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Biden to Nominate Former Mastercard Executive Ajay Banga to Lead World Bank
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wsj.comPresident Biden intends to nominate Ajay Banga, the former chief executive officer of Mastercard Inc., to serve as president of the World Bank, moving swiftly to fill a vacancy atop an institution the U.S. is pushing to overhaul.
As the largest shareholder in the World Bank, the U.S. typically selects the leader of the institution, a post that doesn’t require Senate confirmation, though the bank’s board will need to officially appoint Mr. Banga. The board of the World Bank said on Wednesday it would begin accepting nominees before interviewing a shortlist of candidates, with the aim of selecting a new leader by early May. It couldn’t be determined if any other country will submit a nominee.
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