Ajay Banga

Ajay Banga
Banga at the White House in 2023
President of the World Bank Group
Incumbent
Assumed office
June 2, 2023
Preceded byDavid Malpass
Personal details
Born
Ajaypal Singh Banga

(1959-11-10) November 10, 1959 (age 65)
Poona, Bombay State, India
CitizenshipIndian (1959–2007)
American (2007–present)
RelativesM. S. Banga (brother)
EducationSt. Stephen's College, Delhi (BA)
Indian Institute of Management, Ahmedabad (MBA)

Ajaypal Singh "Ajay" Banga (born November 10, 1959[1]) is an Indian-born American business executive.[2] He is currently the president of the World Bank Group.[3] He was the executive chairman of Mastercard, after having previously served as president and chief executive officer (CEO) of the company from July 2010 until December 31, 2020.[4][5] He retired from this position on December 31, 2021, and joined General Atlantic as its vice chairman.[6]

Before being nominated to the World Bank, he was the chairman of Exor, the Netherlands-based investment holding company controlled by the Italian Agnelli Family,[7][8] and chairman of the public-private Partnership for Central America with U.S. Vice President Kamala Harris.[9][10]

Banga is the former chairman of the U.S.-India Business Council (USIBC) representing more than 300 of the largest international companies investing in India, and chairman of the International Chamber of Commerce.[11]

Banga was elected President of the World Bank on May 3, 2023, having been nominated to the position in February 2023 by the Biden administration.[12][13][14]

  1. ^ "Ajay Banga". Mastercard Incorporated. Retrieved February 11, 2021.
  2. ^ "MasterCard CEO discusses diversity, technology, unpredictable world and personal incidents".
  3. ^ Rappeport, Alan (2023-06-02). "Ajay Banga Era Begins at the World Bank". The New York Times. ISSN 0362-4331. Retrieved 2023-06-10.
  4. ^ Reshmanth (April 6, 2015). "These CEOs of Indian Origin will make you feel proud". South Report. Retrieved May 22, 2017.
  5. ^ "About Mastercard - Smart & Secure Payment Solutions". www.mastercard.com.
  6. ^ "Ajay Banga Joins General Atlantic as Vice Chairman". www.businesswire.com. 2021-12-01. Retrieved 2022-08-05.
  7. ^ "Exor appoints Ajay Banga as Chairman | EXOR". www.exor.com. Retrieved 2024-04-13.
  8. ^ "Exor Chairman Ajay Banga resigns Nitin Nohria to be proposed as new Chairman at AGM | EXOR". www.exor.com. Retrieved 2024-04-13.
  9. ^ "Partnership for Central America - Ajay Banga". Partnership for Central America. Retrieved 2023-02-23.
  10. ^ "President Biden Announces U.S. Nomination of Ajay Banga to Lead World Bank". The White House. 23 February 2023. Retrieved 2023-02-23.
  11. ^ "ICC elects Mastercard CEO Ajay Banga as new Chair". International Chamber of Commerce. 23 June 2020.
  12. ^ Cite error: The named reference wbg was invoked but never defined (see the help page).
  13. ^ Rappeport, Alan; Davenport, Coral (February 23, 2023). "U.S. Nominates Ajay Banga to Lead World Bank". The New York Times – via NYTimes.com.
  14. ^ House, The White (February 23, 2023). "President Biden Announces U.S. Nomination of Ajay Banga to Lead World Bank". The White House.