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PRESS RELEASE December 30, 1960

World Bank Announces Retirement of Mr. Guglielmo M. Ventimiglia

The World Bank today announced the retirement of Mr. Guglielmo M. Ventimiglia of Milan, Italy, effective January l, 1961. Mr. Ventimiglia was born in Caltagirone, Italy, and, after many years of association with the financial communities, both governmental and private, in Europe and the United states, he joined the World Bank in August 1950 as Marketing Representative for Europe. In that capacity, he has dealt with all matters relating to the sale and distribution in Europe of World Bank bonds and of obligations from the Bank's loan portfolio. He has performed invaluable service in establishing the Bank's securities in all the important capital markets of Europe. Upon leaving the Bank, Mr. Ventimiglia will become a private financial consultant to banking and investment institutions in Europe.

Mr. John Duncan Miller, the Bank’s Special Representative for Europe, will be responsible for the Bank's marketing operations in Europe.