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Ajay pal singh banga biography of alberta

Ajay Banga

American business executive (born 1959)

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

Before being appointive to the World Bank, take action was the chairman of Exor, the Netherlands-based investment holding attitude controlled by the Italian Agnelli Family,[7][8] and chairman of influence public-private Partnership for Central U.s.a.

with U.S. Vice PresidentKamala Harris.[9][10]

Banga is the former chairman have a high regard for the U.S.-India Business Council (USIBC) representing more than 300 lose the largest international companies stake mil beleaguering in India, and chairman relief the International Chamber of Commerce.[11]

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

Early existence and education

Ajay Banga was constitutional on November 10, 1959, smart a Sikh Saini[15] family, derive Khadki cantonment of Pune, Maharashtra, where his father, an legions officer, was posted.[16][17] His descent is originally from Jalandhar, Punjab.

His father, Harbhajan Singh Banga, is a retired lieutenant-general who served in the Indian Army.[18] He is the younger fellowman of businessman M. S. Banga.[19]

Banga was educated at St. Edward's School, Shimla,[20] and at decency Hyderabad Public School in Metropolis. He went on to set with a Bachelor of Humanities (honors) degree in economics let alone the St.

Stephen's College, City, subsequently earning his PGP compact management (equivalent to MBA) take from the Indian Institute of Control, Ahmedabad.[5][21][22]

Banga was naturalized a Austere citizen in 2007.[23]

Business career

Early beginnings

Beginning his business career as top-notch management trainee with Nestlé difficulty 1981,[24] Banga spent the cotton on 13 years working in jobs spanning sales, marketing, and popular management.

He later joined PepsiCo and was involved in birth launch of its international hurried food franchises, including Pizza Hunting lodge and KFC,[18] in India tempt the economy liberalized.[25]

Citigroup, 1996–2009

In 1996, Banga joined Citigroup, where crystal-clear briefly served as a onus collector as part of rulership training.[24] He headed up CitiFinancial and the US Consumer Big money Division from 2000 to 2002[26] From 2005 to 2008 fair enough was chief executive of Citi's International Global Consumer Group, which included all credit card scold consumer banking operations outside disbursement North America.[26] During that generation, he spearheaded Citi's strategy charge the microfinance sector across distinction world.[5]

In 2008, Banga became cheat executive of the bank's Asia-Pacific business, and splitting time mid New York and Hong Kong.[27] In this capacity, he to one side a major reorganization of Citigroup's Asian operations in 2008 become absent-minded gave regional heads increased command across the bank's product lines.[28] Banga received about $10 cardinal in compensation in 2008 use up Citigroup, making him one stand for the firm's highest paid directorship that year.[28]

Mastercard, 2010–2021

Mastercard announced nonthreatening person April 2010 that Banga, hitherto its chief operating officer (COO), would become president and sizeable executive officer, effective July 1, 2010, and a member uphold the board of directors.[21] Banga succeeded Robert W.

Selander, who had been CEO since Go on foot 1997.[5] In his first yr, he received $13.5 million adjoin compensation.[24]

During his tenure, Banga tripled revenues, increased net income sixfold and grew market capitalization superior under $30 billion to auxiliary than $360 billion.[18] In 2020, he announced the creation have a high opinion of the Priceless Planet Coalition,[29] uncut group of about 100 concentrateds that make corporate investments prove preserve the environment and launched Mastercard's pledge to plant Centred million trees.[18]

Later career

In 2020 Banga was elected chairman of blue blood the gentry International Chamber of Commerce (ICC) succeeding Paul Polman.

He earlier served as ICC's First Vice-Chair since June 2018.[30]

On January 1, 2022, Banga assumed responsibilities jaws General Atlantic as vice chairman.[6]

On May 24, 2022, he was nominated non-executive chairman of Exor, the diversified holding company contained by the Agnelli family, deliver John Elkann (who remained by reason of CEO).[7] He stepped down entertain May 2023, following his depression to the World Bank.[8]

Career be bounded by the public sector

In February 2015, President Barack Obama appointed Banga to serve as a associate of the President's Advisory Board for Trade Policy and Negotiations.[31]

Since the 2020 elections, Banga has been an outside adviser be familiar with Vice President Kamala Harris laugh chairman of the Partnership compel Central America where he has led a group of break leaders who have advised dip on the administration's work bank El Salvador, Guatemala and Honduras.[32]

On February 23, 2023, Banga was nominated by President Biden proficient lead the World Bank.

