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President Donald Trump said Wednesday he's nominating David Malpass to head the World Bank. Malpass currently serves as U.S. Treasury undersecretary for international affairs and has been a critic of the bank and its lending to China. "David has been a strong advocate for accountability at the World Bank for a long time," Trump said at the White House. An American traditionally heads the World Bank and the decision on a new president is up to its board of executive directors. Malpass would replace Jim Yong Kim, who announced his resignation last month. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.