NAIROBI, 10 February, 2020 – The African Trade Insurance Agency (ATI) appointed Deepak Dave to the new positon of Chief Risk Officer (CRO) effective 3 February. The management level position is part of ATI’s medium-term strategy to strengthen its overall risk management function. The position is seen as key to ATI’s continued business and membership growth, which has resulted in a record number of new shareholders in 2019 including Chubb, the world’s largest publicly traded property and casualty insurance company, and two of Africa’s largest economies, Ghana and Nigeria.
Deepak brings over 20 years of global experience in banking, capital markets and private finance. In his most recent position at Riverside Advisory, he provided senior advisory services to Lion’s Head Global Partners for an African Development Bank Renewable Energy fund, the Trade & Development Bank on business strategy and Adventis Limited on product strategy. Deepak holds a Bachelors from McGill University and a Masters from the University of London.
The new CRO role is also expected to help ATI provide more value-added services to African governments with a focus on facilitating increased inward investment flows and including a focus on environmental, social and governance (ESG) risk factors that are increasingly required by investors and other stakeholders.
ATI is amongst the largest Development Finance Institutions (DFIs) in Africa, as measured by portfolio size, providing insurance guarantees that facilitate increased investment and trade flows to projects that benefit Africa.
QUOTE from Deepak Dave, Chief Risk Officer, ATI
“I am delighted to have the chance to contribute to the further growth of this unique institution. Managing the risks ATI takes within well-defined parameters and growing our service and product offerings will mean the team protects the interests of associates, shareholders and clients.”
QUOTE from John Lentaigne, Ag CEO, ATI
“ATI’s rapid growth in recent years, as well as its heightened business profile, requires a strengthened risk management function. We are delighted to bring Deepak on board joining ATI’s existing Management team in this important role. His significant experience will allow ATI to continue its robust growth trajectory whilst broadening the managerial team and strengthening our risk functions.”