Between 1946 and 1974, the World Bank had between one and four vice presidents whose responsibility was the Bank as a whole. During the reorganization in 1972, vice presidencies were created with specific areas of oversight, and when Sir Denis Rickett left the Bank in 1974 the era of general vice presidents was over.

In late 1991, following the appointment of Lewis T. Preston as Bank President, managing director positions were created to provide administrative assistance to the president of the Bank. Reporting directly to the president, the managing directors each had an area of oversight responsibility, but as a whole they formed the kind of broad oversight team that the general vice presidents had provided. The number of managing directors ranged from three to five, with varying areas of emphasis.