Who is Ajay Banga? The US nominee to be World Bank President

By: FPJ Web Desk | February 23, 2023

Pune-born Ajaypal Singh Banga completed his graduation from Delhi's St Stephen's College and secured an MBA from the coveted IIM-Ahmedabad.

After working for top brands such as Nestle and Pepsico, Banga moved to the US in 1996 to join Citigroup, where he served as CEO for India and Southeast Asia during his 13-year stint.

He joined Mastercard as the President and Chief Operating Officer (COO) in 2009, before being elevated to the position of Chief Executive Officer (CEO) in a year.

At Pepsico in the 90s, Banga played a major role in launching its international fast food segment in India after the economy opened up post the 1991 liberalisation.

As opposed to his predecessor at World Bank, Banga has a stand on climate change and believes that it has the worst impact on socially and economically vulnerable people.

As Mastercard CEO, Banga had also said that a Indo-US mahagathbandhan, could play a transformative role in the world.