Ivanka Trump, the president’s daughter, will help lead the US search for a candidate to run the World Bank, but is not a contender for the position, the White House said on Monday. 

In a statement, the White House said Steven Mnuchin, the Treasury secretary, and Mick Mulvaney, the White House chief of staff, had “asked Ms Trump to help manage the US nomination process as she’s worked closely with the World Bank’s leadership for the past two years”.

The statement from the White House follows a report on Friday in the Financial Times saying Ms Trump’s name had been floated in Washington as a possible candidate to replace Jim Yong Kim, who suddenly announced an early departure from the multilateral lender last week. The White House said reports that she was “under consideration” were false.