Ex-Mastercard CEO Ajay Banga to join General Atlantic as vice chairman

Private equity firm General Atlantic on Wednesday named Ajay Banga, the former president and chief executive officer of Mastercard Inc (MA.N), as its vice chairman.

Banga will assume his responsibilities at General Atlantic, which includes advising on strategic matters, its investment teams and its portfolio, from Jan. 1 next year.

Banga, who began his career at Nestle India Ltd (NEST.NS) and took charge of Mastercard after the 2008-09 financial crisis, handed over the reins as CEO of the payments processor to insider Michael Miebach earlier this year.