Mastercard Grows Stronger in the Caribbean, Announces Changes and Opens New Offices
Santo Domingo, Dominican Republic | February 6 , 2019
Opening new offices in Puerto Rico and Jamaica, and boosting operations in the Dominican Republic, are part of an ambitious strategy contributing to the company’s growth plans for Latin America
Marcelo Tangioni is the new President of the Caribbean Division, reporting directly to the company’s President for Latin America
Mastercard’s decision to increase its presence in the Caribbean market reflects its commitment to building an innovative and secure payments ecosystem for the country and the region
As part of its strategic plan to evolve and develop its Caribbean structure, Mastercard announced important changes that will strengthen its presence on the islands, including expanding their offices in the Dominican Republic and opening new offices in Puerto Rico and Jamaica. This growth will promote greater agility and efficiency when providing service to clients and business partners.
Marcelo Tangioni, President of the Caribbean Division
The Caribbean, part of the Latin America Central Division until now together with markets such as Colombia, Peru, Ecuador, Bolivia, and Venezuela, will become a new independent division. This strategic decision provides greater relevance to the Caribbean region within the company’s development plans aimed at doubling operations and earnings in the region, while giving the Caribbean business team greater decision-making power locally in areas like market investment and operation expansion.
The formal announcement was made by Marcelo Tangioni, as President of the new Caribbean Division reporting directly to the company’s President for Latin America, Carlo Enrico. Tangioni stated that “this is the next step within the division’s five-year strategy, which was launched last September with the inauguration of our own offices in the Dominican Republic. In upcoming years we expect to continue expanding consistently our Caribbean presence.”
The expansion that begins with new offices in Puerto Rico and Jamaica to be established during the first half of 2019 is a clear sign of the Caribbean region’s importance to the company, which plans to continue working to build an innovative payments ecosystem offering consumers secure and convenient solutions.
Mastercard also announced that the office in Dominican Republic will be headed by Gabriel Pascual, who for five years has held important regional positions within the company. He will now be based in Santo Domingo, and the full Dominican team will report to him.
In addition, Mastercard will further strengthen its operations in the Dominican Republic with more local operations as well as offering “Mastercard Advisors” services, which join the existing areas of Sales, Market Development, Marketing and Digital Products.