Former US Ambassador to India Richard Verma joins Mastercard as executive vice-president

Washington: Former US Ambassador to India Richard Verma has joined leading financial services company Mastercard as its executive vice-president for global public policy and regulatory affairs. In this capacity, Verma will oversee the company’s public policy, regulatory affairs and litigation teams around the world, Mastercard said in a statement. Verma joins Mastercard from capital advisory firm The Asia Group, where he served as vice-chair and partner. He was US Ambassador to India from 2014 to 2017. In addition, Verma was the Assistant Secretary of State for Legislative Affairs, where he led the department’s efforts on Capitol Hill, and was the former National Security Advisor to the Senate Majority Leader for many years. “Rich (Verma) is a proven leader with extensive experience in public policy, geopolitics, trade and international law,” said Ajay Banga, Chief Executive Officer, Mastercard. In his role as US Ambassador to India, Rich oversaw one of the largest US diplomatic missions in the world and took integral steps to deepen bilateral ties, Banga said. “With his expertise and strong relationships worldwide, Rich will be a key counselor to industry leaders and governments on the global move to a digital economy. We look forward to working closely with Rich to build on our strong foundation,” Mastercard said in its statement. Verma is a veteran of the US Air Force, and a recipient of multiple awards and decorations, including the State Department’s Distinguished Service Award. He is currently a Senior Fellow at Harvard University’s Belfer Center for Science and International Affairs and he serves on several boards and commissions, including the National Endowment for Democracy and Lehigh University. He holds degrees from Georgetown University (Ph.D.), the Georgetown University Law Center (LLM), the American University’s Washington College of Law (JD), and Lehigh University (BS).