The shock arrest of Dominique Strauss-Kahn in New York yesterday has thrown an American former Salomon Brothers and JP Morgan economist into the forefront of the International Monetary Fund at one of its most crucial points in its history.

The arrest of Strauss-Kahn over allegations of sexual assault is likely to speed up the international community's search for a long-term successor for the managing director of the IMF, whose five-year tenure comes to an end in September 2012.