On the basis of his CV, Charles Frank appears to have been planning to join a multilateral organization all his career. He has strong academic credentials, experience in government as well as an impressive track record in banking and project finance.
Then there's his personality, which also seems ideally suited to the task ahead. He is noted for being calm, diplomatic and patient. Multilaterals can be frustrating places to work and anyone who gets rattled easily is unlikely to survive.
But even armed with these skills can Frank provide the kind of leadership the EBRD needs? Critics say that while the EBRD has improved its performance there is still a need for more flexibility and a greater appetite for risk. The danger is that the EBRD does projects that the private sector would do anyway, rather than exploring less mainstream areas.
Frank, who joined the bank in September, is aware of the challenge."There are a number of things I'd like to achieve," he says. "One is to streamline the bank's decision-making process and reduce the amount of documentation required to get a deal approved. I want to make the bank very profitable while at the same time pursuing its objectives in assisting in the transition from centrally planned to market economies, as well as making sure that our financing is additional, that is that we are not competing with the private sector but collaborating with it.