Ex-WB president Wolfenson dies at 86

MANHATTAN: James Wolfensohn, an investment banker who helped straighten out the finances of major American cultural institutions and served as president of the World Bank, died Wednesday (Thursday in Manila) at the age of 86.

World Bank Group President David Malpas paid tribute, saying that Wolfensohn “sharpened its focus on poverty reduction and redoubled its efforts to combat corruption, give voice to the poor, and magnify the impact of development investments.”