Mastercard announced the appointment of Richard Verma as Executive Vice President, Global Public Policy and Regulatory Affairs where he will oversee the company’s public policy, regulatory affairs and litigation teams around the world, reporting to Tim Murphy, General Counsel, Mastercard.
Verma brings over 25 years of international experience across senior levels of business, law, diplomacy, and the military. He joins Mastercard from The Asia Group, where he served as Vice Chair and Partner.
He is the former U.S. Ambassador to India, a position he held 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 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 U.S. Ambassador to India, Rich oversaw one of the largest U.S. diplomatic missions in the world and took integral steps to deepen bilateral ties.”
“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,” said Murphy.
Ambassador Verma is a veteran of the U.S. 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), American University’s Washington College of Law (JD), and Lehigh University (BS).