On February 24, Indian-American Ajay Banga was felicitated by political leaders and captains of industry. Nomination as President of the World BankSaying that he is an inspired choice and a rare addition to the list of Indian-origin leaders at the helm of organizations with global impact.
President Joe Biden announced Thursday that the United States was nominating Mr. Banga to lead the World Bank, saying the business leader was uniquely equipped to lead the global institution at “this critical moment in history.” .
Praising the decision, US Treasury Secretary Janet Yellen said Banga has the right leadership and management skills, experience in emerging markets and financial expertise to lead the World Bank at a critical juncture in its history.
In a tweet, IMF Managing Director Kristalina Georgieva said, “Delighted to hear that Ajay Banga, whom I have known for many years, has been nominated as a candidate to lead the World Bank. But More than that I admire the sustainable devt, his commitment to doing good and helping the needy.”
Mr. Banga, 63, currently serves as vice chairman at General Atlantic. Before that, he was President and CEO of MasterCard, is leading the company through a strategic, technological and cultural transformation. He was awarded the Padma Shri in 2016.
Michael Maybach, CEO MasterCard, said Mr. Banga is an impressive choice to lead the World Bank.
“He is a mentor, friend and first-rate leader who has worked tirelessly to bring hundreds of millions of people around the world into the digital economy. He is a man of great intelligence and character, and we look forward to his every move in the confirmation process.” Wishing you success and beyond,” he tweeted.
Salesforce CEO Marc Benioff recalled that Banga demonstrated outstanding leadership during his tenure as MasterCard CEO and always served all stakeholders.
“As a member of the B team, he inspired other CEOs to always do the right thing. Congratulations to Ajay!” He said in a tweet.
Mike Bloomberg, entrepreneur, philanthropist and founder Bloomberg News He said it was great to see Mr. Banga being nominated to lead the World Bank.
“He was a strong partner for our administration at City Hall and we have worked on other issues since then. I look forward to working with him on climate change and other important global development challenges,” he said. said
Kiran Mazumdar Shaw, CEO, Biocon, described the nomination as an excellent choice.
This will be another extraordinary addition to the list of Indian-origin leaders at the helm of organizations with global impact, said venture capitalist Kunal Bahl, co-founder of Titan Capital. It remains to be seen whether this brings hard benefits to India, but there is no question of soft power for the country.
Praising Mr. Banga’s work ethic and expertise in global finance, John Chambers, Chairman Emeritus, CISCO, said he was confident he was the right person for the job.
Trinamool Congress spokesperson Derek O’Brien tweeted, “What a champion you are, Ajay Banga… From the Kolkata branch manager of @nestle, dreaming up the Maggi Quiz three decades ago!”
Over the course of his career, Mr. Banga has become a global leader in technology, data, financial services and innovation for inclusion. He is Honorary Chairman of the International Chamber of Commerce, serving as Chairman from 2020-2022. He is also the chairman of Exor and an independent director at Temasek.
He became an advisor to General Atlantic’s climate-focused fund, BeyondNetZero, at its launch in 2021. He previously served on the boards of the American Red Cross, Kraft Foods and Dow Inc.
Mr. Banga, who has worked closely with Vice President Kamala Harris as co-chair of the Partnership for Central America, is a member of the Trilateral Commission, a founding trustee of the US-India Strategic Partnership Forum, and a former member. National Committee on US-China Relations, and Chairman Emeritus of the American India Foundation.
He is co-founder of the Cyber Readiness Institute, vice chair of the Economic Club of New York and has served as a member of President Barack Obama’s Commission on Enhancing National Cyber Security. He is a past member of the US President’s Advisory Committee on Trade Policy and Negotiations.
He was awarded the Foreign Policy Association Medal in 2012, the Ellis Island Medal of Honor in 2019 and the Business Council for International Understanding’s Global Leadership Award, and the Distinguished Friends of the Singapore Public Service Star in 2021.