Who Is Ajay Banga, Ex-Mastercard CEO Nominated To Lead World Bank?

US President Joe Biden on Thursday announced to nominate former Mastercard Chief Executive Ajay Banga to lead the World Bank. The current World Bank chief David Malpass announced to quit early, AFP reported.

"Banga has critical experience mobilizing public-private resources to tackle the most urgent challenges of our time, including climate change," Biden said.

"At Mastercard and General Atlantic, Ajay has made combating climate change and mobilizing private capital to help power the green transition a priority," reports quoted a senior US official as saying.

Born and brought up in India, Banga completed his education from Shimla and Delhi. He started his career in India Nestle and Pepsico.

In 1996, Banga joined Citigroup and rose through the ranks and even became the CEO of its Asia-Pacific region.