DALLAS -- A manager and deputy manager for the new North American Development Bank could be announced as early as mid-October and about 10 staff members could be hired for the U.S.-Mexican bilateral financial institution by the end of the year, a federal Treasury official said yesterday.

"Both sides would like to hire a manager as soon as possible," said Mozelle Thompson, deputy assistant secretary for government financial policy at the U.S. Treasury, the lead agency in the bank's development. "Once we get a manager in place the rest should fall in line fairly quickly."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.