World Bank Names Harvard Professor Reinhart as Chief Economist

The World Bank on Wednesday named Harvard professor and a former Bear Stearns executive Carmen Reinhart as its new vice president and chief economist, tapping an expert on financial crises who also serves on the advisory board of the New York Federal Reserve.

“I am very pleased to welcome Carmen to the World Bank Group as we boost our efforts to restore growth and meet the urgent debt and recession crises facing many of our client countries,” World Bank Group President David Malpass said in a statement.