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The president of the World Bank Group is the head of World Bank Group. The president is responsible for chairing the meetings of the boards of directors and for overall management of the World Bank Group. The nominee is subject to confirmation by the Board of Executive Directors, to serve for a five-year, renewable term.
Each director represents either one country (for the largest countries), or a group of countries. Executive directors are appointed by their respective governments or the constituencies. [17] The agencies of the World Bank are each governed by their Articles of Agreement that serves as the legal and institutional foundation for all their work. [17]
The boards of directors consist of the World Bank Group president and 25 executive directors. The president is the presiding officer, and ordinarily has no vote except to break a tie. The executive directors as individuals cannot exercise any power or commit or represent the bank unless the boards specifically authorized them to do so.
Managing directors, the bank's highest rank below the C-suite, are the people who will be tasked with helping bring Fraser's vision for the bank's future to life and navigating complex headwinds ...
The IMF is led by a managing director, who is head of the staff and serves as chairman of the executive board. The managing director is the most powerful position at the IMF. [97] Historically, the IMF's managing director has been a European citizen and the president of the World Bank has been an American citizen. However, this standard is ...
No member of the Board of Governors of the Federal Reserve System shall be an officer or director of any bank, banking institution, trust company, or Federal Reserve bank or hold stock in any bank, banking institution, or trust company; and before entering upon his duties as a member of the Board of Governors of the Federal Reserve System he ...
Bank of America logo is seen on the entrance to a Bank of America financial center in New York (Reuters) - Bank of America has promoted 387 employees to managing director roles in 2024, 16% more ...
Director – a person appointed to serve on the board of an organization, such as an institution or business. Inside director – a director who, in addition to serving on the board, has a meaningful connection to the organization; Outside director – a director who, other than serving on the board, has no meaningful connections to the ...