Obama appoints Mastercard CEO Ajay Banga as member of trade body

Ajay Banga President Barack Obama has announced the appointment of Mastercard CEO and chairman of the US India Business Council Ajay Banga as a member of the Advisory Committee for Trade Policy and Negotiations, a key administration position.

The White House on Thursday announced Obama's intent to appoint Banga, who is also the current chairman of the US-India Business Council (USIBC) representing more than 300 of the largest global companies investing in India, along with nominations to 5 other key administration posts.

"The talent and expertise these individuals bring to their roles will serve our nation well. I am grateful for their service, and look forward to working with them," Obama said on Thursday.

Ajaypal Singh Banga, an MBA from the Indian Institute of Management, Ahmedabad, is president and CEO of MasterCard, a position he has held since 2009.

He is a member of the board of directors of MasterCard and The Dow Chemical Company, vice chairman of The Business Council, member of the executive committee of the Business Roundtable, member of the Council on Foreign Relations, and member of the International Business Council of the World Economic Forum.

Prior to joining MasterCard, he held various senior management roles with Citigroup from 1996 until his departure in 2009, he served as CEO of Citigroup Asia Pacific.

Banga began his career at Nestle India, where he served in various sales and management roles from 1981 to 1994. He then served as director for marketing and business development at PepsiCo Restaurants International India from 1994 to 1996.

He received a BA degree from Stephen's College, Delhi University and an MBA from the Indian Institute of Management Ahmedabad.

The Obama administration has now over two dozen Indian origin Americans serving in key jobs.