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Stabroek News

Potential Wolfowitz successors
published: Friday | May 25, 2007

WORLD BANK shareholder nations on Wednesday called for a more transparent process to select the next bank chief, but stopped short of picking a fight with the United States (U.S.) administration by demanding radical changes.

U.S. President George W. Bush made clear in an interview with Reuters this week he wants an American to replace Paul Wolfowitz, who resigned over an ethics scandal involving a promotion and hefty pay rise he authorised for his companion.

The White House has said it will move quickly to pick a successor.

Following are some names that have been circulating:

Robert Zoellick, former US trade representattive

As Bush's first trade represen-tative, Zoellick, 53, helped launch the Doha round of world trade talks. He later served as deputy secretary of state and became the administration's point person on China policy and Darfur.

Zoellick left government last year to join investment bank Goldman Sachs.

Robert Kimmitt, USdeputy treasury secretary


Kimmitt

Kimmitt, 59, is a former U.S. ambassador to Germany and speaks the language fluently. He was undersecretary of state for political affairs in President Bush's father's administration. Kimmitt was picked for the Treasury job in 2005.

Kimmitt has said he is 'flattered' that news reports have mentioned his name for the World Bank but said he was focusing on his Treasury job. A decorated Vietnam veteran, Kimmitt is a graduate of the West Point military academy.

Paul Volcker, former US Federal Reserve chairman

Volcker, 79, viewed as one of the most formidable figures in modern U.S. economic history, headed the Federal Reserve from 1979 to 1987 and is credited with breaking the back of double-digit U.S. inflation.

Volcker, who maintains a high profile in policy and foreign affairs circles, was tapped in 2004 to lead an investigation into the Iraqi Oil for Food programme.

Joshua Bolten, White House chief of staff


Bolten

Bolten, 52, would bring financial experience as a former senior executive at Goldman Sachs International and is viewed as a highly effective manager. Butit is unclear whether Bush would be wil-ling to let him leave the White House.

Stanley Fischer, governor, Bank of Israel

A naturalised American, Fischer, 63, was born in what is now Zambia. He served as first deputy managing director at the International Monetary Fund from 1994-2001 and as chief economist at the World Bank from 1988-1990. He later joined Citigroup and now heads the Bank of Israel.

Fischer is renowned for his knowledge of international finance but some Republicans associate his policy views with those of the Clinton administration.

Carlos Gutierrez, US commerce secretary


Gutierrez

When Bush tapped Gutierrez to become commerce secretary, he hailed him as a "great American success story." The Cuban-born Gutierrez, 53, started at break-fast cereal maker Kellogg Com-pany driving a delivery truck but rose through the ranks to become chief executive.

He has been a key player in the push to overhaul U.S. immigration laws.

- Reuters

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