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This is an archive article published on June 20, 2009

MasterCard names Ajay Banga as new president

MasterCard says its new president and chief operating officer will be Ajay Banga,the former CEO of Citigroup's Asia Pacific division,beginning Aug. 31.

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MasterCard says its new president and chief operating officer will be Ajay Banga,the former CEO of Citigroup’s Asia Pacific division,beginning Aug. 31.

Banga,49,replaces Robert W. Selander as president. Selander remains CEO.

The chief operating position has been vacant since Alan J. Heuer retired at the end of 2008.

Banga joined Citi in 1996 as head of marketing and sales in India and was named to his current post in 2008. Citi said a successor will be named shortly.

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