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PRESS RELEASE November 6, 1963

Staff Appointment of Director of Marketing Department in New York Office

The Mr. George D. Woods, President of the World Bank and the International Finance Corporation (IFC), today announced that, effective November 1, 1963, the Marketing Department of the Bank and IFC located in New York City will be designated "New York Office", and named Mr. Howard C. Johnson as Director. Mr. Johnson has been Manager of Portfolio Sales and Participations in the Marketing Department since joining the Bank and IFC in May 1963.

From 1955 until he joined the Bank and IFC, Mr. Johnson was associated with the United States Steel Corporation, first, as Assistant to the Chairman of the Board and from 1960, as Director of the Stockholder Relations Department. Mr. Johnson was graduated from Swarthmore College and received his Master’s Degree from the Harvard Business School in 1932. From 1933 to 1941 he was in investment banking, first with Lazard Freres & Co. and subsequently with Morgan Stanley & Co. Mr. Johnson was in the United States Navy in World War II, during 'Which he served as Assistant to the Secretary of the Joint Chiefs of Staff. From 1945 to 1952 he was in the Bureau of United Nations Affairs of the State Department where he was Chief of the Division of International Security Affairs and later Adviser on Planning. From 1952 to 1955 Mr. Johnson was with the Ford Foundation.

Mr. George Martin, who had been Director of the Marketing Department since 1950, resigned as of November 1 to become Vice Chairman and a member of the Board of Directors of Morgan & Cie, S.A., in Paris.