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PRESS RELEASE January 7, 1953

Appointment of Henry W. Riley to be Treasurer of the World Bank

The International Bank for Reconstruction and Development today announced the appointment of Henry w. Riley to be Treasurer of the Bank. Mr. Riley succeeds Mr. D. Crena de Iongh, who has been elected Executive Director for the Netherlands of both the International Bank and the International Monetary Fund, effective January 1, 1953.

Mr. Riley has been associated with the Bank since August 1946, and has been Assistant Treasurer since December 1946. From 1933 until he joined the Bank, he held various positions in the United States Government. He served in the U.S. Treasury Department from 1933 to 1935, and in the latter year, joined the Federal Deposit Insurance Corporation, serving first as Controller and then as Executive Officer. During the war years, Mr. Riley assumed additional responsibilities, as Executive Officer in the Office of the Alien Property Custodian, as Deputy Administrator of the Foreign Economic Administration, and finally as Trustee and Vice President of the Export-Import Bank of Washington.

Prior to his government service, Mr. Riley was an instructor at Furman University in Greenville, South Carolina and a practicing public accountant. In 1930 he joined the firm of Ernst & Ernst as a senior public accountant. Mr. Riley was born in Greenville, S. C. in 1902 and was graduated from the University or Richmond in 1923.

As an Executive Director of the Bank, Mr. Crena de Iongh succeeds Mr. A. M. de Jong of the Netherlands, who has resigned. In 1946, Mr. Crena de Iongh became an Alternate Director of the International Bank and Monetary Fund., representing the Netherlands and the Union or South Africa, and also served as Acting Treasurer of the Bank. He was appointed Treasurer of the Bank on December 1, 1946.

Mr. Crena de Iongh has had a long financial career. From 1914 through 1939, he held various positions in the Netherlands Trading Society, including that of President. As an official of the Netherlands East Indies Government from 1940 through 1946, he was manager of the Exchange Control in the Indies and in charge of the financial interests of the Netherlands East Indies in the United Kingdom and the United States. He represented the Netherlands Government in the discussions with the U. S. Treasury in 1943 concerning plans to establish a monetary fund. He was also a member of the Netherlands' delegations to various international meetings, including the United Nations Monetary and Financial Conference held at Bretton Woods in 1944.