Leslie Maasdorp, a South African financial executive with a distinguished career spanning both public service and international finance, currently serves as the Chief Executive Officer of British International Investment (BII), the United Kingdom’s development finance institution. His appointment to this role at the close of 2024 marks the continuation of a trajectory that has placed him at the intersection of finance, policy, and development across several continents.
BII, originally founded in 1948 as the Colonial Development Corporation, is the UK government’s principal vehicle for economic development investment in emerging markets. It deploys approximately £1 billion annually—equivalent to R23 billion—across Africa, Asia, and the Caribbean, with a strong emphasis on sustainable, inclusive growth and climate resilience. The institution currently maintains equity stakes and financial interests in over 1,600 companies spanning 65 countries, focusing on critical sectors such as infrastructure, financial services, healthcare, and technology, while integrating robust environmental, social, and governance (ESG) standards into its investment ethos.
Maasdorp’s ascendancy to the helm of BII is underscored by decades of high-level experience in both governmental and corporate spheres. His career commenced during South Africa’s transition to democracy, rooted in activism within the anti-apartheid trade union movement. He later served as a special advisor to the first democratic Minister of Labour, Tito Mboweni, and progressed to become the Deputy Director-General in the Department of Public Enterprises, where he was pivotal in the privatisation and restructuring of several state-owned enterprises—including the landmark listing of Telkom on the Johannesburg Stock Exchange.
An alumnus of the University of the Western Cape with a BA in Economics and Psychology, Maasdorp furthered his academic credentials with an MSc from the School of Oriental and African Studies (SOAS), University of London. His academic foundation was mirrored by his subsequent appointments in global finance, beginning in 2002 when he became the first African to serve as International Adviser to Goldman Sachs International. At Goldman, Maasdorp played a strategic role in shaping the firm’s approach to emerging markets, with a focus on Africa.
He went on to co-found Yard Investment Holdings, a private equity venture based in Sandton, and later held senior roles at Barclays Capital, Absa Capital, and Bank of America Merrill Lynch, where he served as President for Southern Africa. In each of these roles, Maasdorp was integral to developing institutional investment strategies that connected African markets to global capital.
In 2015, the South African government appointed him Vice President and Chief Financial Officer of the New Development Bank (NDB) in Shanghai, a multilateral bank established by the BRICS nations to fund infrastructure and development in emerging economies. Over two terms, Maasdorp led the NDB’s treasury, accounting, and portfolio management operations, helping the institution secure a strong credit rating and raising over $15 billion through various global and domestic bond programmes. He concluded his tenure with the NDB in July 2024.
His corporate boardroom experience spans several high-profile entities, including Absa Group, Telkom, Cell C, HCI, and Johnnic. Notably, in 2022, Maasdorp was appointed to the Binance Global Advisory Board, providing strategic guidance to the world’s largest cryptocurrency exchange.
Maasdorp’s recent appointment as CEO of British International Investment was welcomed by BII Chair Diana Layfield, who highlighted his lived experience in the Global South and his alignment with the values and objectives of the institution. In a statement, Layfield described him as a “passionate and visionary leader” whose deep understanding of development finance would be instrumental in addressing “the environmental, economic, and social needs of our markets.”
Speaking on his return to London, Maasdorp reaffirmed his belief in the catalytic role development finance plays in transforming emerging economies. “The private sector is the principal engine of economic growth and prosperity,” he noted. “BII plays a vital role in supporting economies to grow, create jobs, and raise living standards in Africa, Asia, and beyond.”
BII’s strategic investment direction aligns closely with the UK government’s commitment to supporting global climate goals and sustainable development, particularly in the Global South. Under Maasdorp’s leadership, the institution is expected to deepen its impact-oriented investment model, leveraging capital to stimulate inclusive economic systems while mitigating climate vulnerabilities.
Maasdorp’s appointment is emblematic of South Africa’s growing imprint on global leadership platforms. It also underscores the increasing recognition of leaders with nuanced experience in both developed and developing markets. His stewardship of BII is anticipated to not only reinforce UK-Africa investment ties but also spotlight Africa’s capacity to provide leadership on the world stage in matters of economic development and sustainability.
