US President Joe Biden nominates Ex-Mastercard CEO Ajay Banga to head World Bank

United States President Joe Biden on Thursday nominated Indian-American business leader Ajay Banga, 63, to lead the World Bank. At present, Ajay Banga is with General Atlantic as its Vice Chairman.

"Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement.

Previously, Ajay Banga was serving as the President and CEO of



Mastercard.

"He has spent more than three decades building and managing successful, global companies that create jobs and bring investment to developing economies, and guiding organisations through periods of fundamental change," the statement said.

"He has a proven track record managing people and systems, and partnering with global leaders around the world to deliver results," Biden said.

Banga was awarded the Padma Shri in 2016.