On Wednesday, global payments solution major Mastercard confirmed that its CEO Ajay Banga has been ranked as the 6th most influential Business Person of the year by Fortune and stands at the 40th position on the Harvard Business Review’s best-performing CEOs in the world 2017 list. The company said that this recognition is an acknowledgement of the fact that Banga’s inspirational leadership has helped MasterCard transform into a leading payment technology company and steering the company to achieve its vision of a “world beyond cash”. In 2015, Banga was appointed to serve as a Member of the President’s Advisory Committee for Trade Policy and Negotiations by President Barack Obama. In 2016, he was awarded Padma Shiri by the Government of India. In case you don’t know who is Ajay Banga, here are few interesting facts about the Mastercard CEO:
1. Banga is an Indian American business executive who was born into a Saini Sikh family in Khadki, Pune, Maharashtra. Even though his family is from Jalandhar in Punjab, Banga’s father was posted in Pune.
2. His father was an army officer. Harbhajan Singh Banga retired as lieutenant-general and is a decorated army general of Indian Army. He is also the younger brother of another well-known CEO M. S. Banga.
3. The Mastercard CEO spent most of his childhood in India at places like Secunderabad, Jalandhar, Delhi, Hyderabad and in Shimla, where he finished his schooling. He is an alumnus of St Stephens College and IIM Ahmedabad.
4. Banga is the only leader of Indian origin recognised by two of the most coveted business magazines globally. He is the current president and chief executive officer of MasterCard.
5. He had previously served as MasterCard’s president and chief operating officer and was named by the Board of Directors to serve as the company’s president and chief executive officer, effective July 1, 2010. He succeeded Robert W. Selander, who had been MasterCard’s chief executive officer since March 1997.