Meteoric rise for the IIM Ahmedabad alum.
By The American Bazaar Staff
WASHINGTON, DC: The Maharashtra-born and India-schooled Ajaypal Singh Banga, who is President and Chief Executive Officer as well as a Board member of MasterCard for more than four years, has been entrusted with a new high-profile role: President Barack Obama has appointed him as a member of the Advisory Committee for Trade Policy and Negotiations.
Banga, who is also chairman of the US India Business Council (USIBC), has been a regular at White House receptions featuring Indian leaders and was part of the delegation that went to India with Obama. He has met Modi several times, and leads roundtable table discussions with industry leaders in India.
“The talent and expertise these individuals bring to their roles will serve our nation well. I am grateful for their service, and look forward to working with them,” Obama said on Thursday, in a statement released by the white House, announcing the appointment of Banga with several other luminaries.
Banga, who has a Bachelor of Arts degree in economics from St. Stephen’s College, Delhi University and an MBA from the Indian Institute of Management, Ahmedabad, began his career at Nestle India, where he served in various sales and management roles from 1981 to 1994.
He served as director for Marketing and Business Development at PepsiCo Restaurants International India from 1994 to 1996.
Prior to joining MasterCard, Banga spent 13 years at Citigroup from 1996 as part of the bank’s senior management in the United States and Europe, Middle East, Africa regions before becoming chairman and chief executive officer of Citi’s international global consumer group in 2005. He was also a member of Citi’s senior leadership and executive committees, according to Wikipedia.
Banga serves also on the board of Kraft Foods Inc. In addition, he is on the board of trustees of the Asia Society, a member of the Council on Foreign Relations, The Financial Services Roundtable and The Economic Club of New York, and is a fellow of the Foreign Policy Association.