Graeme Wheeler takes over recently departed Shengman Zhang's position as Acting Managing Director of the World Bank
12 December 2005
Former World Bank Treasurer and Vice President to chair Senior Management Search Committee and act as Managing Director following Shengman Zhang's exit.
Former Vice President and Treasurer of the World Bank, New Zealander Graeme Wheeler has been officially appointed to the position of Acting Managing Director. In the latest round of appointments in the wake of President Paul Wolfowitz's management reshuffling, Wheeler will temporarily fill the gap that was created when Shengman Zhang left his position shortly after the new President's arrival.
Before joining the World Bank in 1997, Wheeler was the Deputy Secretary to the New Zealand Treasury and also has experience as Treasurer of the New Zealand Debt Management Office.
In a letter to all World Bank staff, Wolfowitz also announced that Wheeler would chair a search committee dedicated to identifying, "candidates who can provide senior level management of operations and strategy for the World Bank." In addition to the committee, a private firm will assist in the selection process. Taking over Mr. Wheeler's position is the current Deputy Treasurer and Director Banking Capital Markets and Financing Engineering Department, Ken G. Lay.
Shengman Zhang is now the Vice Chairman, Global Banking, Citigroup Corporate and Investment Banking, and Chairman of the company's Public Sector Group of Citibank. He joins former World Bank President James Wolfensohn who is a senior advisor with Citigroup in New York City.
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