Business in the Burbs

New president named at MasterCard

June

MasterCard Inc., the Purchase-based credit card giant, named banking executive Ajay Banga as its president and chief operating officer.

Banga, currently chief executive officer of Citigroup’s Asia Pacific region, is responsible for the bank’s businesses in that part of the world, including credit cards, consumer banking and institutional banking. Robert W. Selander will remain as CEO of MasterCard but will hand over the president’s job to Banga. The 49-year-old Banga will be responsible for MasterCard’s customer relationships globally, products, services, marketing, technology and operations. He is expected to join MasterCard on Aug. 31. “This is clearly a wonderful opportunity to join a company at the forefront of advancing global commerce,” Banga said in a written statement. “From its strong technology base to its local market expertise, MasterCard has many important resources in place to make life easier for consumers and payment systems more efficient for businesses and governments around the world.”

This entry was posted on Friday, June 19th, 2009 at 4:39 pm by Jay Loomis.
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