Richard Verma, former US envoy to India, in a new role at Mastercard
Former US envoy to India, Richard Verma, has been roped in by Mastercard as Executive Vice President, Global Public Policy and Regulatory Affairs to oversee the company's public policy, regulatory affairs and litigation teams around the world.
Verma served as US Ambassador to India from 2014-2017 under President Barack Obama. Mastercard already has an Indian-American as its Chief Executive Officer.
"Rich is a proven leader with extensive experience in public policy, geopolitics, trade and international law," said CEO Ajay Banga. "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."
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.
"Excited and grateful for this new opportunity," Verms said on his new role.
Verma brings over 25 years of international experience across senior levels of business, law, diplomacy, and the military, the company said in a statement. He joins Mastercard from The Asia Group, where he served as Vice Chair and Partner.
"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," Tim Murphy, General Counsel, Mastercard to whom Verma will report in his new role.
Verma is also 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 (PhD), the Georgetown University Law Center (LLM), American University's Washington College of Law (JD), and Lehigh University (BS).