Citigroup’s top Asia executive, Ajay Banga, is joining credit card network MasterCard, becoming the firm’s President and Chief Operating Officer.

MasterCard announced the appointment on Friday. Banga, 49, will report to the company’s chief executive officer Robert W. Selander.

Citigroup announced earlier on Friday that Banga, chief executive officer of Citigroup Asia Pacific, would leave to pursue another opportunity. He served at Citigroup for the past 13 years. A replacement will be named shortly, the company said.

Ajay's experience in diverse industries and diverse geographies will reinforce and strengthen our global competencies as electronic payments continue to accelerate worldwide. With his expertise and leadership, Selander said in a released statement, we hope to capture even more of the significant global payments opportunity.

Prior to his time at Citigroup, Banga spent 13 years at Nestle India and two years with PepsiCo.

Citigroup