Executive arrives with objective to position Elavon as a leading
acquirer in the Brazilian market by 2015
SÃO PAULO, Jul 18, 2011 (BUSINESS WIRE) --
Citi and Elavon today announced that Antonio Castilho is the new
president of Elavon in Brazil, the merchant services company created by
a joint venture between Credicard, a wholly-owned subsidiary of
Citigroup Inc. (NYSE: C), and Elavon, a wholly-owned subsidiary of U.S.
Bancorp (NYSE: USB) and leading global payments provider.
Castilho's main objective will be to position Elavon as a competitive,
leading acquirer in Brazil's fast-growing payments market by 2015.
Elavon's expertise in technology and specialized services for the
aviation, tourism, health and large retailers segments and Credicard's
market expertise will be key drivers in the company's ability to meet
this objective. At present, the company is hiring personnel and
organizing the structure of the Brazilian head office. It is estimated
that Elavon will begin operating in Brazil by the end of the year.
"Castilho brings a wealth of industry and local market knowledge to our
business in Brazil," said Mike Passilla, President & CEO of Elavon. "We
are very fortunate to have such a well-respected and proven industry
executive leading the challenge to build and grow our business in
Brazil's evolving payments market."
Widely experienced in the card issuing and acquiring segments, Castilho
previously occupied senior positions at Visanet (currently Cielo), Banco
Votorantim, in addition to Ticket and Vale Refeição. He holds a degree
in Mining Engineering from West Virginia University, in the United
States, and holds a Masters in Business Administration, from Escola
Superior de Propaganda e Marketing (ESPM) in Brazil, and a
specialization in Business Administration from Fundação Getúlio Vargas
(FGV) in Brazil. He also holds a business management course degree from
the Instituto Européen d'Administration des Affaires (Insead), in France.
Present in the Brazilian market for over 40 years, Credicard -
administrator of Citi's credit card portfolio, one of the largest credit
card issuers in the world, - is synonymous of credit cards in Brazil and
manages Diners Club International, Visa and MasterCard labels. In 2009,
the brand expanded its expertise in the country's payment means market
to engage in financing operations in Brazil, creating a complete
portfolio of credit solutions for consumers. For more information,
please visit www.credicard.com.br.
Elavon's Global Acquiring Solutions organization is a part of U.S.
Bancorp (NYSE: USB) and provides end-to-end payment processing services
to more than one million merchants in the United States, Europe, Canada,
Mexico and Puerto Rico. Elavon markets solutions including credit and
debit card processing, electronic check services, gift cards, dynamic
currency conversion, multi-currency support, and cross-border acquiring
through multiple alliance channels including financial institutions,
trade associations and third party sales agents. Elavon's suite of
solutions is tailored to meet the needs of merchants in specialized
markets such as small business, retail, hospitality/T&E, health care,
education and the public sector.
Citi, the leading global financial services company, has approximately
200 million customer accounts and does business in more than 160
countries and jurisdictions. Citi provides consumers, corporations,
governments and institutions with a broad range of financial products
and services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management. Additional information may be found at www.citigroup.com.
U.S. Bancorp (NYSE: USB), with $311 billion in assets as of March
31, 2011, is the parent company of U.S. Bank, the fifth largest
commercial bank in the United States. The company operates 3,082 banking
offices in 25 states and 5,238 ATMs and provides a comprehensive line of
banking, brokerage, insurance, investment, mortgage, trust and payment
services products to consumers, businesses and institutions. U.S.
Bancorp and its employees are dedicated to improving the communities
they serve, for which the company earned the 2011 Spirit of America
Award, the highest honor bestowed on a company by United Way.
Public Affairs - Citi Brazil/Credicard
Priscilla Cortezze, (+55) 11 4009-3818
Citi Latin America
Anthony Ingham, +1-305-347-1400
Public Affairs - Elavon
Holly Lytle, +1-678-731-5236
Public Affairs - U.S. Bank
Teri Charest, +1-612-303-0732