Transitioning from a Military Background to Becoming Acquainted with Ajay Banga, Former Unilever Chairman

Ajay Banga, the former CEO of Mastercard, is set to make history as the first Asian president of the World Bank, taking over from outgoing president David Malpass on June 2. The World Bank’s 25-member executive board confirmed this decision, highlighting Banga as the “face of change” for the global development lender.

Banga, who was born in India and later became a naturalized US citizen, has a strong background in finance and development. His five-year tenure as president will be crucial in shaping the organization’s approach to climate change, an issue he views with utmost urgency. Banga is known for his belief in the need to address climate change promptly and has ambitious plans to involve private sector players in tackling this global challenge.

Prior to his appointment as World Bank president, Banga had a successful career in various leadership roles, including leading Mastercard for over a decade. He also served on the boards of several prominent companies and organizations, showcasing his expertise in the corporate world.

Banga comes from a family with a strong business background, as his older brother, Manvinder Singh Banga, served as the CEO of Hindustan Unilever. With his financial acumen and commitment to addressing climate change, Ajay Banga is poised to make a significant impact as the new president of the World Bank. His focus on leveraging private investment to tackle climate change underscores his innovative approach to global challenges.