That's the name Trump wanted: Who is the 13th President of the World Bank David Malpass?
Malpass, who held important positions in the US Treasury Department, was known for his criticism of the World Bank before taking office. So, was he able to transform the bank he criticized?
Jim Yong Kim, who has been president of the World Bank since 2012, announced his unexpected resignation in January 2019. It has become a "tradition" to appoint a European president to the IMF and an American president to the World Bank. The then US President Trump recommended David Malpass, the US Under-Secretary of the Treasury for International Affairs. When the proposal was approved by countries on the World Bank Board, David Malpass became president and took over the office on April 9, 2022.
Malpass, who held important positions in the Treasury Department during the reigns of George W. Bush and Ronald Reagan, was known for his criticisms of the World Bank.
While Malpass was also the chief economist at the investment bank Bear Stearns, which went bankrupt in the 2008 crisis, he accused the Washington-based World Bank administration of corruption and mismanagement of the bank.
It was stated that Malpass, who is known to have good relations with the conservatives and Trump, recently assumed important roles in the ongoing tense trade negotiations with China.
In the news in the American media at that time, it was claimed that Malpass was recommended to Trump by US Treasury Secretary Steven Mnuchin and his daughter Ivanka Trump.
Who is David Malpass?
- 13th President of the World Bank.
- Date of Birth: March 8, 1956
- Birthplace: Petoskey, Michigan, USA
Born March 8, 1956, David Malpass is an American economic analyst. Malpass was elected President of the World Bank on February 4, 2019. His 5-year term officially started on April 9, 2019.
Malpass previously served as the Treasury Secretary for International Affairs in the United States. Malpass has also represented the United States in many international organizations. Some of those; are G7 and G20 summits, the World Bank and IMF (International Monetary Fund), and Organization for Economic Cooperation and Development meetings.
EDUCATION
After completing his undergraduate degree in physics from Colorado College, Malpass earned an MBA from the University of Denver. He studied international economics at Georgetown University's School of Foreign Service.
CAREER
From 1977 to 1983, he worked in the systems consulting group of Esco Corporation and Arthur Andersen in Portland, Oregon.
Prior to joining the U.S. Treasury, he was an international economist and the founder of a macroeconomic research firm based in New York. He was chief economist at Bear Stearns from 1993 to 2008.
In March 2017, the White House announced that Malpass would be President Trump's nominee for Secretary of the Treasury for International Affairs. Malpass was accepted to this post by the United States Senate on August 3, 2017.
Malpass has served as Assistant Secretary of State for Latin American Economic Affairs, Senior Analyst for Tax and Commerce on the US Senate Budget Committee, and Director of Staff on the Joint Economic Committee of the US Congress.
PERSONAL LIFE
Malpass and his wife, Adele Malpass, a journalist, live in Washington. They have four children.