Eugene Rotberg
According to Deborah Shapley's (1993) Promise and Power, The Life and Times of Robert McNamara when McNamara announced the appointment of Eugene H. Rotberg as treasurer of the World Bank Group:
- "Rotberg was a career lawyer at the Securities and Exchange Commission, and received a phone call from McNamara: 'What do you know about international finance?' McNamara asked. 'Nothing' said the lawyer. 'Have you ever studied accounting?' 'No', the lawyer said, he had studied English literature, history, and trial law. McNamara asked what the man thought of investment bankers; he replied that he was trying to indict most of them under the Sherman Antitrust Act. What do you think about the problems of poverty? The lawyer said poverty was one of those things you could spend your life at and still not succeed. Then McNamara asked him if he would accept the post of treasurer of the World Bank."[1]
The World Bank also add that Rotberg's expertise in the bond market greatly expanded the Bank's funding, which allowed McNamara to double the overall lending program of the Bank within his first five year term as President (1968-1973). Rotberg was 39 years old when he was appointed Treasurer. He remained Treasurer and Vice President and Treasurer until his retirement in 1987.
Rotberg is also a member of the Washington based Global Integrity[2] which "generates, synthesizes, and disseminates credible, comprehensive and timely information on governance and corruption trends around the world."[3]
Rotberg was Executive Vice President and a member of the Executive Committee at Merrill Lynch & Co., Inc. and is a member of Newsdesk Media Group.
Rotberg stepped in during the "I made a mistake for which I am sorry," Wolfowitz scandal at the World Bank when the bank's 24-member executive board reportedly concluded that in arranging a new job (and generous pay and promotion package) for his girlfriend Riza, Wolfowitz violated bank procedures. Rotberg, stated that Wolfowitz's problem only minimally involves his female companion.
- "I suspect that the main reason is rather straight forward... It is Iraq. It is his failure even now to admit that he was wrong, that he made a mistake and that he caused great damage... if the countries say your effectiveness is damaged, if the staff say your effectiveness is damaged, then by definition you are damaged."[4]
