CEO of Brazilian credit card processor Cielo quits

Friday, October 14, 2016

Rômulo de Mello Dias, the CEO of Brazil's largest credit card processor Cielo, resigned from his post after eight years at the head of the company.

Dias will join Bradesco on January 2 as an executive director in charge of cards and will report to vice president Marcelo Noronha. He will also continue to serve as one of Bradesco's appointed members on Cielo's board of directors.

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Bradesco said in a release that his appointment was approved by the bank's board of directors.

"We are facing a market scenario with intense challenges and Rômulo Dias's arrival reinforces our attributes to face them," said Bradesco CEO Luiz Carlos Trabuco Cappi in the bank's statement. "His experience and knowledge of banking and cards matches the exact talent profile required for people who work with us."

Before heading Cielo, Dias was superintendent and director of Bradespar, a holding company with stakes in Bradesco's non-financial companies, between 2000 and 2006. He was then director of Bradesco BBI until 2008.

Current CEO of Alelo Brasil Eduardo Campozana Gouveia will take over as CEO of Cielo upon Dias's exit. According to a release from Cielo, he has held managerial positions at companies like Walmart Brasil, Cielo, Multiplus and Alelo Brasil.