World Bank presidency search opens with Kim

World Bank chief Jim Yong Kim (pictured) will seek a second term of office, the global development lender said on Wednesday, as it announced the start of a selection process for the presidency. Kim’s bid to remain as president comes in the face a rare public rebuke from the Bank’s rankand-file, who earlier this month declared that the institution faced a “crisis of leadership.” Kim’s five-year term ends on June 30. Following an unwritten rule, the United States, the Bank’s largest shareholder, has always chosen its president, while the International Monetary Fund leader has been drawn from Europe.