Ajaypal Singh Banga was born on November 10,1959 and is an Indian-born American business executive.
23 Facts About Ajay Banga
Ajay Banga was executive chairman of Mastercard, after having previously served as president and chief executive officer of the company from July 2010 until December 31,2020.
Ajay Banga retired from this position on December 31,2021, to join General Atlantic.
Ajay Banga is the chairman of Netherlands-based investment holding company Exor and chairman of the public-private Partnership for Central America with US Vice President Kamala Harris.
Ajay 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.
Ajay Banga was born on November 10,1959, in Khadki cantonment of Pune, Maharashtra, India, into a Saini Sikh family, where his father, an army officer, was posted.
Ajay Banga was educated at St Edward's School, Shimla, and at the Hyderabad Public School in Hyderabad.
Ajay Banga went on to graduate with a bachelor of arts degree in economics from the St Stephen's College, Delhi, subsequently earning his PGP in management from the Indian Institute of Management, Ahmedabad.
Ajay Banga later joined PepsiCo and was involved in the launch of its international fast food franchises, including Pizza Hut and KFC, in India as the economy liberalized.
In 1996, Ajay Banga joined Citigroup, where he briefly served as a debt collector as part of his training.
Ajay Banga headed up CitiFinancial and the US Consumer Assets Division from 2000 to 2002 From 2005 to 2008 he was chief executive of Citi's International Global Consumer Group, which included all credit card and consumer banking operations outside of North America.
In 2008, Ajay Banga became chief executive of the bank's Asia-Pacific business, and splitting time between New York and Hong Kong.
Ajay Banga received about $10 million in compensation in 2008 from Citigroup, making him one of the firm's highest paid executives that year.
In 2020 Ajay Banga was elected chairman of the International Chamber of Commerce succeeding Paul Polman.
Ajay Banga previously served as ICC's First Vice-Chair since June 2018.
On January 1 2022, Ajay Banga assumed responsibilities at General Atlantic as vice chairman.
In February 2015, President Barack Obama appointed Ajay Banga to serve as a member of the President's Advisory Committee for Trade Policy and Negotiations.
Since the 2020 elections, Ajay Banga has been an outside adviser to Vice President Kamala Harris as chairman of the Partnership for Central America where he has led a group of business leaders who have advised her on the administration's work in El Salvador, Guatemala and Honduras.
On February 23,2023, Ajay Banga was nominated by President Biden to lead the World Bank.
Ajay Banga was the keynote speaker at the NYU Stern 2014 Graduate Convocation on May 22,2014, where he spoke about the importance of diversity in driving innovation and leadership.
Ajay Banga was a keynote speaker for his alma mater, the Indian Institute of Management Ahmedabad, during the Class of 2015's convocation.
Ajay Banga is a regular speaker at various FinTech conferences and various leadership conferences.
Ajay Banga appeared on the Mad Money show hosted by Jim Cramer on Thursday, 6 Nov 2014.