World Bank hopes to select new chief by May

The World Bank said Wednesday it hopes to find a successor by early May to chief David Malpass, who has announced he will step down nearly a year early.

The Washington-based development lender will begin accepting candidate nominations on Thursday, a process that will run until March 29. The bank says women candidates would be “strongly” encouraged.

A shortlist of three candidates will then be issued, followed by “formal interviews... with the expectation of selecting the new president by early

May 2023.”

By informal agreement, not cited in the statement, the president of the World Bank is typically an American, while the head of the International Monetary Fund is customarily

a European.

The 66-year-old Malpass, was appointed in 2019 when Donald Trump was president after previously serving as Under Secretary of the Treasury for international affairs.