April, 2019
World Bank president David Malpass on company changes
Source: CNBC
David Malpass on Tuesday took office as the president of the World Bank Group, and said he looks forward to undertaking the task with enthusiasm.
Malpass made his debut as the 13th president of the World Bank at its headquarters in Washington D.C. Tuesday morning. “I want to thank the Board of Directors and the Governors for selecting me,” he told reporters. David Malpass, former undersecretary for international affairs at the U.S. Treasury Department, was chosen by U.S. President Donald Trump in early February as the U.S. candidate for the post, following the abrupt resignation of former World Bank chief Jim Yong Kim. Malpass, 63, has secured approval from the World Bank’s board after a campaign without competition.
The World Bank Group announced in a statement Friday that David Malpass was selected as its president for a five-year term beginning on April 9, 2019.”There is a clear mission for the bank: poverty alleviation and shared prosperity. These goals are urgent, and I think we need a clear focus on achieving outcomes,” he said.
Malpass also highlighted challenges such as climate change, women’s role in economic growth, and the need for stronger growth. “The bank has resources, it has staff, it has the ability to actually have an impact,” he said. Candidates picked by the United States, the World Bank’s largest shareholder with 16 percent of its voting power, have all ended up assuming the leadership post since the institution’s inception in 1944.Malpass, who once criticized the World Bank, has raised concerns within the international development community over his skepticism about the role of the bank and multilateralism.
Biography :
David Malpass speaks four languages, including Spanish, Russian and French.
David Malpass , earning a B.A. in physics at Colorado College and an MBA at the University of Denver, Malpass went on to study economics at Georgetown University’s School of Foreign Service.
He’s a licensed CPA.
From 1977 to 1983, he worked for Esco Corp. and Arthur Andersen.
For 15 years, Malpass worked at Bear Stearns in the firm’s research department, serving six of those years as the firm’s chief economist Opens a New Window. preceding its collapse.
Political Roots
During the presidencies of Ronald Reagan and George H.W. Bush, Malpass worked on an array of economic and foreign policy issues for those administrations, including small business promotion throughout Latin America and the 1986 tax cut.
Under Reagan and President George H.W. Bush, he served as deputy assistant secretary of state.
Malpass also has served as the Republican staff director of Congress’s Joint Economic Committee from 1989 to 1990.
World Bank president David Malpass on company changes
Source: CNBC
David Malpass on Tuesday took office as the president of the World Bank Group, and said he looks forward to undertaking the task with enthusiasm.
Malpass made his debut as the 13th president of the World Bank at its headquarters in Washington D.C. Tuesday morning. “I want to thank the Board of Directors and the Governors for selecting me,” he told reporters. David Malpass, former undersecretary for international affairs at the U.S. Treasury Department, was chosen by U.S. President Donald Trump in early February as the U.S. candidate for the post, following the abrupt resignation of former World Bank chief Jim Yong Kim. Malpass, 63, has secured approval from the World Bank’s board after a campaign without competition.
The World Bank Group announced in a statement Friday that David Malpass was selected as its president for a five-year term beginning on April 9, 2019.”There is a clear mission for the bank: poverty alleviation and shared prosperity. These goals are urgent, and I think we need a clear focus on achieving outcomes,” he said.
Malpass also highlighted challenges such as climate change, women’s role in economic growth, and the need for stronger growth. “The bank has resources, it has staff, it has the ability to actually have an impact,” he said. Candidates picked by the United States, the World Bank’s largest shareholder with 16 percent of its voting power, have all ended up assuming the leadership post since the institution’s inception in 1944.Malpass, who once criticized the World Bank, has raised concerns within the international development community over his skepticism about the role of the bank and multilateralism.
Biography :
David Malpass speaks four languages, including Spanish, Russian and French.
David Malpass , earning a B.A. in physics at Colorado College and an MBA at the University of Denver, Malpass went on to study economics at Georgetown University’s School of Foreign Service.
He’s a licensed CPA.
From 1977 to 1983, he worked for Esco Corp. and Arthur Andersen.
For 15 years, Malpass worked at Bear Stearns in the firm’s research department, serving six of those years as the firm’s chief economist Opens a New Window. preceding its collapse.
Political Roots
During the presidencies of Ronald Reagan and George H.W. Bush, Malpass worked on an array of economic and foreign policy issues for those administrations, including small business promotion throughout Latin America and the 1986 tax cut.
Under Reagan and President George H.W. Bush, he served as deputy assistant secretary of state.
Malpass also has served as the Republican staff director of Congress’s Joint Economic Committee from 1989 to 1990.
