Former Treasury Secretary Steven Mnuchin intervened when Donald Trump wanted Ivanka for the World Bank

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Former Treasury Secretary Steven Mnuchin has reportedly prevented Trump from appointing Ivanka to head the World Bank

  • Ivanka Trump was proposed as a suitable candidate to lead the World Bank in January 2019 by her father, former President Donald Trump
  • It came after Jim Yong Kim announced his resignation to take a job with a Wall Street company
  • Trump wanted his daughter at the helm until Treasury Secretary Steve Mnuchin stepped in and blocked her appointment to the role
  • Instead, the White House said Mnuchin and then-incumbent Chief of Staff Mick Mulvaney had asked them to help find a candidate for the job
  • The candidate for World Bank President is chosen by the Bank’s Board of Governors, but they usually confirm the American’s election

Former Treasury Secretary Steven Mnuchin was forced to step in when former President Donald Trump proposed his daughter Ivanka as a potential nomination for President of the World Bank.

Ivanka, the fashion designer, was the first name Trump thought of when the position suddenly became vacant in January 2019 after Jim Yong Kim announced his resignation to take up a job with a Wall Street company.

It would have been a significant promotion for the 39-year-old who served as her father’s senior advisor in the White House.

Former Treasury Secretary Steven Mnuchin was forced to step in when former President Trump proposed his daughter Ivanka as a potential nomination for President of the World Bank

Former Treasury Secretary Steve Mnuchin (left) had to reject Trump's proposal to make his daughter the next President of the World Bank. Mick Mulvaney

Former Treasury Secretary Steve Mnuchin (left) had to reject Trump’s proposal to make his daughter the next President of the World Bank. Acting Chief of Staff Mulvaney (right) asked Ivanka to lead the job search for the next leader

“When the White House elected its new president, a name Trump dearly kept floating around: his daughter Ivanka Trump,” reveals a report from The Intercept.

“Two unauthorized sources say that Ivanka’s talk at the top was way beyond the realm of Beltway talk: Trump really wanted Ivanka to be President of the World Bank, and it was Mnuchin who actually did hers Ascent to the leadership role blocked. It was incredibly close. ‘

As president of the bank, Kim’s surprise departure took the administration by surprise, but outside of that, there were concerns that Trump might pick someone wholly unfit for the role.

As president of the bank, Jim Yong Kim's surprise departure took the administration by surprise in January 2019, but there were concerns outside the White House that Trump might pick someone wholly unfit for the role

As president of the bank, Jim Yong Kim’s surprise departure took the administration by surprise in January 2019, but there were concerns outside the White House that Trump might pick someone wholly unfit for the role

At the time, the rumors that Ivanka was in the running were denied by the White House by publicly declaring that she was “happy” to advise her father.

“Mnuchin often stood between the President and what the Treasury Secretary found colossally counterproductive. His stint as a Hollywood producer – which made him a representative of the set that Trump longed to approve – gave him leverage that others in the administration lacked, ”Details of The Intercept.

Ultimately, Ivanka was asked by Mnuchin and Acting Chief of Staff Mick Mulvaney to lead an internal search to assist in the selection of the institution’s new President, former Undersecretary of the Treasury for International Affairs, David Malpass.

Ivanka’s nomination for the post of World Bank would also likely cause a stir.

Former Undersecretary of State for the Treasury for International Affairs, David Malpass, was eventually named president

Former Undersecretary of State for the Treasury for International Affairs, David Malpass, was eventually named president

Although the US president does not have the final say on who will head the mega-lender that provides money for capital projects around the world and works to eradicate poverty, the American front runner is usually approved.

The bank’s board of directors eventually has to approve a new president of the organization.

Ivanka Trump had previously worked with bank officials as part of an effort to empower women around the world and helped launch the Women Entrepreneurs Finance Initiative.

Jessica Ditto, a former Trump White House deputy communications director, explained Ivanka’s qualifications for helping select the next World Bank chief. “She has worked closely with the World Bank leadership for the past two years,” Ditto said at the time.

Ivanka Trump had previously worked with bank officials as part of an effort to empower women around the world and helped launch the Women Entrepreneurs Finance Initiative

Ivanka Trump had previously worked with bank officials as part of an effort to empower women around the world and helped launch the Women Entrepreneurs Finance Initiative

The World Bank grants loans for Capitol projects around the world and works to eradicate poverty

The World Bank grants loans for Capitol projects around the world and works to eradicate poverty

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