Köhler names new First Deputy Managing Director, announces selection of three department heads

• Pages: 197-198

Page 197

On June 7, IMF Managing Director Horst Köhler announced the appointments of the new First Deputy Managing Director and three department heads. The full text of IMF Press Release No. 01/27 is available on the IMF's website (www.imf.org).

IMF Managing Director Horst Köhler has proposed the appointment of Anne O. Krueger, a distinguished international economist at Stanford University and former Vice President of the World Bank, to the position of First Deputy Managing Director to succeed Stanley Fischer, who previously announced his decision to leave the IMF later this year (see IMF Survey, May 21, page 167). The Managing Director has also notified the Executive Board that he intends to appoint Directors for the Research Department, the Policy Development and Review Department, and the newly created International Capital Markets (ICM) Department.

Gerd Häusler, former chair of Dresdner Bank AG's investment banking arm and a member of the banking group's managing board, would be Counsellor and Director of the ICM Department, which was created earlier this year to consolidate a range of functions previously spread among three IMF departments (see IMF Survey,March 19, page 85). Harvard University economist Kenneth S. Rogoff, an authority on international economics, would become Economic Counsellor and Director of the IMF's Research Department, succeeding Michael Mussa. Timothy Geithner, former U.S. Treasury Undersecretary for International Affairs and currently a Senior Fellow for International Economics at the Council of Foreign Relations, would become Director of the Policy Development and Review Department, succeeding Jack Boorman.

"I look forward to working with these four outstanding individuals," Köhler stated. "With their extensive expertise in economics, international capital markets, and high-level policymaking, Anne Krueger, Gerd Häusler, Kenneth Rogoff, and Timothy Geithner will join current management and senior staff in leading the IMF as we serve our membership and confront the challenges of the global economy. Together, they will build on the contributions of their distinguished predecessors, Stanley Fischer,Michael Mussa, and Jack Boorman. At a time of important change for the IMF, we are confident we have the right team in place."

The appointments are expected to take effect over the course of the summer. The appointment of Anne Krueger, which is to a five-year term, requires Executive Board approval.

Anne O. Krueger:...