Ajay Singh Banga, Master-Card's New President

S.Ajay Singh Banga

Ajay Singh Banga, a Citigroup veteran, has been appointed chief executive officer of electronic payment services provider MasterCard.
"This is clearly a wonderful opportunity to join a company at the forefront of advancing global commerce," said Ajay Banga. "From its strong technology base to its local market expertise, MasterCard has many important resources in place to make life easier for consumers and payment systems more efficient for businesses and governments around the world. I look forward to joining my new colleagues and continuing the success they have so well architected over the years," he stated.

Ajay Banga, who joined Citi in 1996 as Head of Marketing and Sales in India, quickly rose through the ranks to Head of Sales, Marketing and Business Development for Europe, Middle East and Africa, based in Brussels, and was then appointed Division Executive, Consumer Bank for Central and Eastern Europe, Middle East and Africa, based in London.