US President Joe Biden has nominated Ajay Banga, a former chief executive officer of Mastercard Inc to lead the World Bank after David Malpass has announced that he would step down from his post.
Ajay Banga is the son of an officer in the Indian Army. He spent his childhood in India. He studied economics at Delhi University and began his career at Nestle and spent more than a decade in sales and marketing roles and then moved on to PepsiCo Inc. He later joined Citigroup Inc in 1996. He proved his mettle there and rose to lead the bank’s international consumer operations. From there, he joined Mastercard in 2009. He then joined the US Investment firm General Atlantic as vice chairman at the end of 2021.
Meanwhile top leaders across the world have endorsed Banga’s nomination to lead the World Bank
