What’s new: Ling Hai, a co-president of the Asia Pacific region of Mastercard Inc., will lead international markets for the American multinational financial services company as a co-president next year. The move is part of a series of leadership changes to realign the firm’s international operations.
In this new role, Ling will “advance business strategy, sales, business development, product management and engagements with customers and regulators across Europe, Middle East, Africa, Asia and Latin America” alongside Raghu Malhotra, now president of Mastercard Middle East and Africa, the company said in an announcement last week.
The other changes within Mastercard will see Gilberto Caldart, the current president of international markets, become a vice chair of senior client partnerships and relationships. Ari Sarker, who currently co-heads the Asia Pacific business with Ling, will become the sole president. The appointments will take effect on the first day of 2022, according to the announcement.
The background: Ling joined Mastercard in 2010 as division president of Greater China. He took on the position of co-president for the Asia Pacific region in 2015. On his watch, Mastercard won approval from China’s financial regulators in 2020 to set up a bank card clearing joint venture.
Ling was also a panel speaker at the 12th Caixin Summit in November, where he spoke about how businesses should take a more nuanced approach to meeting customers’ different demands. The panel was on megatrends in Southeast Asia for global investors.
Related: Mastercard Wins Approval to Enter China’s $27 Trillion Market
Contact reporter Zhang Yukun (yukunzhang@caixin.com) and editor Bertrand Teo (bertrandteo@caixin.com)
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