Bush to tap Robert Zoellick to lead World Bank

05/29/2007

from AP Wire Reports
May 29, 2007

WASHINGTON — President Bush has chosen Robert Zoellick, a one-time U.S. trade representative and former No. 2 official at the State Department, to lead the World Bank, a senior administration official said Tuesday.
Bush will announce his decision on Wednesday.

Zoellick would succeed Paul Wolfowitz, who is stepping down June 30 after findings by a special bank panel that he broke bank rules when he arranged a hefty compensation package in 2005 for his girlfriend, Shaha Riza, a bank employee. The controversy led to calls from Europeans, the bank's staff, aid groups, Democratic politicians and others for Wolfowitz to step down.

Zoellick's selection has received positive reaction from other nations, and the White House expects him to be accepted by the World Bank executive board, the senior administration official said. The official spoke only on condition of anonymity because Bush had not announced the selection.

About Robert Zoellick

Robert B. Zoellick.

Age-Birth date: 53. July 25, 1953.

Education: B.A., Swarthmore College, 1975; Master of Public Policy and J.D., Harvard University, 1981.

Experience: Executive at Goldman Sachs 2006 to present; Deputy Secretary of State, Feb. 2005 to June 2006; U.S. Trade Representative 2001 to 2005; Fellow, at Washington think tank, German Marshall Fund, 1999-2001; chief executive officer-designate, Center for Strategic and International Studies in Washington, 1998-99; Olin professor of national security, U.S. Naval Academy, 1997-98; executive vice president, Fannie Mae, 1993-97; deputy chief of staff to President Bush, 1992-93; undersecretary of state, 1989-92; at Treasury Department in various positions including counselor to Secretary James A. Baker III, 1985-88; chief executive officer of board, Fannie Mae, 1983-85.

Family: Wife, Sherry.