Graeme Wheeler, vice president and treasurer of the World Bank, will act as interim managing director until Shengman Zhang, who is leaving at year's end, is replaced. Mr. Wheeler was also named chairman of a search committee charged with identifying senior-level candidates to replace Mr. Zhang, according to a statement by Paul Wolfowitz, president of the Washington-based international organization. Mr. Wheeler, who is not a candidate for the position, heads management of the $11.9 billion World Bank pension fund.
Giovanni Prezioso, general counsel of the SEC, announced today that he is leaving to return to the private sector. He has not yet accepted another position and will remain with the SEC until April 2006, according to a news release. He was named general counsel in April 2002. "Giovanni's service at the SEC has coincided with the most significant expansion of the agency and the most important enlargement of our authority since the commission's earliest years. When the next chapter of the SEC's history is written, Giovanni Prezioso will rightfully occupy a prominent place," said Chairman Christopher Cox in the release.