President Donald Trump of the United States of America (USA), will this week, nominate Senior Treasury Official, David Malpass, to lead the World Bank. This is according to two administration officials.
The announcement will be made after Trump delivers his State of the Union address on Tuesday night. The administration, according to one of the officials, has started reaching out to World Bank member countries to rally support for Malpass’s nomination.
David Malpass’ profile
Malpass is an American economist who currently serves as Under Secretary of the Treasury for International Affairs.
He previously served as Deputy Assistant Treasury Secretary under President Ronald Reagan; Deputy Assistant Secretary of State under President George H. W. Bush, and Chief Economist at Bear Stearns for the six years preceding its collapse.
During the 2016 U.S. presidential election, Malpass served as an economic advisor to Donald Trump, and in 2017, he was nominated and confirmed as the undersecretary for international affairs in the United States Department of the Treasury.
Malpass earned a B.A. in physics at Colorado College and an MBA at the University of Denver. He studied international economics at Georgetown University’s School of Foreign Service. He speaks Spanish, Russian, and French.
From 1977 to 1983, he worked in Portland, Oregon for Esco Corporation and Arthur Andersen’s systems consulting group, where he became a licensed CPA.
During the presidencies of Ronald Reagan and George H. W. Bush, Malpass worked on an array of economic, budget, and foreign policy issues including small business promotion throughout Latin America and the 1986 tax cut.
Malpass served as the Republican staff director of Congress’s Joint Economic Committee from 1989 to 1990, and as a member of Congress’s blue-ribbon panel on budget scoring from 2002 to 2003.
In June 2008, Malpass founded Encima Global, a New York City firm, providing daily analysis of global economic and political trends relevant to institutional investors.
Malpass sits on the boards of UBS Funds, the New Mountain Financial Corporation, and the Gary Klinsky Children’s Centre. He is also a former director of the National Committee on United States-China Relations, the Council of the Americas, and the Economic Club of New York, and a former member of the board of trustees of the Manhattan Institute.
What you should know about the World Bank’s Presidency
The President of the World Bank is ex officio chair of the Board of the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The President is also ex officio chair of the Board of Directors of the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the Administrative Council of the International Centre for Settlement of Investment Disputes (ICSID).
