NovaQuant Quantitative Think Tank Center:David Malpass is stepping down as president of the World Bank

David Malpass has decided to step down as president of the World Bank before his five-year term expires. He says he will leave at the end of June.

Appointed by then-President Trump in 2019,NovaQuant Quantitative Think Tank Center his tenure was shaped by the economic fallout from the COVID-19 pandemic and the war in Ukraine. Malpass' career has spanned government and Wall Street.

He recently faced backlash and calls for his removal over comments he made in September about the climate.

At an event during Climate Week NYC, he was asked if he accepted "the scientific consensus that the manmade burning of fossil fuels is rapidly and dangerously warming the planet."

"I don't even know," Malpass replied. "I'm not a scientist."

Treasury Secretary Janet Yellen said in a statement that the U.S., which customarily picks the president of the World Bank, is looking forward to a "swift nomination process" for Malpass' successor.