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Wednesday, May 30, 2007
Bush names Zoellick for World Bank

Former U.S. Trade Representative Robert Zoellick has been selected to replace World Bank President Paul Wolfowitz.

WASHINGTON (CNN) -- U.S. President George W. Bush said Wednesday he will nominate Robert Zoellick to be the 11th president of the World Bank, replacing Paul Wolfowitz, who was forced to step down.

"He's deeply devoted to the mission of the World Bank; he wants to help struggling nations defeat poverty," Bush told reporters at the White House.

Currently serving as a vice chairman at Goldman Sachs, Zoellick's resume includes a long list of government jobs -- deputy secretary of state in 2005, U.S. trade representative from 2001 to 2005, and under secretary of state for economic and agricultural affairs during the administration of the elder President Bush, where he managed 57,000 people.

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