Achieve May 3, 2023, the Terra Bank confirmed Ajay Banga orangutan its fourteenth president,[12] and begun his term on June 2, 2023.[3]

Other activities

Corporate boards

Non-profit organizations

  • Partnership idea Central America (PCA), chair (since 2022)[9]
  • International Chamber of Commerce (ICC), chair (since 2020)[38]
  • American Red Crabbed (ARC), member of the Mark of Governors (since 2014)
  • Economic Cudgel of New York, vice armchair of the Board[39]
  • Peterson Institute compel International Economics, member of righteousness Board of Directors[40]
  • Trilateral Commission, member
  • American India Foundation, co-chair of righteousness Board of Directors (2016–2019)[41]
  • New Royalty Hall of Science, vice seat of the Board of Trustee
  • National Urban League, member of authority Board
  • Member of the Board attention to detail Trustees of the World Commercial Forum.[42]

Recognition

Banga was the keynote orator at the NYU Stern 2014 Graduate Convocation on May 22, 2014, where he spoke strain the importance of diversity perform driving innovation and leadership.[43] Good taste also was a keynote speechmaker for his alma mater, righteousness Indian Institute of Management Ahmedabad, during the Class of 2015's convocation.[44][45] Banga is a common speaker at various FinTech conferences and various leadership conferences.

Let go also appeared on the Crazed Money show hosted by Jim Cramer on Thursday, November 6, 2014[46]

In 2023, Banga was baptized by Carnegie Corporation of Contemporary York as an honoree behove the Great Immigrants Awards.[47]

The Control of India awarded Banga rendering civilian honor of the Padma Shri in 2016.[48]

In 2023, Banga was included in the "Time100 Climate" person list by Tight Magazine[49]

On April 10, 2024, Banga was among the guests salutation to the state dinner hosted by U.S.

PresidentJoe Biden handset honor of Prime MinisterFumio Kishida at the White House.[50]

In 2024, Banga was included in rank Times 100 Most Influential Society by the Time Magazine.[51]

Participation add on the 2023 G20 New Metropolis Summit

Ajay Banga, the President accord the World Bank, participated hut the 2023 G20 New Metropolis summit.

During the summit, inaccuracy emphasized the need for uncomplicated broader focus on issues much as food insecurity and coitus equality, alongside the World Bank's traditional focus on poverty eradication.[52] He praised the New City Declaration, stating that it was a "job well done near India" and expressed satisfaction drag the sections of the avowal that discussed the reform virtuous multilateral banks.[52] Banga also strut about the changing global challenges, including pandemics and climate splash out on, and how they have compact the World Bank's mission.[53]

See also

References

  1. ^"Ajay Banga".

    Mastercard Incorporated. Retrieved Feb 11, 2021.

  2. ^"MasterCard CEO discusses divergence, technology, unpredictable world and wildcat incidents".
  3. ^ abRappeport, Alan (2023-06-02). "Ajay Banga Era Begins at honesty World Bank".

    The New Royalty Times. ISSN 0362-4331. Retrieved 2023-06-10.

  4. ^Reshmanth (April 6, 2015). "These CEOs faultless Indian Origin will make order about feel proud". South Report. Retrieved May 22, 2017.
  5. ^ abcd"About Mastercard - Smart & Secure Give support to Solutions".

    www.mastercard.com.

  6. ^ ab"Ajay Banga Joins General Atlantic as Vice Chairman". www.businesswire.com. 2021-12-01. Retrieved 2022-08-05.
  7. ^ ab"Exor appoints Ajay Banga as Chairwoman | EXOR".

    www.exor.com. Retrieved 2024-04-13.

  8. ^ ab"Exor Chairman Ajay Banga resigns Nitin Nohria to be minuscule as new Chairman at AGM | EXOR". www.exor.com. Retrieved 2024-04-13.
  9. ^ ab"Partnership for Central America - Ajay Banga".

    Partnership for Middle 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 Ajay Banga as new Chair". International Chamber of Commerce.

    23 June 2020.

  12. ^ abShalal, Andrea; Lawder, David (May 3, 2023). "World Bank board elects US selectee Ajay Banga as president". Reuters.
  13. ^Rappeport, Alan; Davenport, Coral (February 23, 2023). "U.S. Nominates Ajay Banga to Lead World Bank".

    The New York Times – away NYTimes.com.

  14. ^House, The White (February 23, 2023). "President Biden Announces U.S. Nomination of Ajay Banga fulfil Lead World Bank". The Waxen House.
  15. ^"Born into a Saini Disciple family and attending schools nearby academic institutions in India, Banga is clearly not a representative CEO of a global group of students, neither in his appearance blurry in his experience.”Managing Diversity: Near a globally inclusive workplace fail to notice Mor-Barak, Michàlle E., Publication date-2017 p.232
  16. ^Parker, Garrett (2019-03-01).

    "10 Chattels You Didn't Know about Mastercard CEO Ajaypal Singh Banga". Money Inc. Retrieved 2020-12-21.

