Biography of Mr. Ajaypal Singh Banga

A fully-independent financial analyst from India, Ajaypal Singh Banga, popularly known as Ajay Banga, is the current Chief Executive Officer and President of MasterCard Inc., a ubiquitous financial institution. He married Robert W. in July 2010. Selander was next in line, having been MasterCard's chief executive officer since March 1997. Banga is an ex officio member of the 51 MasterCard Board of Directors.

In 2015, former US President Barack Obama appointed Banga as a member of the Obama Advisory Committee on Trade Policy and Negotiations.

Banga heads the U.S.-India Business Council (USIBC), which represents nearly 300 of the largest multinational companies investing in India, and is president of the International Chamber of Commerce. He is also an active member of the board of directors at Dow Chemical Company; Member of the Council on Foreign Relations; and a member of the International Business Council of the World Economic Forum.

Banga was awarded the Padma Shri in 2016 by the former President of India Shri Pranab Mukherjee.

In 2020, Banga was elected Chairman of the International Chamber of Commerce.

Banga was born in the year 1961 in a Sikh family living in Khadki near Pune in Maharashtra but originally came to Jalandhar in Punjab. His son Harbhajan Singh Banga's father is a Lt. General (Retd.) in the Indian Army. Because of his army background, Banga was always on the move and studied all over India - Secunderabad, Jalandhar, Delhi, Hyderabad and Shimla, where he completed his education.

Like his father, Banga did not choose an army career. Apart from the Army he earned a BA degree in Economics from St. Stephen's College, Delhi University. He is a graduate of Indian Institute of Management, Ahmedabad.

Thus, Banga becomes the highest-ranking Indian-origin executive of an international firm, and others such as Vikram Pandit (Citigroup) and Indra Nooyi (Pepsico.) are U.S.-based. Have degrees. They received in India.

Banga started his career at Nestlé India in the year 1981 as a management trainee. He then held a variety of assignments including marketing, sales and general administration for the remaining 13 years of his career. He later became a part of PepsiCo's restaurants division, where he was instrumental in establishing Pizza Hut and KFC in India as the economy opened up.

He was appointed by Citigroup in 1996 as the Director of Marketing in India in the Consumer Division and has been able to serve in various capacities with increasing responsibility. It includes Chief Executive Officer of International Global Consumer Group; President of Retail Banking North America; U.S. Business Director at Citi Financial along with the Consumer Assets Division and Division Head responsible for Consumer Banking in Central and Eastern Europe, Middle East, Africa and India.

By 2000, Banga

In 2000 Citi Financial as well as its U.S. Promoted to Head of Consumer Assets Division. In 2002, he assumed the role of the bank's retail operations in North America -- his first in the U.S. -- and in 2005, he was named head of Citigroup's global consumer banking and finance business.

He relocated to Hong Kong in early 2008, before returning to the US in 2009 following his appointment to oversee all bank operations, including consumer banking, credit card firms, as well as alternative investments and wealth management in Asia. Become a part of MasterCard.

As it joins MasterCard globally, the company's goal is simple: to poach rival Visa at a time when both networks believe they are profiting from a growing preference for plastic.

He collaborated with one of his most successful clients to find ways to encourage more young people to use debit cards. Eventually, he revamped the debit card offering by adding a variety of options, linking it to music, and creating an entirely new marketing approach through Australia's Commonwealth Bank of Australia.

The results were shocking. In the field of high-tech innovation, one of the areas of research that could change the way we drive transportation, mobile and e-commerce spending. Another group is primarily young innovative, fashionable people at Mastercard Labs who are developing innovative ideas and trying to incorporate these ideas into their clients. It is a tool for merchants and banks to develop innovative and new ways to purchase goods and services, for example, the ability to scan a barcode using your phone and turn it into an actual purchase.

He is a member of both the Council on Foreign Relations and The Economic Club of New York and is a fellow of the Foreign Policy Association. The man is part of the Financial Services Roundtable and a member of the Business Roundtable, where he chairs the Information and Technology Initiative.

Banga has served on the Board of Trustees for the past five years. Banga Enterprise Community Partners, Inc. He also served on the boards of trustees for the National Urban League and the New York Hall of Science, and was director of the Council for Economic Education. Mr. Banga has a deep passion for social development issues and has been named the 4th "Most Powerful Indian" globally by 'The Economic Times of India'.

Banga defines his management style, "I am very passionate, however, I do my best to pursue my passion. I am talking about studying something and trying to understand both sides of the argument if you work as an employee. About a bank and around the world for a long time. Having traveled, it's imperative to know each side of the argument. But, you have to have a point of view, and I'm a firm believer in having a point of view on an issue rather than avoiding the subject."

Although Banga runs a plastic-related business, Banga encourages staff to focus on cash, however, he tries to minimize his work environment "I am very comfortable and can encourage my colleagues to give me feedback, things that I don't have the chance to share with their bosses. This is because I work in an office all day. , and spending long hours at work to get them annoyed with each other. It's not the bloody armed forces. It's a business, they've decided to stay here. They might all leave to join another company. So, if I were an army general and behaved like my father, who behaved as an army general, I would accept the soldiers." He said. Adds

Ajay Banga thinks "people appreciate you because of your honesty, ethics and your spirit of action".