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David Malpass ’76 Selected as New Head of World Bank

David Malpass ’76 was named the new president of the World Bank on April 5 following a unanimous vote of the bank’s board of executive directors in Washington, D.C. He will take office on April 9.

Malpass was nominated by President Donald Trump in early February. He has worked for three presidential administrations, most recently serving as the U.S. Treasury Department’s undersecretary for international affairs, having been confirmed for the position by the U.S. Senate in August 2017. He replaces Jim Yong Kim as the head of the World Bank.

He previously served as deputy assistant treasury secretary under President Ronald Reagan and deputy assistant secretary of state under President George H. W. Bush, including six years with Secretary James Baker at the State and Treasury Departments. During the Reagan and Bush presidencies, 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 writes a column for Forbes magazine, is a contributor to the op-ed section of The Wall Street Journal, and a frequent television commentator.

Malpass graduated from CC with a degree in physics and received an honorary degree from the college at CC’s Opening Convocation in 2007. He gave the H. Chase Stone Lecture, titled “Economic Debates from Wall Street to Washington,” in 2003 and donated part of his honorarium back to the college. He received an MBA from the University of Denver in 1978, and studied international economics at Georgetown University’s School of Foreign Service. 

Photo credit: World Bank / Franz Mahr