Former Mastercard boss Ajay Banga has been elected to lead the World Bank as it strives to help low-income countries overcome debt and combat climate change.
Mr Banga, nominated by President Joe Biden for the post, is the first-ever Indian American to head the bank.
He will replace David Malpass, who had sparked outcry by appearing to question the role of humans in climate change.
He begins his five-year term on 2 June.
Now a US citizen, Mr Banga started his career in his native India, where his father was an officer in the army. He worked at Nestle and Citigroup before joining Mastercard where he stayed for more than a decade.
