MANILA - The Asian Development Bank announced on Monday the appointment of Dr. Jong-Wha Lee as the bank's new chief economist.

The veteran economist and academic is a Korean whose work portfolio includes stints in ivy league schools (Harvard University as Visiting Professor, and Korea University), multilateral banks (International Monetary Fund and World Bank), development agencies (United Nations Development Programme), government posts (member of the National Economic Advisory Council in Korea). He has also published books on human capital, growth, financial crisis, and economic integration.

When he joined ADB in 2007, he headed the Office of Regional Economic Integration. Since October 2008, he has been Acting Chief Economist in ADB's Economics and Research Department (ERD), which produces the annual Asian Development Outlook, ADB's flagship publication forecasting economic trends in the region.

In his new role, Lee will be ADB's chief spokesperson on economic forecasts and trends.

"Now more than ever Asia's evolving development landscape requires that the development community and policymakers receive the best independent, objective research and policy advice, precisely what ERD strives to provide," Lee said in a statement.