President Joe Biden announced on Thursday that the United States has nominated Ajay Banga, the former CEO of Mastercard, to serve as president of the World Bank. The nomination came just a week after current president David Malpass, a Trump nominee, announced his intention to resign early.
Banga is a Wall Street veteran who was born and raised in India as a Sikh. He is currently the vice chairman of the private equity firm General Atlantic. From 2010 to 2020, he was the president and CEO of Mastercard.
“Ajay is uniquely equipped to lead the World Bank at this critical moment in history,” Biden said in a statement. “He has spent more than three decades building and managing successful, global companies that create jobs and bring investment to developing economies, and guiding organizations through periods of fundamental change.”…