June 27, 2012
Washington—The Peterson Institute for International Economics is delighted to announce that Robert B. Zoellick will become its first Distinguished Visiting Fellow following the completion of his five-year term as President of the World Bank Group on June 30. Mr. Zoellick, a former Deputy Secretary of State and United States Trade Representative, has participated in many public meetings at the Institute during his career at the Bank and in the United States government, most recently on June 14, when he discussed his leadership of the Bank and a range of foreign and economic policy issues. Mr. Zoellick served as a member of the Institute’s Advisory Committee from 1993 to 2001. He will also become a Senior Fellow at the Belfer Center for Science and International Affairs at Harvard University’s Kennedy School of Government.
“We are delighted that Bob Zoellick will be joining the Peterson Institute in this distinguished capacity,” said Dr. C. Fred Bergsten, the Director of the Institute. “No one on the world scene is more committed to the goals of improving global prosperity and international cooperation, and enhancing economic globalization that is both open and fair—goals that we at the Institute have long espoused. We have worked closely with Bob on trade, finance, development and many other issues over his long and distinguished career and are honored that he has spoken many times from the Institute’s podium. We are delighted that he will continue to contribute his insights at both our public meetings and private staff discussions.”
“I appreciate the opportunity to engage with the scholars and practitioners at Harvard’s Belfer Center and the Peterson Institute for International Economics,” said Mr. Zoellick. “I hope to work on the intersection of economics and security, applying history to policy questions of today. Both institutions have been at the cutting edge of research and policy development, and I have benefited greatly from both in the past.”
The Institute is also pleased to announce that Senior Fellow Carmen M. Reinhart will be assuming the new post of Minos Zombanakis Professor of the International Financial System at the Harvard Kennedy School on July 1. She will continue as a Senior Fellow at the Peterson Institute, contributing to the Institute’s research activities and publications. “We congratulate Carmen on her new appointment and wish her well,” said Dr. Bergsten. “It has been a great pleasure to work so closely with her during these last two years and we are very pleased that while teaching at Harvard she will maintain her active affiliation with the Institute.”
As the 11th president of the World Bank Group, Mr. Zoellick turned around an institution in trouble in 2007, recapitalized the Bank, and expanded financing for the poorest countries following the food, fuel and financial crises of recent years. He modernized the Bank by making it more accountable, flexible, fast-moving, transparent, and focused on good governance and anti-corruption. He has increased representation of developing countries in governance and staffing and encouraged developing countries to set their own priorities rather than have them dictated from the Bank. His record has also been marked by an increased role for the private sector through the Bank’s International Finance Corporation (IFC), which under his leadership has recruited sovereign wealth funds and pension funds to invest in poor countries, especially in Africa.
Before his term at the Bank, Mr. Zoellick served as Vice Chairman, International, of the Goldman Sachs Group as well as Managing Director and Chairman of Goldman Sachs’ Board of International Advisors from 2006–07. Previously, he was Deputy Secretary of State in 2005–06 and a member of the cabinet as US Trade Representative from 2001 to 2005.
From 1985 to 1993, he served at the Treasury and State Departments in various posts, as well as White House Deputy Chief of Staff. He was the lead US official in the “Two-plus-Four” process of German unification in 1989–90 and served as “sherpa” for the preparation of the G-7/8 Economic Summits in 1991–92.
Mr. Zoellick graduated Phi Beta Kappa from Swarthmore College in 1975 and earned a JD magna cum laude from the Harvard Law School and a Master of Public Policy (MPP) from the Kennedy School of Government in 1981.
About the Peterson Institute
The Peter G. Peterson Institute for International Economics is a private, nonprofit, nonpartisan research institution devoted to the study of international economic policy. Since 1981 the Institute has provided timely and objective analysis of, and concrete solutions to, a wide range of international economic problems. Support is provided by a wide range of charitable foundations, private corporations and individual donors, and from earnings on the Institute’s publications and capital fund. It celebrated its 25th anniversary in 2006 and adopted its new name at that time, having previously been the Institute for International Economics.