Zoellick Named World Bank President

Robert Zoellick of Goldman Sachs Group was the executive director’s unanimous choice as president of the World Bank in Washington, the board said Monday.

Zoellick, who succeeds Paul Wolfowitz, assumes his duties Sunday as the bank’s 11th president.

Bob Zoellick is a dynamic leader who is deeply committed to the mission of the World Bank in helping struggling nations to defeat poverty, grow their economies, strengthen transparency and accountability in governance, and offer their people the prospect of a better life, U.S. President George Bush said in a statement. The United States looks forward to continuing our close partnership with the World Bank to achieve these shared goals.

Zoellick will be the ex officio president of the International Development Association and chairman of the board of the International Finance Corporation, the Multilateral Investment Guarantee Agency and the Administrative Council of the International Centre of Investment Disputes.

Zoellick is vice chairman-international of Goldman Sachs Group and a managing director and chairman of Goldman Sach’s Board of International Advisors. He was deputy secretary of state, U.S. trade representative and held other positions in Treasury and State departments.