The Asian Infrastructure Investment Bank has appointed five new vice presidents.

The sign of the Asian Infrastructure Investment Bank, or AIIB in Beijing, capital of China. [Photo / Xinhua]

The new officers boast experience in both developed and emerging economies as well as multilateral institutions.

The bank appointed Danny Alexander, former chief secretary to the UK Treasury, as vice president and corporate secretary.

Kyttack Hong, chairman and CEO of the Korea Development Bank, will serve as vice president and chief risk officer.

D.J. Pandian, another vice president who had an extensive career spanning 30 years with the Indian Administrative Services, will also be the bank's chief investment officer.

The bank also appointed Luky Eko Wuryanto and Joachim von Amsberg, as vice presidents.

AIIB President Jin Liqun says the leadership team is "an exceptionally strong and committed group."

Zhou Qiangwu with Chinese Ministry of Finance said the appointment of vice presidents means the AIIB has entered a new stage and the selection of other significant positions will start soon.

"The AIIB should be efficient and simply administrated. All the senior executives are selected through open competition. We chose these five vice presidents based on their working experience, education and professional ability."

Proposed by China, the AIIB aims to support infrastructure projects in Asia and has 57 founding members.

The bank was formally established in Beijing in December 2015 and started operation in January.

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