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President of the World Bank Group

Head of the World Bank Group

Summary

Head of the World Bank Group

FieldValue
postPresident
bodyWorld Bank Group
insigniaWorld Bank Group logo.svgclass=skin-invert
imageAjay Banga.jpg
incumbentAjay Banga
incumbentsinceJune 2, 2023
termlengthFive years, renewable
website

The president of the World Bank Group is the head of World Bank Group. The president is responsible for chairing the meetings of the boards of directors and for overall management of the World Bank Group.

The nominee is subject to confirmation by the Board of Executive Directors, to serve for a five-year, renewable term. Traditionally, the World Bank Group president has always been an American citizen nominated by the United States, the Bank's largest shareholder, and the IMF's managing director has been a European citizen. While most World Bank Group presidents have had economic experience, some have not.{{Cite web |url=https://www.theguardian.com/commentisfree/cifamerica/2012/mar/23/jim-yong-kim-world-bank-president |title=Why Jim Yong Kim would make a great World Bank president |last=Hurlburt |first=Heather |date=March 23, 2012 |website=The Guardian |archive-url=https://web.archive.org/web/20221021034530/https://www.theguardian.com/commentisfree/cifamerica/2012/mar/23/jim-yong-kim-world-bank-president |archive-date=October 21, 2022 |url-status=live |access-date=March 24, 2012}}

The fourteenth and current World Bank Group president is Ajay Banga, who was selected on May 3 and began his term on June 2, 2023.

List of World Bank Group presidents

; Status

#PortraitNameTermNationalityBackgroundNotesReferences:
1[[File:EugeneMeyer.jpg80px]]June 18, 1946 – December 18, 1946United StatesInvestor and publisher of The Washington Post;
Chairman of the U.S. Federal ReserveFirst World Bank Group president
2[[File:John J. McCloy - Project Gutenberg etext 20587.jpg80px]]March 17, 1947 – June 30, 1949United StatesU.S. Assistant Secretary of War during World War IIFirst World Bank Group president with military background
3[[File:Eugene R Black.jpg80px]]July 1, 1949 – December 31, 1962United StatesBank executive with Chase Manhattan Bank;
Executive Director of the World Bank
4[[File:No image.svg80px]]January 1, 1963 – March 31, 1968United StatesInvestment banker and bank executive with First Boston Corporation
5[[File:Robert McNamara official portrait.jpg80px]]April 1, 1968 – June 30, 1981United StatesBusiness executive with Ford Motor Company;
U.S. Secretary of Defense in both the John F. Kennedy administration and Lyndon B. Johnson administration
6[[File:No image.svg80px]]July 1, 1981 – June 30, 1986United StatesPresident and CEO with Bank of America
7[[File:Barber Conable.jpg80px]]July 1, 1986 – August 31, 1991United StatesU.S. Representative from New YorkFirst World Bank Group president without business background
8[[File:No image.svg80px]]September 1, 1991 – May 4, 1995United StatesBank executive with J.P. Morgan & Co.First Word Bank Group president to die in office
Preston had been on medical leave from his position since February 1995 and had intended to formally retire from the Bank at the end of May of the same year. Ernest Stern was appointed interim World Bank Group president in his absence.
–[[File:No image.svg80px]]
Acting
February 1, 1995 – May 31, 1995United StatesManaging Director of the World Bank;
Assistant Administrator of the U.S. Agency for International Development (USAID)First interim World Bank Group president born outside United States
First World Bank Group president born in Europe
First World Bank Group president from Germany
9[[File:James D. Wolfensohn 2003.jpg80px]]June 1, 1995 – May 31, 2005United StatesCorporate lawyer and investment bankerFirst permanent World Bank Group president born outside United States
First World Bank Group president born in Oceania
First World Bank Group president from Australia
10[[File:Paul Wolfowitz.jpg80px]]June 1, 2005 – June 30, 2007United StatesU.S. Deputy Secretary of Defense in the George W. Bush administration
11[[File:Zoellick, Robert (official portrait 2008).jpg80px]]July 1, 2007 – June 30, 2012United StatesBank executive with Goldman Sachs;
U.S. Deputy Secretary of State and U.S. Trade Representative in the George W. Bush administration
12[[File:Jim Yong Kim (cropped).jpg80px]]July 1, 2012 – February 1, 2019United StatesPhysician, anthropologist and co-founder of Partners in Health;
President of Dartmouth CollegeFirst person of color to serve as World Bank Group president
First World Bank Group president born in Asia
First World Bank Group president from South Korea
–[[File:Kristalina Georgieva Headshot (cropped).jpg80px]]
Acting
February 1, 2019 – April 8, 2019BulgariaCEO of the World Bank;
Vice-President of the European Commission and European Commissioner for Budget and Human Resources in the Juncker Commission,
European Commissioner for International Cooperation, Humanitarian Aid and Crisis Response in the Barroso CommissionFirst woman to serve as interim World Bank Group president
First World Bank Group president from European Union, from former Eastern Bloc, and from Bulgaria
13[[File:David Malpass, World Bank Group President (cropped).jpg80px]]April 9, 2019–June 1, 2023United StatesChief Economist at Bear Stearns;
U.S. Under Secretary of the Treasury for International Affairs in the Donald Trump administration
14[[File:Ajay Banga.jpg80px]]June 2, 2023–presentUnited StatesVice Chairman at General Atlantic; President and CEO of MastercardFirst World Bank Group president born in South Asia
First World Bank Group president from India

References

Notes

References

  1. Weiss, Martin A.. (February 8, 2019). "Selecting the World Bank President". Congressional Research Service.
  2. . (May 3, 2023). ["Ajay Banga Selected 14th President of the World Bank"](https://www.worldbank.org/en/news/press-release/2023/05/03/ajay-banga-selected-14th-president-of-the-world-bank). *World Bank Group*.
  3. Briscoe, David. (May 6, 1995). "World Bank President Lewis Preston Dies".
  4. Lewis, Paul. (February 13, 1995). "A Tight Race to Head the World Bank". The New York Times.
  5. Wolf, Martin. (June 27, 2019). "Ernest Stern, economist, 1933-2019". Financial Times.
  6. . (October 9, 2010). ["James Wolfensohn: banker to the world"](https://www.smh.com.au/business/james-wolfensohn-banker-to-the-world-20101008-16c2r.html). *[[The Sydney Morning Herald]]*.
  7. . (January 7, 2019). ["World Bank Group President Kim to Step Down February 1"](https://www.worldbank.org/en/news/press-release/2019/01/07/world-bank-group-president-kim-to-step-down-february-1). *World Bank Group*.
  8. "Past Presidents". World Bank Group Archives, World Bank Group.
Wikipedia Source

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