The Dutch development bank, FMO has appointed Jürgen Rigterink as the new Chief Executive Officer, effective October 1.

Rigterink will succeed Nanno Kleiterp, who has been FMO’s CEO since 2008.

The appointment is subject to approval by the Dutch Central Bank, and informing the shareholders meeting.

Rigterink has been a member of the Management Board of FMO since 2008.

He initially served as Chief Investment Officer and from 2014 served as Chief Risk & Finance Officer.

He will continue to observe the responsibilities of this role until a replacement has been found.

Rigterink started his career at Bank Brussels Lambert working in Brussels, Chicago and New York before joining ABN AMRO in 1997.

He has since served in a variety of senior positions including Sector Head for Central & Eastern Europe, Middle East and Africa.

In 2005, he was appointed Chairman of the Management Board and Country Executive at ABN AMRO Bank Kazakhstan.

Rigterink has a Master’s degree in Economics from Rijks Universiteit Groningen, the Netherlands, and is also a Member of the Board of Directors of the Royal Tropical Institute (KIT).

Jean Frijns, Chairman of the Supervisory Board of FMO, said: “Jürgen Rigterink brings a breadth of knowledge in emerging markets and top level management experience across the banking spectrum.”

“The Supervisory Board considers him particularly well placed to deliver on FMO’s strategic priorities of contributing to the Global Goals by driving inclusive and sustainable development abroad and providing international finance for Dutch business,” he said.