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MasterCard announced today the appointment of Gilberto Caldart as president of its Latin America and Caribbean (LAC) business, effective August 1. Caldart, who currently heads the company’s GeoSouth Division (Argentina, Bolivia, Brazil, Chile, Paraguay, Peru and Uruguay) for MasterCard LAC, will report to Ann Cairns, president of MasterCard’s International Markets. He succeeds Richard Hartzell, who will take on a new role as head of MasterCard’s business with merchants and acquirers across its international markets. “Both Richard Hartzell and Gilberto Caldart have played a key role in making Latin America and the Caribbean one of our most important and fastest-growing regions, and Brazil the second largest market in the world for MasterCard,” said Ann Cairns. “I am certain that Gilberto, as the new regional head, and Richard, at the helm of our International Markets Merchant and Acquiring business, will continue to help our customers grow their business, and provide MasterCard cardholders with innovative payment products and solutions.” Caldart joined MasterCard in 2008 from Citi Brazil where he was Country Business Manager, overseeing Retail Bank, Consumer Finance and the Cards business. He spent 26 years with Citigroup in various positions in Brazil and New York. He has a Bachelor’s degree in Business Administration and Accounting and an MBA from Duke University. “I am thrilled to have the opportunity to lead one of MasterCard’s most important regions,” said Caldart. “The Latin America and Caribbean region is at the forefront of exciting new developments, and I look forward to facing the challenges ahead, and building on the excellent work Richard and the team has done.” Richard Hartzell, who led MasterCard Latin America and Caribbean since 2006, joined the company in 1993 and has held various leadership positions within the company. "I am extremely pleased to take on this expanded role, building on the past and present efforts of many people dedicated to this critical segment of our business,” said Hartzell. “Additionally, it is with great confidence that I leave the stewardship of LAC in the capable hands of Gilberto and the senior management team, knowing that they will continue to execute on MasterCard's vision of a world beyond cash."