Citi exec awaits top MasterCard role
(26 June 2009 – Global) Citigroup’s top executive in Asia has left for a position at MasterCard, one that puts him as next in line to the chief executive role at the card company.
Ajay Banga, 49, will leave Citigroup to become the president and chief operating officer at MasterCard, globally.
Current president and chief executive, Robert Selander, cedes his position as president to Banga, while retaining the chief executive title, MasterCard announced.
Banga is currently Citigroup’s Chief Executive Officer of Citi Asia Pacific, responsible for all of Citi’s business lines in the region including credit cards and consumer banking, institutional banking, wealth management and alternative investments.
At MasterCard, Banga, will be responsible for key business operations, while Selander will focus internally.
Banga’s role will include customer relationships globally in international and U.S. markets, products, services, marketing, technology and operations.
The company's finance, human resources, and law and franchise integrity functions will continue to report to Selander.
This is really a thoughtful step in the succession planning process, MasterCard spokesman Harvey Greisman said.
Banga joins MasterCard on August 31, 2009.
Current president and chief executive, Robert Selander, cedes his position as president to Banga, while retaining the chief executive title, MasterCard announced.
Banga is currently Citigroup’s Chief Executive Officer of Citi Asia Pacific, responsible for all of Citi’s business lines in the region including credit cards and consumer banking, institutional banking, wealth management and alternative investments.
At MasterCard, Banga, will be responsible for key business operations, while Selander will focus internally.
Banga’s role will include customer relationships globally in international and U.S. markets, products, services, marketing, technology and operations.
The company's finance, human resources, and law and franchise integrity functions will continue to report to Selander.
This is really a thoughtful step in the succession planning process, MasterCard spokesman Harvey Greisman said.
Banga joins MasterCard on August 31, 2009.
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