The Indo-American businessman and former boss of Mastercard, Ajay Banga is approached to succeed Mr. David Malpass as head of the World Bank.
According to the American financial and economic daily, the Wall Street Journal, which reports the information, Mr. Ajay should replace Mr. Malpass who will leave his post as President of the World Bank Group at the end of next June.
In addition, the newspaper explains that the United States, as the largest shareholder of the World Bank, generally chooses the boss of this international financial institution.
According to the Wall Street Journal, the appointment to this position does not require confirmation by the US Senate, but the Bank’s Board of Directors must formally appoint the Bank’s boss.
Former boss of Mastercard, businessman Ajay Banga managed several successful companies around the world.
As for the American economist David Malpass, he took office at the head of the World Bank Group on April 9, 2019 for a five-year term.
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