BUSINESS

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BUSINESS

'US nominates Ajay Banga for World Bank'

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World Bank president

Ajay Banga, the former MasterCard CEO, has been nominated by the US to lead the World Bank. If selected, he will be the first person of Indian origin to helm the institution.

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Background

Banga was born in Pune. He began his professional career at Nestlé in 1981 and worked at Pepsico and Citigroup before joining MasterCard in 2009.

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MasterCard CEO

Banga served as MasterCard's CEO till December 2020 and was its executive chairman till December 2021. He currently serves as the vice chairman of General Atlantic.

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Padma Shri

Banga was honored with the Padma Shri, India's fourth-highest civilian award, in 2016. He is a member of the Trilateral Commission and a founding trustee of the US-India Strategic Partnership Forum.