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Apr 05, 2019
Trump's choice for World Bank wins election

Trump's choice for World Bank wins election

David Malpass, the Treasury official nominated by President Donald Trump to head the World Bank, was elected to the job on Friday.

Malpass was approved unanimously by the bank's 25-member executive board on Friday. He will begin a five-year term  Jim Yong Kim, an Obama administration pick who stepped down earlier this year, three years before his term was to end.

Malpass was serving in the Trump administration as Treasury's under secretary of international affairs. He has been a longtime critics of the World Bank and its sister lending organization, the International Monetary Fund.

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Financial analyst and market blogger with expertise in equity research, fundamental analysis, and macroeconomic trends. I regularly publish coverage on individual stocks, ETFs, and sector developments — combining rigorous financial analysis with clear, engaging writing for a broad investment audience.

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The investment seeks to replicate, before fees and expenses, the total return of the S&P 500® Index. The fund will invest, under normal circumstances, at least 80% of its net assets and borrowings for investment purposes in securities of issuers included in the index. The index is designed to measure the performance of 500 U.S. companies chosen for market size, liquidity and industry grouping, among other factors. In some instances, one or more of the 500 companies may have more than one share class included in the index. The fund is non-diversified.
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Trump's choice for World Bank wins election