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September 5, 2008 12:37:54 PM CDT

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Former Trade Rep to Head World Bank

Posted May 29, 07 5:30 PM CDT in World,  US 

(Newser) – President Bush will tap former US trade representative Robert Zoellick as the new World Bank prez, sources close to administration said this afternoon. Zoellick, who has spent over 20 years in government, served as deputy secretary of state and the country's top trade official until last year, when he joined Goldman Sachs.

Zoellick is thought to be a compromise choice, popular with World Bank critics as well as the finance and development establishment. And his Goldman connections helped his case, the Times reports. Treasury Secretary Henry Paulson, who spearheaded the search, is a former Goldman CEO. Zoellick will replace embattled neocon Paul Wolfowitz, who agreed to resign May 17.

Source New York Times

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Then-Deputy Secretary of State Robert Zoellick announces his resignation at the State Department in Washington, in this June 19, 2006 file photo. A senior administration official says President Bush...   (Associated Press)
Then-Deputy Secretary of State Robert Zoellick announces his resignation at the State Department in Washington, in this June 19, 2006 file photo. A senior administration official says President Bush...   (Associated Press)
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business  • Henry Paulson  • Goldman Sachs  • resignation  • World Bank  • Paul Wolfowitz  • Robert Zoellick


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