Ajaypal Singh "Ajay" Banga is an Indian American business executive who serves as the President of the World Bank Group, a position he was elected to on May 3, 2023, following his nomination by the Joe Biden administration in February 2023. Prior to this, Banga had a distinguished career at Mastercard, where he was President and Chief Executive Officer from July 2010 until December 31, 2020. He then served as the executive chairman of the company until his retirement on December 31, 2021.