World Bank chief Malpass to leave post by June before term ends

World Bank President David Malpass said Wednesday he will leave his post by the end of June, almost a year before his five-year term ends.

Malpass, appointed by former U.S. President Donald Trump, said in a statement that “after a good deal of thought, I’ve decided to pursue new challenges,” providing no specific reason for his resignation.

He added, “This is an opportunity for a smooth leadership transition as the bank group works to meet increasing global challenges.”

With the multilateral development bank traditionally led by an American, Treasury Secretary Janet Yellen said, “We will put f...