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General Atlantic appoints Vice Chairman

Private equity firm General Atlantic has appointed Ajay Banga as Vice Chairman. In this role, Banga will advise on strategic matters for the firm, its investment teams and its portfolio of more than 165 growth companies around the world.

Banga is a specialist in technology, data and financial services, with a long track record of developing commercially sustainable social impact and innovating for inclusion. Over the course of his career, he has developed and executed major international growth strategies and has served as an advisor to governments, companies, and organisations of all kinds, and advocated for partnerships and systems that deliver on profit, as well as purpose. 
 
He joins General Atlantic after 12 years at Mastercard, including more than a decade as President and CEO, and most recently serving as Executive Chairman. During his tenure at Mastercard, he drove its transformation, repositioning it from a payments network solely focused on serving banks to a technology and data services company focused on connecting people, governments and businesses of all kinds to the digital economy. He expanded the business into new markets globally, acquiring and integrating new companies and products, more than tripling its revenue and overseeing an increase of 16X in its market cap.
 
Bill Ford, Chairman and CEO of General Atlantic, says: “We could not be more thrilled to have Ajay joining our firm at this very exciting moment for global growth investing. I have long respected Ajay’s global perspective, his focus on the long term and his leadership as a champion for innovation. Our portfolio companies, capital partners and firm will benefit tremendously from Ajay’s diverse experience and insights.”
 
Banga says: “Today’s entrepreneurs are currently building some of the most exciting solutions and companies in the financial, technology, healthcare and consumer sectors, and embedding in them new approaches to tackling some of the biggest societal and environmental issues of our time. I look forward to helping them scale and deliver impact as a member of the General Atlantic team, itself a true partner to high-growth businesses.”
 
Banga will continue to serve as a member of the Advisory Board for BeyondNetZero, General Atlantic’s climate venture that invests in high-growth companies that are developing innovative climate solutions.

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