James Wolfensohn

Sir James David Wolfensohn was the ninth President of the World Bank and President of Wolfensohn & Company, an international investment-banking firm. Wolfensohn was born in Sydney, Australia, entered Sydney University at age 15, and became a lawyer with a local firm. His initial ignorance of finance "unleashed an extraordinary drive" that led him to the Harvard Business School. Wolfensohn went on to develop the corporate finance division at Solomon Brothers, and, in 1981, he launched his own firm, which provided strategic advice to U.S. corporations. He has a long and distinguished record as a patron of the arts and science, including service as Chairman of the John F. Kennedy Center for the Performing Arts and a 12-year term as Chairman of Carnegie Hall, where he helped save the structure for future generations. In July 1995, he became the President of the World Bank, after President Clinton nominated him. He visited 120 countries during his term and brought attention to the problem of corruption in the area of development financing. A decade later, he founded Wolfensohn & Company, a privately held firm that invests, and provides strategic advice to governments and large corporations doing business in emerging market economies. Jim Wolfensohn attended the 1993 Achievement Summit and spoke to the students about his personal journey from Australia to the center of the international finance world.