Background
Woods, George David was born on July 27, 1901 in Boston, Massachusetts, United States. Son of John and Laura A. (Rhodes) Woods.
banker economist politician president
Woods, George David was born on July 27, 1901 in Boston, Massachusetts, United States. Son of John and Laura A. (Rhodes) Woods.
Student American Institute Banking, 1920-1923. Doctor of Laws, University Notre Dame, 1963, Allegheny College, 1963, Bowdoin College, 1964, Harvard University, 1956, Columbia 1966. Doctor of Humane Letters, Lafayette College, 1964, Kenyon College, 1968.
He served as President of the World Bank from January 1963 until March 1968. After completing high school he was employed as an office boy at Harris, Forbes & Company, an underwriting firm. By the age of 26 he had been promoted to a vice president position.
First Boston became one of the largest investment banking firms in the United States, and Woods played a major role in lieutenant
In 1947 he became one of two executive vice presidents, then in 1948 became chairman of the executive committee. Then, in 1951 Woods became chairman of the board.
Woods tenure at the World Bank accompanied its transformation into a more global institution, One emphasis he had was to work to correct the disparity between rich and poor, and North and South. Under Woods, there was an increasing focus on economic analysis in determining root causes for constrained growth in developing nations, and less focus on the basis determination of country creditworthiness.
Under his tenure, the International Centre for Settlement of Investment Disputes (ICSID) was established, which provided assurance for nervous private investors.
Woods was also leader of the World Bank during the effort to assist India, which resulted in the devaluation of the rupee in 1966.
In 1930 the firm was acquired by Chase Bank, and Woods was made vice president of the new firm. He later became vice president and member of the board of First Boston Corporation, a newly formed securities company.
Married Louise Taraldson, April.