Ajaypal Singh Banga

Ajaypal Singh Banga (born November 10, 1959) is an Indian-born American business executive. He is currently the president of the World Bank Group. He was vice chairman at General Atlantic, and was before that 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. He is also the chairman of Netherlands-based investment holding company Exor and chairman of the public-private Partnership for Central America with U.S. Vice President Kamala Harris. Banga is the former chairman of the U.S.-India Business Council (USIBC) representing more than 300 of the largest international companies investing in India, and chairman of the International Chamber of Commerce. Banga was elected president of the World Bank on May 3, 2023, having been nominated to the position in February 2023 by the Biden administration. He was awarded Padma Shri award by Govt Of India in 2016 in the field of trade and industry. Early life and education Ajay Banga was born on November 10, 1959 into a Saini Sikh family, in Khadki cantonment of Pune, Maharashtra, 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.