Ajay Banga is an Indian-born American business executive who has held several high-ranking positions in several global companies. He made headlines on 24 February 2023 when US President Joe Biden nominated him as a candidate for the post of President of the World Bank (WB).
Contents
Wiki/Biography
Ajaypal Singh Banga was born on Tuesday, 10 November 1959 (age 63 years; as in 2022) in Khadki Cantonment, Pune, Maharashtra, India. Their zodiac sign is Scorpio. After completing his schooling from St. Edward’s School, Shimla, and Hyderabad Public School, Hyderabad, in 1976, he moved to Delhi, where he earned a Bachelor of Arts degree with honors in Economics from St. Stephen’s College, Delhi University. Later, he attended the Indian Institute of Management, Ahmedabad (IIMA), where he earned a master’s degree in Business Administration. He was the topper of his class in IIM.
Physical Appearance
Height (Approx): 5′ 10″
Hair Color: Salt and Pepper
Eye colour: Light brown
Family
parents and siblings
His father, Harbhajan Singh Banga, was a retired Lieutenant General of the Indian Army. He died on 22 December 2011.
A picture of Ajay Banga’s father
His mother’s name is Jaswant Banga. His brother, Manvinder Singh Banga (aka Vindi), is a business executive. He has a sister named Deepa.
Ajay Banga’s brother Manvinder Singh Banga
wife and children
His wife, Ritu Banga, is the co-founder of ZoomDojo, a consulting firm.
A picture taken with Ajay Banga’s wife Ritu Banga
His daughter, Aditi Banga, is the Head of Creator Monetization and Innovation Partnerships at Instagram and is a graduate of Harvard University. His daughter Jojo Banga is also a graduate of Harvard University.
A picture of Aditi Banga with her husband
relationships/affairs
Before marriage, Ajay Banga dated Ritu Banga for some time. They met while studying MBA at the Indian Institute of Management (IIM) in Ahmedabad.
Ajay Banga with Ritu Banga
Religion
Ajay Banga follows Sikhism.
Caste
Ajay Banga was born in a Punjabi Sikh family belonging to the Saini caste, which falls in the Other Backward Class (OBC) category.
Address
He lives at 200 62nd Street, New York, NY 10021, United States of America.
signature/autograph
Ajay Banga’s signature
livelihood
Ajay Banga started his career as a business executive when he joined Nestle India in New Delhi in 1981. Over the following years, he received several promotions and worked in various marketing and general management departments. Later, he was sent to Kolkata, where he worked as a branch manager in the company. After working for thirteen years with Nestle India, Ajay Banga left the company and joined PepsiCo in Delhi. He joined PepsiCo when India was in the process of economic liberalisation. There, he worked as the marketing director for PepsiCo restaurants in India. He worked with PepsiCo for two years. In 1996, he joined Citigroup and was later appointed chief executive officer (CEO) of the Asia-Pacific region. Ajay Banga held several key positions in Citigroup’s senior leadership and executive committees. Later, he moved to the United States. In August 2009, he joined Mastercard Inc. in the United States as its President and Chief Operating Officer (COO). On July 1, 2010, he was promoted and became Chief Executive Officer (CEO) of Mastercard Inc. As a CEO, he was credited with crafting a strategy that saved the jobs of more than 19,000 employees during the COVID-19 pandemic. He also created policies that resulted in more than 500 million global unbanked customers using Mastercard’s services. He worked with MasterCard until 2021.
A photo of Ajay Banga taken during a press conference when he was serving as CEO of Mastercard
Former United States President Barack Obama appointed him as a member of the Presidential Advisory Committee for Trade Policy and Negotiations in 2015. Subsequently, he served as a member of the Commission on Enhancing National Cyber Security established by the US government. In 2017, he co-founded The Cyber Readiness Institute. Later, he represented more than 300 multinational companies as chairman of the US-India Business Council (USIBC).
Ajay Banga shaking hands with Indian Prime Minister Narendra Modi
In July 2021, Banga was appointed as an advisory board member of BeyondNetZero, founded by General Atlantic. Ajay regularly participates in conferences organized by fintechs. Later, he was appointed vice chair to the board of trustees of the New York Hall of Science. On January 1, 2022, he joined American-based private equity firm General Atlantic as its Vice Chairman. He has also served as the chairman of the Netherlands company Exor. Later, the United States government appointed him as Chairman of the Partnership for Central America. There he worked with Vice President Kamala Harris. On 24 February 2023, President Joe Biden recommended the name of Ajay Banga for the post of President of the World Bank Group. Ajay has also served with Kraft Foods, Dow Inc. and the American Red Cross as a board member. Ajay became the first Indian-American to be recommended for the post of President of the World Bank. Talking about this in an interview, Joe Biden said,
Ajay is uniquely equipped to lead the World Bank at this important moment in history. He has spent more than three decades building and managing successful, global companies that create jobs and bring investment to developing economies, and guiding organizations through periods of fundamental change. He has a proven track record of partnering with global leaders around the world to manage people and systems and deliver results.
His nomination by the United States government was supported by India.
awards, honors
- Ajay Banga received the Foreign Policy Association Medal in 2012.
- In 2016, the Government of India honored him with the Padma Shri, India’s fourth highest civilian award.
A picture of Ajay Banga receiving Padma Shri from President Pranab Mukherjee
- In 2019, he received the title of Global Indian of the Year from the Economic Times Awards for Corporate Excellence.
- The Government of Singapore awarded him the Distinguished Friends of Singapore Public Service Star in 2021.
- The Business Council for International Understanding honored him with its Leadership Award.
Ajay Banga with his leadership award
- The Ellis Island Honors Society (EIHS) presented him with the Ellis Island Medal of Honor.
Income
Ajay Banga’s income as the Chief Executive Officer (CEO) of MasterCard was Rs 5.2 million per day.
net worth
Some sources claim that his net worth is estimated to be around $143 million, while some sources claim that his net worth is around $1.2 billion. According to CNBC and WION, his net worth as of 2021 is $206 million (Rs 17 billion).
Favorite
- Basketball Team: New York Mets
- Singer: Lady Gaga,Elvis Presley
- Song: Paparazzi by Lady Gaga
Facts/General Knowledge
- Ajay Banga likes to play golf.
- Ajay Banga likes to listen to devotional songs.
- In 2017, Ajay Banga was ranked the sixth most influential business person of the year by Fortune.
- In the same year, Ajay Banga was ranked 40th in Harvard Business Review’s list of the best performing CEOs in the world.
- Ajay Banga occasionally consumes alcoholic beverages.
- He was one of the prominent individuals attending the 2023 G20 summit held in New Delhi. Banga was involved in discussions that focused on India’s efforts to enhance regional connectivity, promote prosperity within the region and pursue a comprehensive development agenda. In addition, he spoke about the challenges facing countries in the Global South and provided valuable insights.
Ajay Banga with Prime Minister Narendra Modi at the 2023 G20 Summit
Categories: Biography
Source: vcmp.edu.vn