Trump nominates Treasury's Malpass to lead World Bank
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 MarketWatch.com for more information on this news.