James D. Wolfensohn is the World Bank Group’s ninth President since 1946. He was reappointed to a second five-year term as president beginning June 1, 2000. Prior to joining the Bank, Mr Wolfensohn was an international investment banker. He set up his own investment firm, James D. Wolfensohn Inc., in 1981 to advise major international and US corporations, previously holding a series of senior positions in finance including Executive Partner of Salomon Brothers in New York and head of its investment-banking department, Executive Deputy Chairman and Managing Director of Schroeder’s Ltd in London, President of J. Henry Schroeder’s Banking Corporation in New York, and Managing Director, Darling & Co of Australia. Currently, in addition to serving as President of the World Bank Group, he is Chairman of the Board of the Institute for Advanced Study at Princeton, and an Honorary Trustee of the Brookings Institution and a member of the Council on Foreign Relations and the Century Association in New York. MrWolfensohn has been the recipient of many awards for his volunteer work, including the first David Rockefeller Prize of the Museum of Modern Art in New York for his work for culture and the arts, and in May 1995 he was awarded an Honorary Knighthood by Queen Elizabeth II for his contribution to the arts. He was born in Australia in 1933 and is a naturalized US citizen. He holds a BA and LLB from the University of Sydney and an MBA from the Harvard Graduate School of Business.