IMF's de Rato taps John Lipsky

IMF managing director Rodrigo de Rato has proposed that John Lipsky, currently Vice-Chairman of JPMorgan, be appointed as the IMF's first deputy managing director. He would be succeeding Anne Krueger, who retires in August.

de Rato also announced a high-level committee to think about the IMF's financial model and its long-term sustainability. Greenspan and El-Erian are just some of the names on board.