Richard Verma appointed as Mastercard's Head of Global Public Policy

Former US Ambassador to India Richard Verma has been appointed as General Counsel and Head of Global Public Policy of Mastercard, according to an announcement by the financial services corporation

Former US Ambassador to India Richard Verma has been appointed as General Counsel and Head of Global Public Policy of Mastercard, according to an announcement by the American multinational financial services corporation.

The announcement on Thursday from Mastercard came as it appointed Tim Murphy, the company's general counsel, to the newly created position of chief administrative officer.

Mastercard said Verma, currently executive vice president for Global Public Policy and Regulatory Affairs, has been promoted to General Counsel and Head of Global Public Policy.

He will now lead the company's core legal and regulatory functions, as well as its global and regional public policy teams. Verma will also join the Mastercard's Management Committee, the media release said.

Verma, 52, served as US Ambassador to India from 2014 to 2017.

The first and only Indian American to serve in this position so far, Verma joined Mastercard in October 2020, bringing more than 25 years of international experience across senior levels of business, law, diplomacy and the military.

In just a few short months, Rich has had a true impact on our engagement with policymakers and others across the globe. We'll look to continue to tap into his extensive experience in public policy, geopolitics, trade and international law, and strong relationships to support the global move to a digital economy, said Murphy in a statement.