At a packed retirement party in November, colleagues handed Axel van Trotsenburg a poster reading “$700 billion man” — the sum his supporters say he helped raise for the World Bank over nearly four decades. From a member of the bank’s Young Professional Program to senior managing director, the bank’s second-highest role, Axel was a central figure whose influence shaped the institution as presidents came and went during his 37-year tenure.
Inside 1818 H Street at the bank’s headquarters in Washington, D.C, he was feared and respected. Colleagues spoke of his courtesy, and one recalled a janitor at the Washington HQ who said he liked Axel because he always stopped to say good morning. NGOs, however, were so eager to see him step aside that they staged a mock retirement party outside the bank in 2024, protesting his long tenure.
Those competing views — of an indispensable insider and an immovable force — highlight the adjustment the bank now faces. Interviews with more than a dozen current and former senior bank officials, donors, civil society figures, and former shareholders depict an institution still finding its footing in a post-Axel era.