Former Mastercard CEO, Ajay Banga nominated to Lead World Bank : US President Joe Biden said Thursday that Washington is nominating former Mastercard Chief Executive Ajay Banga to lead the World Bank, after its current chief David Malpass announced plans to step down early. The development lender has just started accepting candidate nominations in a process set to run until March 29, with the bank saying that women candidates would be “strongly” encouraged.
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He would replace David Malpass, who will step down from his role this June before completing his tenure in April 2024. He was nominated for his expertise in handling global challenges including climate change.
Presently, he is serving as the vice chairman at private equity firm General Atlantic. Notably, he is the first Indian-born nominee for this role.