John Lipsky

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John Lipsky
Managing Director of the International Monetary Fund
Acting
In office
May 15, 2011 – July 5, 2011
Preceded byDominique Strauss-Kahn
Succeeded byChristine Lagarde
First Deputy Managing Director of the International Monetary Fund
In office
September 1, 2006 – September 1, 2011
DirectorDominique Strauss-Kahn
Christine Lagarde
Preceded byAnne Osborn Krueger
Succeeded byDavid Lipton
Personal details
Born (1947-02-19) February 19, 1947 (age 77)
[
Cedar Rapids, Iowa, U.S.
RelationsJoan Lipsky (mother)
Children3
EducationWesleyan University (BA)
Stanford University (MA, PhD)

John Phillip Lipsky (born February 19, 1947)[

Johns Hopkins School of Advanced International Studies (SAIS).[6]

Family, early life and education

Lipsky during the WEF 2011

Lipsky was born into a

Cedar Rapids, Iowa.[7] Lipsky's great-grandfather, Henry Smulekoff, was a Ukrainian immigrant who opened a furniture store on Cedar Rapids' May's Island in 1890. Lipsky was the middle child of three[3] born to Abbott and Joan Miller Lipsky.[8] His late father was president of Smulekoff's,[8] and sister Ann Lipsky is president today.[3] His mother was a lawyer who served as a member of the Iowa House of Representatives and as the chair of the Iowa Council on Human Services.[3][8] Early interest in Latin America was sparked by a family vacation in Mexico which led to a friendship, a summer in Guadalajara with the friend, and a summer for the friend in Iowa.[3][9]

Lipsky attended Wesleyan University, earning a B.A. in economics. He then earned a M.A. and Ph.D. in economics from Stanford University.[1][10]

Career

On graduation from Stanford, Lipsky joined the International Monetary Fund, where he helped manage the Fund's exchange rate surveillance procedure. Appointed the IMF's resident representative in Chile from 1978 (during General Augusto Pinochet's military dictatorship), Lipsky returned, in 1980, to the IMF headquarters in Washington D.C. to develop the IMF's analysis of international capital markets.[1][11] He also participated in negotiations with several member countries.[1]

After 10 years at the IMF, in 1984 he joined

Chase Manhattan was appointed Chief Economist and Director of Research. He was then appointed to an operation role, becoming vice chairman of JPMorgan Investment Bank.[1]

"In 2000, he chaired [an IMF] Financial Sector Review Group, established by former Managing Director

arrested on sexual assault charges.[4]

Lipsky also serves on the board of directors of the

Japan Society, the advisory board of the Stanford Institute for Economic Policy Research, and the Council on Foreign Relations.[17] On 27 February that year, it was announced that he was joining the board of HSBC[18]

IMF leadership role

Lipsky's unplanned accession at the IMF led quickly to his immersion in addressing

the European and Greek sovereign debt crises, a high-profile role his predecessor had been playing. At the 37th G8 summit held on 26–27 May 2011 in Deauville, France, Lipsky had to overcome Germany's reluctance to fund another round of bailouts for Greece. He did so by threatening to withhold IMF disbursements, an action that would precipitate a Greek default – an option none was ready to accept at that point.[19] In the "bitter infighting," Lipsky was characterized in The Guardian as "less silky, much blunter" than Strauss-Kahn.[20][21]

Lipsky retired from the IMF in 2011. He now teaches at the Johns Hopkins School of Advanced International Studies (SAIS).[22]

Lipsky was credited with introducing Elizabeth Holmes of Theranos to the sometime chairman of Oracle, Donald Lucas. Lucas went on to serve as the chairman of the board of Theranos. http://digitalassets.lib.berkeley.edu/roho/ucb/text/lucas_don.pdf

Personal life

Lipsky lives in Washington, D.C., and Brooklyn, New York.[citation needed]

References

  1. ^ a b c d e f g h "John Lipsky – Biographical Information". International Monetary Fund. May 25, 2011. Retrieved May 28, 2011.
  2. ^ McEnery, Thornton (May 17, 2011). "Meet John Lipsky And The 6 Other People Who Could Take Over For DSK". Business Insider. Retrieved May 21, 2011.
  3. ^ a b c d e Belz, Adam (May 17, 2011). "Lipsky 'well-prepared' for IMF leadership". USA Today. Retrieved May 21, 2011.
  4. ^
    Wall Street Journal
    . May 15, 2011.
  5. Washington Post
    . Reuters. May 15, 2011.
  6. ^ "IMF's Lipsky on China's economy". CNC World. June 13, 2011.
  7. ^ "If anyone can save us, Strauss-Kahn | the Jewish Chronicle". Archived from the original on May 18, 2011. Retrieved May 16, 2011.
  8. ^ a b c "The Des Moines Register". Des Moines Register. Retrieved October 4, 2017.
  9. ^
    Des Moines Register
    . Retrieved June 16, 2011.
  10. ^ "Hogendorn Lectures". Wesleyan University. Archived from the original on April 5, 2011. Retrieved May 28, 2011.
  11. ^ Katz, Ian (May 16, 2011). "IMF Amid Scandal Turns to Lipsky as Greece Talks Persist". Bloomberg Businessweek. Archived from the original on May 18, 2011.
  12. New York Times
    . Retrieved May 15, 2012.
  13. ^ "IMF First Deputy Managing Director John Lipsky Announces Departure" (Press release). International Monetary Fund. May 12, 2011.
  14. ^ Rastello, Sandrine (May 12, 2011). "IMF's No. 2 Official Lipsky Will Leave Post on August 31". Bloomberg Television.
  15. ^ "John Lipsky". Charlie Rose. Archived from the original on October 22, 2010. Retrieved May 28, 2011.
  16. ^ Rastello, Sandrine (September 28, 2010). "Lipsky Says Global Growth in Second Half Will Fall Short of IMF's Forecast". Bloomberg Television.
  17. ^ "IMF Managing Director de Rato Proposes Appointment of John Lipsky as First Deputy Managing Director" (Press release). International Monetary Fund. May 18, 2006.
  18. ^ "HSBC Group corporate website | HSBC Holdings PLC".
  19. ^ Traynor, Ian (June 16, 2011). "Hardline IMF forced Germany to guarantee Greek bailout". The Guardian. Retrieved June 16, 2011.
  20. ^ Traynor, Ian (June 16, 2011). "How Dominique Strauss-Kahn's arrest in New York worsened Europe's woe". The Guardian. Retrieved June 16, 2011.
  21. ^ Traynor, Ian (June 17, 2011). "Hardline IMF forced Germany to guarantee Greek bailout". The Guardian. Retrieved June 17, 2011.
  22. ^ "John Lipsky, formerly of IMF, joins economics program at SAIS : Johns Hopkins University". Gazette.jhu.edu. Retrieved October 4, 2017.

External links

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Diplomatic posts
Preceded by First Deputy Managing Director of the International Monetary Fund
2006–2011 		Succeeded by
Preceded by Managing Director of the International Monetary Fund
Acting
2011 		Succeeded by
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