CEO

Bio Box: MasterCard CEO Ajay Banga

AP News
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Posted: May 27, 2011 10:21 AM
Bio Box: MasterCard CEO Ajay Banga

Ajay Banga

President and Chief Executive Officer

MasterCard Inc.

PERSONAL:

Age: 51, grew up in India, living in several communities because his father was a general in the army.

Education: B.A. in economics from Delhi University. Indian Institute of Management, Ahmedabad.

Family: Lives in Manhattan with his wife and two daughters.

Favorite travel destination: The 12th century temple complex at Angkor Wat, Cambodia, which he described as "the most mind blowing experience" he has had traveling.

On Diversity: What I really care for is a different way of thinking. If you recruit smart, and you build around you people who think differently, the end result, if you define "differently" wide enough, will be a diverse group of people. I have a fundamental, pathological dislike of this stupid tick-mark system of three African-Americans and two women, it just destroys my faith in the system.

On Leadership: You've got to motivate people to do something different from what they were doing in the past, which means you're making them do something they wouldn't ordinarily do. Then you need to get the hell out of the way so they can do it.

CAREER:

1981: Joined Nestle India.

1994: Joined PepsiCo. in India.

1996: Joined Citigroup Inc. Held several management roles in the United States and Europe, Middle East, and Africa regions before becoming chairman and CEO of Citi's international global consumer group in 2005. Was CEO of Citigroup's Asia Pacific division when he was tapped by MasterCard.

August 2009: Became president and chief operating officer of MasterCard.

July 2010: Took over as CEO of MasterCard.

Affiliations: Member of the board of directors of Kraft Foods Inc. and the board of trustees of the Asia Society. Member of the Council on Foreign Relations, the Financial Services Roundtable and The Economic Club of New York. He is also a fellow of the Foreign Policy Association.

COMPENSATION:

Total 2010 annual compensation valued at nearly $11.9 million, up 4 percent from the previous year, according to an Associated Press calculation of figures disclosed in a regulatory filing.