David Malpass began his five-year term as president of the World Bank Group on 9 April 2019. He previously served as under secretary of the US Treasury for international affairs, and represented the United States at the G20 and G7 deputy finance ministerial meetings. Before joining the US Treasury, Malpass was an international economist and founder of a macroeconomics research firm based in New York City. He served as chief economist of Bear Stearns. He also served as deputy assistant secretary of the US Treasury for developing countries and deputy assistant secretary in the Department of State for Latin American economic affairs.