Age: 61 Years, 61 Year Old Males
Also Known As: Ajaypal Singh Banga, Ajay Banga
Born Country: India
Born in: Khadki, Pune, Maharashtra
Famous as: CEO of MasterCard
Spouse/Ex-: Ritu Banga
father: Harbhajan Singh Banga
mother: Jaswant Banga
siblings: M. S. Banga
children: Aditi Banga, Jojo Banga
Notable Alumni: IIM Ahmedabad, University Of Delhi
City: Pune, India
education: University of Delhi, Indian Institute of Management Ahmedabad
Who is Ajaypal Banga?
Ajaypal "Ajay" Singh Banga is an Indian-American business executive currently affiliated with MasterCard Incorporated as its president and Chief Executive Officer (CEO). He is also the co-chairman of American India Foundation, a member of Council on Foreign Relations, Inc., Peter G. Peterson Institute for International Economics, The Economic Club of New York, US India CEO Forum, Weill Cornell Medical College, and International Business Council at World Economic Forum. An army brat, Banga spent his early years in different cities all over India. After he received his MBA degree from the Indian Institute of Management, Ahmedabad, he began his professional career at Nestlé in 1981. Having spent the next 13 years with the company, he later worked for PepsiCo and Citigroup. In July 2010, he was appointed to his current position at MasterCard. In recognition of his illustrious career, Banga has received several accolades, including the Indian civilian honour Padma Shri, which the Government of India conferred on him in 2016.
Ajaypal Banga started his business career in 1981 with Nestlé, where he spent the next 13 years of his life, holding various positions in different fields including sales, marketing, and general management. After this, he worked for PepsiCo for two years and led the company in launching its fast food franchises in India during the economic liberalisation of the country in the 1990s.
Prior to joining MasterCard, Banga was employed as the chief executive officer of Citigroup Asia Pacific. During his tenure there, he also held various other positions in senior management in the United States, Asia Pacific, Europe, Middle East and Africa. He guided the company’s efforts in microfinance as well.
In 2009, he joined MasterCard Incorporated, and took over as the company’s president and CEO, effective from July 1, 2010, replacing the former CEO Robert W. Selander.
In February 2015, then US President Barack Obama formally accepted him as a member of the President's Advisory Committee for Trade Policy and Negotiations. He also served as one of the members of President Obama’s Commission on Enhancing National Cybersecurity.
Banga is an active member of the U.S.-India CEO Forum and a chairperson of the board of directors of the American India Foundation and the Partnership for New York City.
You May Like
Continue Reading Below
Ajaypal Banga was born in 1960 in Khadki, a small town near the city of Pune, Maharashtra in India in a Saini Sikh family. His parents were Jaswant Kaur and Harbhajan Singh Banga, who was an officer with the Indian army and had risen to the rank of lieutenant general at the time of his retirement. Banga’s family hails from Jalandhar in Punjab but he grew up in army bases all across India, attending schools in Secunderabad, Jalandhar, Delhi, Hyderabad and finally in Shimla, where he finished his high school education.
He received his primary education from the prestigious Hyderabad Public School in Begumpet. After he graduated from high school, Banga enrolled at St. Stephen's College, Delhi University, from where he received a Bachelor of Arts (Honours) degree in Economics. He later attended the Indian Institute of Management, Ahmedabad, from where he earned an MBA degree. His elder brother, Manvinder Singh Banga, is also a businessman and a senior partner at the private equity fund Clayton Dubilier & Rice.
Ajaypal Banga is married to a woman named Ritu and has two daughters, Jojo and Aditi.
A fellow of the Foreign Policy Association, Banga received the Foreign Policy Association Medal in 2012.