NEW YORK – The American India Foundation (AIF), a philanthropic organization working in the U.S. and India, has appointed Ajay Banga, President and Chief Executive Officer of MasterCard, as Co-Chair of its Board of Directors, bringing immense experience and passion in U.S.-India relations and business. Mr. Banga joins current Chair and Co-Founder of AIF, Lata Krishnan as Co-Chair.
“Ajay Banga is a singular talent whose personal and professional strengths promise to catalyze AIF to a whole new level,” Ms. Krishnan remarked. “We are deeply grateful for Ajay’s friendship and look forward to his contributions in strengthening AIF’s presence in the U.S. and India.”
In addition to his role at MasterCard, Mr. Banga is a member of President Obama’s Advisory Committee for Trade Policy and Negotiations. He serves on the board of directors of the U.S.-India Business Council (USIBC), where he recently completed his tenure as its longest-serving chairman. Mr. Banga is also a member of the U.S.-India CEO Forum. He is a fellow of the Foreign Policy Association and was awarded the Foreign Policy Association Medal in 2012.
“I look forward to working with Lata and the entire AIF team as they continue to drive social and economic inclusion in India and build an even stronger bridge between the United States and India,” said Mr. Banga. “I’ve seen the impact organizations like this can have on empowering individuals to live more productive lives. With the current pace of change, it’s an exciting time to be joining this group.”
Mr. Banga serves on the Executive Committee of the Business Roundtable. He is chairman of the Financial Services Roundtable, as well as vice chairman of the Business Council. He is a member of the International Business Council of the World Economic Forum, the Council on Foreign Relations, and the Economic Club of New York. Earlier this week, Mr. Banga was selected for the Padma Shri, an auspicious award given by the President of India.
Prior to MasterCard, Mr. Banga was 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 and oversaw its efforts in microfinance.
He is a graduate of Delhi University and the Indian Institute of Management, Ahmedabad.
The American India Foundation is committed to disrupting poverty, catalyzing social and economic change in India, and building a lasting bridge between the United States and India through high-impact interventions in education, livelihoods, public health, and leadership development, with a particular emphasis on empowering girls and women to achieve gender equity. Working closely with local communities, AIF partners with NGOs to develop and test innovative solutions and with governments to create and scale sustainable impact. Founded in 2001 at the initiative of President Bill Clinton following a suggestion from Indian Prime Minister Vajpayee, AIF has impacted the lives of 2.5 million of India’s poor and aims to reach 5 million by 2018-2019.