Biden will nominate former Mastercard CEO Ajay Banga in a surprise pick to be the next president of the World Bank
Ajay Banga is an Indian-American business executive who is best known for his role as the CEO of Mastercard. Here are some interesting facts about him:
Ajay Banga was born in Pune, India in 1960. He grew up in Delhi and graduated from St. Stephen’s College, Delhi University, with a bachelor’s degree in economics.
After completing his bachelor’s degree, Banga went to the United States to pursue a MBA degree from the Indian Institute of Management Ahmedabad.
In 1981, Banga started his career with Nestle India and worked there for 13 years in various roles. He then moved to PepsiCo, where he worked for the next 13 years in senior leadership positions.
In 2009, Banga joined Mastercard as the president and chief operating officer. He was appointed as the CEO of the company in 2010.
Banga is known for his advocacy on issues related to financial inclusion and digital payments. He has spoken extensively about the importance of bringing the unbanked population into the formal financial system.
In 2015, Banga was appointed by US President Barack Obama to the Commission on Enhancing National Cybersecurity.
Banga has received numerous awards and recognitions for his contributions to the business world. He was named one of Fortune’s “World’s 50 Greatest Leaders” in 2014, 2015, and 2016.
In addition to his role at Mastercard, Banga serves on the boards of several organizations, including the Council on Foreign Relations, the International Cricket Council, and the Peterson Institute for International Economics.