White House considering former PepsiCo CEO, Treasury official to lead World Bank

Candidates to head the World Bank include (from left) Overseas Private Investment Corp CEO Ray Washburne, former PepsiCo CEO Indra Nooyi, and Treasury Department official David Malpass.
Candidates to head the World Bank include (from left) Overseas Private Investment Corp CEO Ray Washburne, former PepsiCo CEO Indra Nooyi, and Treasury Department official David Malpass.PHOTOS: REUTERS

WASHINGTON (REUTERS) - The White House is considering former PepsiCo chief executive Indra Nooyi, Treasury Department official David Malpass and Overseas Private Investment Corp CEO Ray Washburne among candidates to head the World Bank, an administration official said on Tuesday (Jan 15).

The trio of names surfaced a day after officials said President Donald Trump's daughter Ivanka Trump was helping to lead the search for a new World Bank president to succeed Mr Jim Yong Kim, who is stepping down on Feb 1.

Ms Nooyi, who stepped down from her Pepsi position in October; Mr Malpass, who is undersecretary of Treasury for international affairs; and Mr Washburne, who has been the OPIC CEO since August 2017, are among several candidates being looked at to head the World Bank, the official said.

The United States, which has a controlling voting interest in the World Bank, has traditionally chosen the institution's leader since it began operations in 1946.

Mr Kim announced his surprise Feb 1 departure earlier this month to join private equity fund Global Infrastructure Partners, more than three years before his term ends in 2022, amid differences with the Trump administration over climate change and the need for more development resources.