Ajay Banga

Vice Chairman, General Atlantic
Former Chief Executive Officer & Executive Chairman, Mastercard

Ajay Banga is the Vice Chairman of General Atlantic, a leading global growth equity firm.  Previously, Ajay served as Chief Executive Officer and Executive Chairman of Mastercard for a combined 12 years.

Ajay is a co-founder of The Cyber Readiness Institute, chairman of the International Chamber of Commerce and a trustee of the United States Council for International Business. Ajay is a founding trustee of the U.S.-India Strategic Partnership Forum, a member of the U.S.-India CEO Forum and is Chairman Emeritus of the American India Foundation. He served as a member of President Obama’s Commission on Enhancing National Cybersecurity. He is a past member of the U.S. President’s Advisory Committee for Trade Policy and Negotiations. 

He was awarded the Padma Shri Award by the President of India in 2016, the Ellis Island Medal of Honor in 2019 and the Business Council for International Understanding’s Global Leadership Award. He is a fellow of the Foreign Policy Association and was awarded the Foreign Policy Association Medal in 2012. 

Ajay is a member of the board of overseers of the Weill Cornell Medical College. In addition, Ajay serves as a director of Dow Inc. and is a member of its compensation and governance committees. 

Prior to Mastercard, Ajay served as chief executive officer of Citigroup Asia Pacific. During his career at Citigroup, he held a variety of senior management roles in the United States, Asia Pacific, Europe, Middle East and Africa. He also oversaw the company’s efforts in microfinance. 

Ajay began his career at Nestlé, India, where for 13 years he worked on assignments spanning sales, marketing and general management. He also spent two years with PepsiCo, where he was instrumental in launching its fast food franchises in India as the economy liberalized. 

He is a graduate of Delhi University and the Indian Institute of Management, Ahmedabad.

While he was the CEO of Mastercard, Ajay initiated a supportive partnership with The HOW Institute. To date, almost 100 Mastercard employees have participated in The HOW Institute’s NXT-GEN Fellowship for Moral Leadership.

“Decency is the foundation for the kinds of relationships that drive respect, innovation, urgency and enterprise-wide thinking. It’s what supports and inspires people to believe that they can trust you and that you will have your hand on their back and not in their face.  This lets them know that they can bring their full hearts and minds to all that they do.”