Mr. Hansen will be based in Nairobi, Kenya.He succeeds Carlos Felipe Jaramillo who was appointed as the Vice President for Latin America and the Caribbean region.

Mainland Chinese stocks led losses among the region’s major markets on the day, with the Shanghai composite down 1.87% to about 3,292.59 while the Shenzhen component dropped 2.729%

Chilean stocks, as measured by the IPSA Index, posted modest losses for the week as of Friday afternoon.

The recent stability in the global markets also provided the much needed market confidence in boosting market liquidity relatively, with a rise on the major global indices in the U.S, Europe & Asia.

On U.S. exchanges 11.31 billion shares changed hands compared with the 9.29 billion average tor the last 20 sessions.