DUBLIN – January 22, 2019 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today the promotion of Patrick C. Hannigan, who has served as the company’s Chief Commercial Officer since January 2017, to the position of President, as part of the continued strategy to further strengthen executive management for the next phase of development.

Peter Chang, CDB Aviation Chief Executive Officer, commented: ”Pat and I have been working closely together since he joined our top-calibre team in 2017 to drive the next stage of expansion and growth, focusing on building our company’s aircraft portfolio, expanding our customer base, and imbuing the team with an execution-driven culture of competency. His vision, tenacity, and execution prowess have been instrumental to our successful track record.”

In addition to providing strategic leadership for the company as President, working with the CEO, the Board and other management to establish long-range goals and strategies, Hannigan will continue to lead the company’s commercial operations as Chief Commercial Officer.

“I’m honoured with the trust Peter and the Board have placed in me through this expanded leadership role,” said CDB Aviation President & Chief Commercial Officer Patrick C. Hannigan. “The pillars of our long-term strategy – expanding the scale and global reach of our platform, leveraging our unique financial strength backed by unrivalled resources of China Development Bank to benefit our airline customers globally, and attracting and retaining a team of top-tier professionals second to none – will always guide everything we do. I’m thrilled to continue partnering with Peter and our exceptional global CDB Aviation team, as we advance our aviation leasing business, offering airline customers in all markets the most comprehensive leasing services they need to meet the increasing demand for air travel.”

Hannigan is an accomplished executive with three decades of experience in finance, marketing, sales, and P&L oversight. Prior to CDB Aviation, he was Head of EMEA for Avolon, where he led the EMEA origination team, coordinating placement and remarketing of aircraft within the region. He also was a founding shareholder of Avolon in 2010. Previously, Hannigan served as Senior Vice President, Marketing, for RBS Aviation Capital (now SMBC), where he was responsible for managing airline relationships within the EMEA region and aircraft and engine manufacturer relationships. He also held the role of Vice President Marketing at GE Capital Aviation Services, where he managed the pricing and marketing support function, as well as led the development of the company’s operations in the Middle East and Africa. During his career, Hannigan also held executive positions in business development, audit, and corporate finance with Diageo and Deloitte and Touche. He is a fellow of the Institute of Chartered Accountants Ireland.

Chang concluded: “Pat will lead our teams with this broader role focusing on corporate and strategic issues, which are critical to our efforts to advance our global aviation leasing business and will help us innovate and strengthen relationships with key business partners.”