Gautam Subodh Kaji was born in Bombay, India on June 15, 1941. After receiving a Bachelor of Commerce from Sydenham College of Commerce and Economics at the University of Bombay in 1961, he attended the Wharton School of Finance, University of Pennsylvania, where he received a Master of Business Administration (MBA) in 1963. Prior to his employment with the World Bank, Kaji worked in the commercial banking sector for the Bank of India in India, Hong Kong, and the United Kingdom.

Kaji began his career atthe World Bank in 1968 as a Young Professional with assignments to the Western Africa Department (WAF) and to the International Finance Corporation (IFC). He would go on to serve in numerous positions throughout the Bank, including: Loan Officer in East Africa Department, Division B (EAFDB), 1969-1972; Loan Officer in Eastern Africa Vice Presidency, Country Programs Department 1, Division 1C (EA1DC), 1972-1973; Resident Representative in East Africa Vice Presidency Resident Mission - Sudan (EAFSD), 1973-1975; Senior Loan Officer in Europe, Middle East and North Africa Vice Presidency, Country Programs Department 1, Division 1C (EM1DC), 1975-1976; Division Chief in Europe, Middle East and North Africa Vice Presidency, Country Programs Department 1, Division 1C (EM1DC), 1976-1979; Management Policy Advisor in the Office of the Vice President, Administration, Organization, and Personnel Management (AOPVP), 1979-1980; Assistant Director, Management Development and then Director of the Personnel Management Department (PMDDR), 1980-1984; Director of the East Asia and Pacific Vice Presidency, Country Programs Department (AEADR), 1984-1987; and Director of Asia Vice Presidency, Country Department 2 (AS2DR), 1987-1991. In 1991, Kaji was named the Regional Vice President of the East Asia and Pacific Vice Presidency. In 1994, Kaji was made a Managing Director of the World Bank. As Managing Director, his tasks included: oversight responsibility of the institution's programs in Asia and Africa; chairing the Bank-wide Operations Committee (formerly the Loan Committee); co-chairing the Private Sector Development Group; and serving as a member of the Executive Committee.

Kaji left the World Bank in November 1997. He subsequently founded and served as Chairman of the Board of Directors of Centennial Group, Inc., a strategic advisory firm specializing in emerging market economies. Between 2007 and 2010, he served as a Director of Swarna Dwipa Co LLP, Singapore: a fund management company he co-founded. Kaji has also served on theBoard of Directors for numerous companies and charitable organizations.