Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Kim Says World Bank Staff Shakeup to Refocus on Poverty Goal

Don't Miss Out —
Follow us on:
World Bank President Jim Yong Kim
Jim Yong Kim, president of the World Bank Group, has pledged to refocus the bank, with a dual goal of ending extreme poverty by 2030 and lifting income of the 40 percent poorest. Photographer: Andrew Harrer/Bloomberg

July 30 (Bloomberg) -- World Bank President Jim Yong Kim said two senior executives will leave and others will get new responsibilities, part of a management shakeup 13 months after he took over the institution as he prepares a new global poverty-reduction strategy.

Caroline Anstey, a managing director who worked for 18 years at the Washington-based bank, will step down after the member countries’ annual meetings in October, Kim said in an e-mail to staff obtained by Bloomberg. Pamela Cox, a veteran of 33 years who most recently was senior vice president for change management, will retire at the same time, he said.

“Kim is clearly signaling that he plans to engineer a significant transformation in the bank’s orientation and operating procedures, starting with a revamp of top management,” said Eswar Prasad, a former International Monetary Fund official who teaches economics at Cornell University in Ithaca, New York.

Anstey was a close aide of Kim’s predecessor, Robert Zoellick, who made her his chief of staff and later appointed her vice president and then managing director.

Kim has pledged to refocus the bank, with a dual goal of ending extreme poverty by 2030 and lifting income of the 40 percent poorest. Today’s announcements follow another memo to staff last week, in which Kim outlined steps to change the culture at the bank, make staff less risk-averse and improve the delivery of aid.

World Bank spokesman David Theis confirmed that an e-mail on personnel changes had been sent to staff.

Town-Hall Meeting

A town-hall meeting will be held in September for employees to ask questions, Kim said. He said a draft report of his strategy will be released “in coming weeks.”

Kim said in an interview last month that he would present the strategy to the bank’s shareholders in October.

Managing Director Sri Mulyani Indrawati, a former finance minister of Indonesia, will also become chief operating officer, Kim said today. The heads of human resources and external relations will report to Kim directly, he said.

“As we move from design to implementation, a realignment of responsibilities among senior management is needed to take forward the next phase of our change program,” Kim wrote in the memo. “We have made some important decisions, and with today’s announcement, we have the leadership team that will deliver the results we need.”

To contact the reporter on this story: Sandrine Rastello in Washington at srastello@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.