Citigroup Executive Leaves for MasterCard

Citigroup Inc. lost its most senior executive in Asia to MasterCard Inc. when Ajay Banga, 49, left his executive role at Citigroup to become next in line for the title of CEO of MasterCard. On August 31, MasterCard president and CEO Robert Selander will cede his president title to Banga, who will also serve as the chief operating officer.
 
MasterCard Worldwide debuted in 2006 and has done very well since its launch, with its stock more than quadrupling in value throughout the last three years. Banga leaves behind a troubled Citigroup, which recently took $45 billion from the U.S. government as …read more