) voted Thursday to elect Brian Porter, Bank of Nova Scotia president and CEO Brian, as its new treasurer.
Porter, who has been on the IIF board since 2014, replaces Marcus Wallenberg, who is retiring and stepping down from the IIF board.
Also Thursday, the global banking industry trade group announced that Axel Weber, chairman of UBS Group AG, will become chairman of the IIF in 2017. He will serve a five-year term.
“The financial industry continues to evolve through ongoing regulatory efforts and technological advances that are now combining to transform business models and the very structure of our financial system. The IIF’s depth of expertise and its ability to bring all stakeholders to the table is needed now more than ever,” said Weber, in a news release.
“The IIF will continue work on key trends that will shape the future of our industry, such as fintech and green finance.”
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