NEW YORK — The American India Foundation announced Jan. 26 the appointment of Ajay Banga, president and CEO of MasterCard, as co-chair of its board of directors, bringing immense experience and passion in U.S.-India relations and business, according to a statement.

Banga joins current chair and co-founder of AIF Lata Krishnan as co-chair.

In addition to his role at MasterCard, the Indian American executive 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, where he recently completed his tenure as its longest-serving chairman.

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.

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 month, Banga was selected for the Padma Shri.

Prior to MasterCard, 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.

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