World Bank president Jim Kim to step down, join infrastructure fund
The president of the World Bank, Jim Kim, on Monday announced he was stepping down from the global lending institution. Kristalina Georgieva, World Bank CEO, will assume the role of interim president effective February 1. Kim will join a firm he didn't identify and focus on increasing infrastructure investments in developing countries. Kim also be re-joining the board of Partners In Health, an organization he co-founded more than 30 years ago. The position of World Bank president is usually filled by an American, as the International Monetary Fund is usually run by a European. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.