AIIB defends itself against allegations made by global comms lead upon his resignation

Beijing-based Asian Infrastructure Investment Bank (AIIB) has defended itself against the allegations made by its global comms lead Bob Pickard (pictured left) upon his resignation.

This comes as Pickard tweeted on 14 June that as a patriotic Canadian, this was his only course. “The bank is dominated by Communist Party members and also has one of the most toxic cultures imaginable. I don’t believe that my country’s interests are served by its AIIB membership,” he added.  According to its official website, the bank is led by president and chair of the board of directors Jin Liqun, who is currently the member of the Chinese Communist Party.

In response, AIIB said in a statement that it accepted the resignation of Pickard who served as the bank’s director general of the communications department since March 2022. It also said the bank has supported and empowered him to perform his role since he joined.

Pickard’s recent public comments and characterisation of the Bank are baseless and disappointing, the bank said. “We are proud of our multilateral mission and have a diverse international team representing 65 different nationalities and members at AIIB, serving our 106 members worldwide, many of whom have been with us since our formation in 2016,” the statement read.

It also said that the recruitment process to identify a successor will be shortly underway and in the interim the bank’s communications will be seamlessly driven by an acting director general.

In the meantime, Canada has frozen all activity at the bank after the incident. “The government of Canada will immediately halt all government-led activity at the bank,” said Chrystia Freeland, Canada’s finance minister and deputy prime minister at a local press briefing. “The review I am announcing today is to be undertaken expeditiously,” she said. “And I am not ruling out any outcome following its completion.”

Back in May, the bank appointed Teresa Lin as external member of the Audit and Risk Committee (ARC) of the Board of Directors. Lin’s term follows the end of the three-year term of Ai Phing Cheng in April 2023. Elisabeth Stheeman continues to serve as external member to the ARC.

AIIB’s vice president and corporate secretary, Ludger Schuknecht, emphasised the importance of having external members on the Audit and Risk Committee, stating that their independent judgement offers invaluable insight into the effectiveness and robustness of the Bank's risk management and internal control systems.

With her extensive experience in financial and risk management, and internal controls, Lin is expected to provide exceptional support to the Board of Directors, maintaining a high standard of governance and a strong culture of accountability within the Bank.

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