As part of its strategic plan to evolve and develop its Caribbean structure, Mastercard announced 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, the company stated.
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 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, executives said.
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.
“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,” Tangioni said.
The expansion begins with new offices in Puerto Rico and Jamaica to be established during the first half of 2019.
Mastercard also announced that the office in Dominican Republic will be headed by Gabriel Pascual, who for five years has held regional positions within the company. He will now be based in Santo Domingo, and the full Dominican team will report to him.