World Bank president appointed

World Bank president appointed

The White House has appointed James Wolfensohn, an experienced Wall Street investment banker, to be the next president of the World Bank. Apart from his extensive connections in the world of high finance, Mr Wolfensohn was favoured over other candidates because of his glittering record of charitable work, involvement in development groups, and successful chairmanship of Washington's Kennedy Center for the Performing Arts. The appointment is to be formally approved by the board of the World Bank.

Hamish McRae, page 26