Ganhuyag Chuluun

Executive Chairman
Ard Financial Group

Gan started his career at the end Mongolian Stock Exchange in 1991 and joined the Central Bank after graduating from Budapest’s Corvinus University in 1997. He joined UNDP’s MicroStart Pilot Project in 1998 and led its transformation into Mongolia’s first non-bank microfinance company, X.A.C. or Golden Fund for Development in 1999. Later it evolved into XacBank, the country’s leading commercial bank with social and development mandate. He managed XacBank and its parent, TenGer Financial Group until 2010. During his tenure he founded XacLeasing, XacSecurity, TenGer Solutions, XAC NGO, etc. TenGer acquired TenGer Insurance and started expanding in the region – MolBulak Finance in Kyrgyzstan and TianRong in China. In 2010, Ganhuyag was appointed as Vice-Minister of Finance of Mongolia and served until 2012. Gan served as Honorary Consul of Hungary, member of the Board of the Microfinance Centre for CEE and NIS, President of the CEO Club of Mongolia, Advisor to the Prime Minister of Mongolia on Economy and Development, member of the Global Agenda Council on Social Entrepreneurship of Schwab Foundation, Secretary General of the Mongolia Economic Forum, President of the Mongolian Basketball Association, and President of Mongolian Students’ Union. He was a pioneer of financial cooperative movement in the 1990s. In 2009, he was nominated to the Forum of Young Global Leaders of the World Economic Forum, and was asked to help found the UB Global Shapers Hub by the WEF. He led the YGL Global Dignity Initiative in Mongolia since 2009.