David Malpass facts for kids
Quick facts for kids
David Malpass
|
|
|---|---|
.jpg) |
|
| 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 expert on economics and a former government official. He was the President of the World Bank Group from 2019 to 2023. Before that, he worked for the U.S. government under Presidents Donald Trump, Ronald Reagan, and George H. W. Bush. He also worked as a top economist for a large financial company called Bear Stearns.
In 2024, Malpass became a special expert in international finance at Purdue University.
Contents
Early life and education
David Malpass was born in 1956 in Petoskey, Michigan.
He studied physics at Colorado College, earning his first degree in 1976. He then earned a master's degree in business from the University of Denver in 1978. In 1983, he studied international economics at Georgetown University.
Career
Early jobs
From 1976 to 1981, Malpass worked in different roles in Portland, Oregon. He managed contracts, advised on computer systems, and handled finances for companies.
As an economist
From 1984 to 1993, Malpass worked for the U.S. government. He helped with important economic plans, like tax cuts and trade agreements. He worked for the U.S. Treasury Department and the U.S. State Department.
From 1993 to 2008, he was a top economist at Bear Stearns. This was a big financial company. He was their main expert on international economics.
In 2008, after Bear Stearns faced problems during a big financial crisis, Malpass started his own economics company. He also ran for a political office in New York in 2010. He has written articles for well-known newspapers like Forbes and The Wall Street Journal. He also appears on TV to talk about the economy.
Advisor to President Trump
On August 5, 2016, David Malpass became a senior economic advisor to Donald Trump during his presidential campaign. He helped explain Trump's ideas for making the economy grow faster. After Trump won the election, Malpass helped with the changeover of government, focusing on economic policy.
Under Secretary of the Treasury
In March 2017, President Trump chose Malpass to be the Under Secretary of the Treasury for International Affairs. This role involves dealing with economic issues between the U.S. and other countries. The United States Senate approved him for this job in August 2017.
During his time in this role, Malpass often spoke about trade issues with China.
President of 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 helps countries around the world with money and advice. Its goal is to reduce poverty and support development.
Malpass was approved by the World Bank's board on April 5, 2019. He started his term on April 9. He focused on making sure countries were open about their debts.
During his time as president, Malpass worked to make the World Bank more effective. He helped the bank lend a lot more money to countries. This money helped countries deal with the COVID-19 pandemic, the Russian invasion of Ukraine, and rising food and energy prices. He also helped poorer countries manage their debts. He encouraged China to help developing nations with their debt problems.
Malpass also worked to increase the World Bank's efforts against climate change. The bank created a plan to put more money towards climate projects. This plan aimed to help countries adapt to climate change and switch to cleaner energy.
In September 2022, there was a discussion about his views on climate change. Malpass later clarified his position, stating he accepted the scientific understanding that human activity causes climate change. He said he was not someone who denied climate science.
In February 2023, Malpass announced he would step down as president of the World Bank in June 2023.
Other roles
In 2024, Malpass joined Purdue University as a special expert in international finance. He also holds a position focusing on global business and infrastructure.
He serves on the board of trustees for UBS Investment Trust. He has also been a member of the boards of several other important organizations.
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. She was the chairwoman of the Manhattan Republican Party. She later became the president of The Daily Caller News Foundation.
David Malpass can speak Spanish, Russian, and French.
See also
In Spanish: David Malpass para niños
