A Former JPMorgan Guy Just Took Over For Dominique Strauss-Kahn


John Lipsky will step in as acting managing director of the IMF for chief Dominique Strauss-Kahn, who is under investigation for sodomy in New York.

As a reminder, this says nothing about DSK’s alleged guilt. It’s simply not possible to run a huge organisation while you’re involved in a serious investigation.

In fact, Lipsky said that he would step down at the end of his term in August just 2 days ago. So his post appears to be quite temporary.

IMF spokesman William Murray just said in a statement: “In line with standard IMF procedures, John Lipsky, first deputy managing director, is acting managing director while the MD is not in DC.”

“Mr. Lipsky will chair the informal Board session today.”

Lipsky’s bio:

  • Formerly Vice Chairman of JPMorgan’s investment bank
  • At JPM, he “advised the firm’s principal market risk takers, published independent research on the principal forces shaping global financial markets, was actively engaged with JPMorgan’s key clients, and represented the firm around the world with senior public and financial sector decision makers.”
  • Formerly JPMorgan’s Chief Economist
  • Formerly Chase Manhattan Bank’s Chief Economist and Director of Research
  • Chief Economist of Salomon Brothers, Inc. from 1992 until 1997
  • Directed Salomon Brothers’ European Economic and Market Analysis Group from 1989 to 1992 in London