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PRESS RELEASE November 27, 1970

Staff Appointments of Controller and Deputy Controller

Mr. Robert S. McNamara, President of the World Bank Group, today announced the appointment of Mr. K. Georg Gabriel as Controller of the World Bank Group, to succeed Mr. Francis R. Poore who is retiring on December 31, 1970. In accepting Mr. Poore's request to retire, Mr. McNamara said: "Mr. Poore's loyalty to the ideals of the World Bank Group and the contribution he has made throughout his more than 23½ years of service have been of a very high order, and his wise counsel shall be missed."

Mr. Victor Chang, who has been associated with the Bank since 1947 and has been Deputy Chief of the Accounting Division since 1962, has been named Deputy Controller.

Mr. McNamara also announced that Mr. K. S. Krishnaswamy, who has been Director of the Economic Development Institute since 1967, intends to return to India in April 1972. He will be succeeded at that time by Mr. Andrew M. Kamarck. Mr. Kamarck will relinquish his responsibilities as Director of the Economics Department on January 1, 1971, going on sabbatical to prepare himself for his new assignment by research and study at Harvard University. Mr. P. D. Henderson will be promoted to Director of the Economics Department.

K. Georg Gabriel, a German national aged 42, has been Deputy Controller of the Bank Group since 1969. He came to the Bank in 1967 as a Loan Officer in the South America Department. Prior to joining the Bank he worked in Caracas, Venezuela, first as Senior Auditor with Price Waterhouse & Company and more recently as General Manager of Industrial Consultants Organization. Before that he was Auditor with the U.S. High Commission in Germany and with the International Refugee Organization. Mr. Gabriel did graduate work at Harvard University receiving his M.B.A. in Finance, Economic Analysis and his Ph.D. in International Business.

Victor Chang, 51, a Chinese national, has been associated with the Finance Division of the Bank Group (later Accounting Division) throughout his career in the Bank, having been Accountant from 1947 to 1959 and Chief Accountant from 1960 to 1962. He received his B.A. in Economics from St. John's University, Shanghai, and his Master's Degree in Economics from the University of Michigan.

P. D. Henderson, aged 43 and a British national, came to the World Bank in 1968 as Visiting Lecturer at the Economic Development Institute. He has been Chief of the Quantitative Techniques and Analysis Division of the Economics Department since 1969. Before joining the Bank, Mr. Henderson was an Adviser with the Harvard University Development Advisory Service in Greece and Malaysia Earlier he was Chief Economist at the U.K. Ministry of Aviation, and Fellow and Tutor in Economics at Lincoln College, Oxford.