Trump Loyalist to Head World Bank – Report

President expected to nominate Treasury official David Malpass

Image Credits: ERIC BARADAT/AFP/Getty Images.

The Trump administration has notified World Bank shareholders that President Donald Trump intends to pick senior Treasury Department official David Malpass as the U.S. nominee to lead the development lender, people familiar with the decision told CNBC and Reuters on Monday.

The nomination of Malpass would put a Trump loyalist and a skeptic of multilateral institutions in line to lead the world’s largest development lender. Politico, which first reported the decision, said it would be announced on Wednesday, citing unidentified administration officials.

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A White House spokeswoman declined comment to Reuters, and a spokesman for the U.S. Treasury did not respond to queries about the decision.

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