David Malpass facts for kids
Quick facts for kids
David Malpass
|
|
|---|---|
.jpg)
Malpass in 2019
|
|
| 13th President of the World Bank Group | |
| In office April 9, 2019 – June 1, 2023 |
|
| Chief Executive | Kristalina Georgieva Anshula Kant |
| Preceded by | Kristalina Georgieva (acting) |
| Succeeded by | Ajay Banga |
| Under Secretary of the Treasury for International Affairs | |
| In office September 25, 2017 – April 9, 2019 |
|
| President | Donald Trump |
| Preceded by | D. Nathan Sheets |
| Succeeded by | Brent McIntosh |
| Personal details | |
| Born | March 8, 1956 Petoskey, Michigan, U.S |
| Political party | Republican |
| Spouse | Adele Obermayer |
| Children | 4 |
| Relatives | Herman Obermayer (father-in-law) |
| Education | Colorado College (BA) University of Denver (MBA) |
David Robert Malpass (born March 8, 1956) is an American economic expert. He was the President of the World Bank Group from 2019 to 2023. Before that, he worked for the U.S. government as an economic advisor. He also served as the Under Secretary of the Treasury for International Affairs under President Donald Trump.
As of 2025, Malpass is a special fellow at the Daniels School of Business at Purdue University.
Contents
Early Life and Education
David Malpass was born in 1956 in Petoskey, Michigan.
He studied physics at Colorado College and earned his bachelor's degree in 1976. He then got his master's degree in business from the University of Denver in 1978. In 1983, he studied international economics at Georgetown University.
Career Highlights
Early Work
From 1976 to 1981, Malpass worked in different roles in Portland, Oregon. He was a contract administrator, a computer systems consultant, and a financial controller.
As an Economist
From 1984 to 1993, Malpass worked in the U.S. government under Presidents Ronald Reagan and George H. W. Bush. He helped with important economic topics like tax cuts and international trade agreements. He worked at the U.S. Treasury Department and the U.S. State Department.
Later, he became a top economist at Bear Stearns, a large financial company. He was their chief international economist from 1993 to 2002. From 2002 until the company closed in 2008, he was their chief economist.
After Bear Stearns closed, Malpass started his own economics company called Encima Global in 2008. He also wrote articles for Forbes and The Wall Street Journal. He often appeared on TV to talk about economic issues.
Advisor to Donald Trump
In August 2016, David Malpass became a senior economic advisor for Donald Trump's presidential campaign. He supported Trump's ideas for faster economic growth. After Trump was elected, Malpass helped with the economic policy for the new government.
Under Secretary of the Treasury
In March 2017, President Trump chose Malpass to be the Under Secretary of the Treasury for International Affairs. The United States Senate approved him for this job in August 2017. In this role, he focused on how the U.S. economy connected with other countries. He also had strong views on trade with China.
Leading the World Bank
In February 2019, President Trump nominated Malpass to be the President of the World Bank Group. The World Bank is an international organization that gives money and advice to countries to help them develop and reduce poverty. Malpass was approved by the World Bank's board and started his term on April 9, 2019.
During his time as president, Malpass focused on helping countries deal with their debt. He also worked to make the World Bank more efficient. He greatly increased the bank's lending to help countries with challenges like the COVID-19 pandemic and rising food prices. He also doubled the bank's funding for projects related to climate change.
In 2021, the World Bank released a plan to increase its efforts against climate change. This plan aimed to make sure the bank's projects supported climate goals.
In September 2022, there was a discussion about Malpass's views on climate change. He later clarified that he accepted the scientific understanding that human actions cause climate change.
In February 2023, Malpass announced that he would leave his role as president of the World Bank in June 2023.
Other Roles
In 2024, David Malpass joined Purdue University as a Distinguished Fellow of International Finance. He also serves on the board of trustees for UBS Investment Trust.
Personal Life
David Malpass and his wife, Adele, live in Washington, D.C. They have four children. Adele Malpass has also been involved in politics and media.
Malpass can speak Spanish, Russian, and French.
See also
In Spanish: David Malpass para niños
