New Delhi: Indian-American and former Mastercard chairman Ajaypal Singh Banga have been nominated by US President Joe Biden for the presidency of the World Bank.
He will replace David Malpass, a former Trump treasury official, reported axios.com.
Ajay Banga will be a transformative World Bank President. I have seen firsthand the great insight, energy, and persistence he brings to address global challenges and promote economic opportunity – and I look forward to continuing to work together.
Read my full statement. pic.twitter.com/0hnxjddtu3
— Vice President Kamala Harris (@VP) February 23, 2023
David Malpass has announced that he will resign by July, months ahead of his term expired.
Who is Ajaypal Singh Banga?
Ajaypal Singh Banga is an Indian-American who was born on November 10, 1959, in Pune India. He is 63 years old.
His father was an Indian Army Officer and he was raised in Pune.
He has done his graduation with B.A in Economics with honors from St. Stephen’s College, Delhi University.
Banga received his MBA degree from the Indian Institute of Management, Ahmedabad.
Ajaypal worked in various posts at Nestle and later shifted to the United States of America where he joined Citigroup.
In 1996 Ajaypal Singh Banga joined Citigroup, where he served as the CEO of Citigroup’s Asia-Pacific Region.
In August 2009, he joined MasterCard as president and chief operating officer.
On December 31, 202, he retired from Mastercard.
In 2007, Banga became a US citizen.
In 2012, he was awarded the Foreign Policy Association Medal.
In 2016, he was awarded the Padma Shri.
In 2019, Banga was awarded the Ellis Island Medal of Honour and the Business Council for International Understanding’s Global Leadership Award.
In 2021, he was awarded the Distinguished Friends of Singapore Public Service Star.
