Ajaypal Singh Banga, who has been nominated by US President Joe Biden to lead the World Bank, is one of the illustrious alumni of Hyderabad Public School (HPS) who achieved top positions in their respective fields.
Ajay Banga Personal Life
Ajaypal Singh Banga was born November 10, 1959, is an American business executive. On February 23, 2023, he was nominated by President of the United States Joe Biden to lead the World Bank.
He is currently Vice Chairman at General Atlantic. He was executive chairman of Mastercard, after having previously served as president and chief executive officer (CEO) of the company from July 2010 until December 31, 2020.
He retired from this position on December 31, 2021, to join General Atlantic. His pay package, in 2020, was $27.77 million. He is also the chairman of the Netherlands based investment holding company Exor and chairman of the public-private Partnership for Central America with U.S. Vice President Kamala Harris.
Chairman of The U.S.-India Business
Banga served as chairman of the U.S.-India Business Council (USIBC), which represents more than 300 international companies investing in India, as well as chairman of the International Chamber of Commerce. Additionally, he serves on the board of directors of Dow Chemical Company, the Council on Foreign Relations, and the World Economic Forum’s International Business Council.
He has been nominated by President Joe Biden as ajay banga biography, a role which has traditionally been from the United States.
Ajay Banga Education
Banga was educated at St. Edward’s School, Shimla, and at the Hyderabad Public School in Hyderabad. He went on to graduate with a Bachelor of Arts (Honours) degree in Economics from the St. Stephen’s College, Delhi followed by PGP in Management (equivalent to MBA) from the Indian Institute of Management, Ahmedabad.
Ajay Banga, Satya Nadella, Studied in Same Hyderabad School
Ajaypal Singh Banga, who has been nominated by US President Joe Biden to lead the World Bank, is one of the illustrious alumni of Hyderabad Public School (HPS) who achieved top positions in their respective fields.
The former Mastercard Chief Executive had his schooling at HPS in the 1970s when his father Harbhajan Singh Banga, an army officer, was posted here. Ajay Banga, an Indian-American, is currently serving as vice chairman at equity firm General Atlantic.
Ajay Banga is one of the distinguished alumni in the long list that includes Microsoft CEO Satya Nadella, India’s former permanent representative at the United Nations Syed Akbaruddin, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy and well-known cricket commentator Harsha Bhogle.
Ajay Banga Career
Banga is passionate about social development issues, and between 2005 and mid-2009, he led Citi’s global microfinance strategy. He succeeded Paul Polman as chairman of the International Chamber of Commerce (ICC) in 2020. His previous role was First Vice-Chair of the ICC since June 2018.
Banga, previously Mastercard’s chief operating officer (COO), will become president and chief executive officer, effective July 1, 2010, and a board member. In March 1997, Banga succeeded Robert W. Selander as CEO.
On January 1 2022, Banga assumed responsibilities at General Atlantic as Vice Chairman.
On February 23 2023, he was nominated by President of the United States Joe Biden to lead the World Bank.
U.S. government
In February 2015, President Barack Obama appointed Banga to serve as a member of the President’s Advisory Committee for Trade Policy and Negotiations.
World Bank
In March 2023, Ajay was elected as the new President of the World Bank for a five-year term. On March 3, 2023, the 26-next President board of the World Bank confirmed Ajay Banga, the former CEO of Mastercard, as the next president of the World Bank. Ajay succeeds current president David Malpass and his appointment will take effect on June 2.
Ajay’s appointment comes as the lender looks to combat climate change more effectively. Ajay was the only candidate to replace outgoing World Bank President, David Malpass. He was nominated by US President Joe Biden at the end of February.
Ajaypal Singh Banga Net Worth/Salary
Ajay Banga has $113,123,489 worth of Mastercard stocks. Over the last 13 years, he sold stocks worth lakhs of dollars. At Mastercard, he was earning $23,250,000 per year. In Indian rupees, this is around Rs 1,92,32,46,975. This means his salary package was Rs 52 lakh per day.
Ajay Banga Family
Ajay Banga was born on November 10, 1959, in Khadki cantonment of Pune, Bombay State, India (now in Maharashtra) into a Saini Sikh family, where his father, an army officer, was posted. His family is originally from Jalandhar, Punjab. His father, Harbhajan Singh Banga, is a retired lieutenant-general who served in the Indian Army. He is the younger brother of businessman M. S. Banga.
Wife
Ajay Banga is married to Ritu Banga. She attended the “Career in Impact” workshop at CIIE on Monday as an IIMA alumni and co-founder of Zoomdojo. After nearly twenty years, she is returning to university.
Know Some Interesting Facts About Ajay Banga
- Ajay Banga is the son of Lieutenant General Harbhajan Banga of the Indian army. His family is a native of Punjab’s Jalandhar.
- Banga started his career in 1981 with Nestle. He remained with the company for 13 years. He later joined PepsiCo. He received Padma Shri, the third-highest civilian honour.
- As the world recognised his talent, India, too, honored Banga. In 2016, the Indian government awarded Banga with a Padma Shri, the fourth-highest civilian honor.
Bio/wiki
| First Name | Ajaypal |
| Middle Name | Singh |
| Last Name | Banga |
| Profession | Vice Chairman at General Atlantic. |
| Age | 63 years old |
| Wife | Ritu Banga |
| Birth Date | November 10, 1959 |
| birthplace | Pune, India |
| Country | United States |
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