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Mastercard Incorporated (MA) Management Presents at RBC Global Financial Services Conference (Transcript)

Mar. 09, 2021 10:52 PM ETMastercard Incorporated (MA)
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Mastercard Incorporated (NYSE:MA) RBC Global Financial Services Conference Call March 9, 2021 12:00 PM ET

Company Participants

Ajay Banga - Executive Chairman

Conference Call Participants

David McKay - RBC Capital Markets

David McKay

Well, good afternoon, everyone and welcome to our keynote fireside chat. I'm David McKay, President and Chief Executive Officer of RBC. And I'm really pleased to be joined today by Ajay Banga, Executive Chairman of MasterCard. Ajay, it's so good to see you. Welcome to our fireside chat.

Ajay Banga

Thank you pleasure to see you as always, Dave.

David McKay

It is great to see you, albeit digitally. We didn't get to see each other around the world fairly frequently. Ajay as I was preparing for today's interview and this first time we've had a chance to do it in this forum, I was just amazed at the last 11 years you've been the CEO of MasterCard, just recently stepping in Chairman and CEO, just recently stepping into the Executive Chairman role. And I looked at your history over those 11 years. From a shareholder perspective, revenues tripled, profits quadrupled, and the share price is up almost fifteen-fold. You must have a bunch of really happy shareholders. It's amazing the stock trading, I think near high is at $375. But what I've seen you lead over the last 11 years is you've really lived multi-stakeholder capitalism before I became a real fanatic in the last two years. And I looked at the transformation that you lead inside MasterCard as a customer of MasterCard, and the innovation, the value creation, thinking about consumers -- as you always described, you're a B2B2C company. And you've even braced that model, you've innovated around that model creating enormous value. So you get the culture, how you let your employees very approachable, how you thought about the innovation quotient and then externally, whether it's helping communities, building a more inclusive society, more diverse society. As you think about supporting communities, you've walked the talk

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