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Ivanka Trump reportedly among candidates to replace World Bank’s outgoing Jim Yong Kim

FE Online


US President Donald Trump s eldest daughter and White House adviser Ivanka Trump is reportedly among the names being considered to replace the outgoing World Bank President Jim Yong Kim, the Financial Times reported.

Other candidates mentioned in the list submitted to the Treasury Department includes David Malpass, a current Treasury official, Nikki Haley, former UN ambassador, and Mark Green, head of the US Agency for International Development.

Ivanka Trump earlier worked as a Vice President for Acquisitions at the Trump Organization before joining the White House. She also had her own fashion brand, the Ivanka Trump brand, which was shut down in July last year.

Earlier this week, Kim announced his unexpected exit from the World Bank that comes three and a half years before the expiry of his tenure in 2022. He was first appointed by former US President Barack Obama in 2011 and got re-elected in 2016. Kim will leave the international financial institution by 1 February.

A spokeswoman for the Treasury Department confirmed the Financial Times that they have received “a significant number of recommendations for good candidates” and was “beginning the internal review process” to be taken up to the World Bank’s board.

World Bank’s board of executive directors met January 9 to discuss the selection process for its next President, it said in a statement.

“Candidates should have a proven track record of leadership, experience of managing large organizations with international exposure, and a familiarity with the public sector,” the statement by World Bank added.

Three candidates will be shortlisted by the executive directors followed by formal interviews. World Bank expects to have a new President its spring meetings this year.

The World Bank was founded in 1944 to five financial aid to countries that were highly impacted by the Second World War. Currently, the bank has 180 member nations that get funding and technical support.