While Wolfowitz has barely resigned as president of the World Bank, the Financial Times is already speculating about his successor. A quick look at the possible nominations makes clear that World Bank is first and foremost a Bank.
The first name the FT mentions is Robert M. Kimmitt, the US deputy Treasury secretary. Kimmitts bio reveals that his experience in the developing world is limited to his military service in Vietnam in 1970-1971. He served in the 173rd Airborne Brigade, earning three Bronze Star Medals, the Purple Heart, the Air Medal, and the Vietnamese Cross of Gallantry. More recently, he has served as the US Ambassador to Germany in the early 1990s, the country where he also attended high school in the 1960s.
Other possible candidates mentioned by the FT are (1) Paul Volcker, former US Federal Reserve Chairman; (2) Robert Zoellick, former US Deputy Secretary of State and current Vice President International for Goldman Sachs and involved in the neocon Project for the New American Century and (3) Hank Paulson, current US Secretary of the Treasury, former CEO of Goldman Sachs and a 2004 Bush Pioneer.
We’ll probably hear more about this before Wolfowitz steps down on June 30th… And then they can finally get back to work.