Robert Zoellick is the 11th president of the World Bank Group, which works with 185 member countries as source of financial and technical assistance to developing areas. He assumed this position on July 1, 2007. On Feb. 15, 2012, Zoellick announced that he would step down at the end of his term on June 30, 2012.
In his post at the World Bank, Zoellick chairs meetings of the boards of directors and is responsible for overall management of the Bank. By tradition, the Bank president is a U.S. national and is nominated by the United States, the Bank's largest shareholder. The president is elected by the board of governors for a five-year, renewable term.
In November of 2010, Zoellick made comments in the Financial Times bringing up the idea of a gold standard as a "cooperative monetary system." He saw gold being used as an "international reference point of market expectations about inflation, deflation and future currency values" and that gold is a viable alternative to paper currencies.
Zoellick has extensive experience with international and economic policy as well as with government initiatives. Prior to joining the Bank, Zoellick served in various roles at Goldman Sachs Group, including vice chairman, International. Zoellick also served as deputy secretary and COO of the U.S. State Department where he was focused on economic, environmental and trans-national issues. One of the things Zoellick was involved in was overcoming the crisis in Sudan. He visited camps in Darfur numerous times and worked closely with the African Union, the UN organizations, and other government entities to improve security and basic conditions.
Zoellick served in the president's cabinet as U.S. Trade Representative from 2001- 2005 where he worked on an activist approach to free trade at the global, regional and bilateral levels. He also served as executive vice president at Fannie Mae from 1993-1997.
Zoellick graduated from Swarthmore College in 1975. He earned a J.D. from the Harvard Law School and a MPP (focusing on public management and international issues) from the Kennedy School of Government in 1981. Zoellick spent time in Hong Kong on a fellowship in 1980.
- Zoellick to leave World Bank. Financial Times.
- Biography: Robert B. Zoellick, 11th Chief Executive of World Bank. World Bank.
- Zoellick Pushes Gold Standard Debate. The Street.
- World's Banker: Responsibility of Robert Zoellick. Harvard Law Record.