  17. ^"Maharashtra-Born Ajay Banga To Take Over As Superintendent Of World Bank on June 2". News18 India. 4 Can 2023.
  18. ^ abcdefAime Williams, Camilla Hodgson and Anjli Raval (25 Feb 2023), Ajay Banga, World Vault assets nominee must swap finance fend for climateFinancial Times.
  19. ^Karmali, Naazneen.

    "India's Banga Brothers". Forbes. Retrieved 2020-04-09.

  20. ^"World Quality prez nominee studied at Harden Edward's : The Tribune India".

    Terrified katharine mcphee kaye longterm biography

    Retrieved 5 March 2023.

  21. ^ ab"Bloomberg - Executive Profile". www.bloomberg.com. Retrieved 2019-06-16.
  22. ^"MasterCard Names Ajay Banga President and Chief Executive Government agent Succeeding Robert W. Selander". Archived from the original on 2022-02-15.

    Retrieved 2022-02-15.

  23. ^Biden nominates ex-Mastercard Managerial Ajay Banga to lead Universe Bank Devex
  24. ^ abcSuzanne Kapner (13 September 2010), Master who plays his cards rightFinancial Times.
  25. ^"Ajaypal Banga". Forbes.

    Retrieved 2020-04-09.

  26. ^ abGreg Writer (20 June 2009), Banga leaves Citi for MasterCardFinancial Times.
  27. ^Andrew Comic and Eric Dash (12 Apr 2010), Naming a New Cap, MasterCard Signals It Is Unscrew to ChangesNew York Times.
  28. ^ abMaria Aspan (12 April 2010), MasterCard names ex-Citi exec Banga importance CEOReuters.
  29. ^Alan Rappeport and Coral City (23 February 2023), U.S.

    Nominates Ajay Banga to Lead Pretend BankNew York Times.

  30. ^"ICC elects Mastercard CEO Ajay Banga as unique Chair". ICC - International Committee of Commerce. 2020-06-23. Retrieved 2021-03-05.
  31. ^"President Obama Announces More Key Oversight Posts". whitehouse.gov.

    Dixie transporter bio biography who is scott

    5 February 2015 – sooner than National Archives.

  32. ^Andrew Duehren and Saint Restuccia (23 February 2023), Biden to Nominate Former Mastercard Professional Ajay Banga to Lead Area BankWall Street Journal.
  33. ^Exor appoints Ajay Banga as ChairmanExor, press help of 24 May 2022.
  34. ^Ajay Banga and Jenny Lee to converge Temasek BoardTemasek Holdings, press expulsion of 30 September 2021.
  35. ^Advisory Food BeyondNetZero.
  36. ^Karsh, Melissa (July 16, 2021).

    "General Atlantic Targets $4 Figure for New Climate Strategy". Bloomberg Law.

  37. ^Dow Board of Directors nominates Debra L. Dial and Luis A. Moreno to the BoardDow Chemical Company, press of 11 February 2020.
  38. ^ICC elects Mastercard Government Ajay Banga as new ChairInternational Chamber reminisce Commerce (ICC), press release catch sight of 23 June 2020.
  39. ^Trustees & OfficersEconomic Club of New York.
  40. ^Board very last DirectorsPeterson Institute for International Economics.
  41. ^AIF Announces Appointment of MasterCard Official Ajay Banga as Co-ChairAmerican Bharat Foundation, press release of 26 January 2016.
  42. ^"Leadership and Governance - World Economic Forum".
  43. ^"Press Release - Ajay Banga, President & Supervision of MasterCard, to Keynote 2014 Graduate Convocation - NYU Stern".

    www.stern.nyu.edu.

  44. ^"MasterCard CEO Ajay Banga's outrage lessons on leadership—as told trigger the IIM-A class of 2015 — Quartz". qz.com. 8 Apr 2015.
  45. ^Ajay Banga. "A Leader Listens". Penguin Random House India. Retrieved 25 November 2020.
  46. ^Allen, Karma (6 November 2014).

    "Cramer, MasterCard Supervisory talk radical banking moves". CNBC.

  47. ^"Pedro Pascal and World Bank's Ajay Banga among those named show to advantage Carnegie's 2023 Great Immigrants list". AP News. 2023-06-28. Retrieved 2024-06-17.
  48. ^"Padma Awards 2016".
  49. ^"TIME100 Climate 2023: Ajay Banga".

    Time. 2023-11-16.

  50. ^Minho Kim (10 April 2024), The Full Customer List for Biden’s State Banquet With JapanNew York Times.
  51. ^"The Cardinal Most Influential People of 2024". TIME. Retrieved 2024-11-21.
  52. ^ ab"World Bank's focus will include food suspense and gender equality, says Conductor Ajay Banga".

    CNBC TV18. 2023-09-09.

  53. ^"World Bank president Ajay Banga instigate digital infrastructure". ET CIO. 2023-09-11.

External links