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.