In a move to ramp up its growth and drive the evolution of payments and deliver increased value to MasterCard stakeholders in Middle East and Africa, Mastercard is doing some changes to its product and team.
Effective January 1, Michael Miebach will assume the role of chief product officer for the company, replacing Vosburg, and will be based in New York. He currently serves as president, Middle East and Africa, responsible for driving the evolution of payments and delivering increased value to MasterCard stakeholders in markets across the region.
Before joining MasterCard in 2010, Miebach held several global positions including with Barclays, where he was the managing director for Middle East and North Africa and managing director for Barclays Africa. He also held senior-level positions at Citibank, responsible for Germany, Austria, UK and Turkey.
Raghu Malhotra will become president, Middle East and Africa as of January 1. Previously overseeing Middle East and North Africa, Malhotra will now add supervision of sub-Saharan Africa and South Africa markets to his responsibilities.
Since 2000, he has led several teams across South Asia, India and the Middle East and Africa. Prior to joining MasterCard, Malhotra served in a variety of leadership roles across the consumer franchise and financial services businesses for Citigroup, American Express and ANZ Grindlays Bank.
In a statement, Ann Cairns, president, International Markets at MasterCard said: “MasterCard is focused on building a strong, relevant and impactful business across the Middle East and Africa. I am pleased that today’s appointment demonstrates our continued commitment to empowering strong leaders who can drive innovation and inclusion in a meaningful and connected way.”
According to Cairns, through the new appointments, the firm will continue to build a business that delivers to the needs of both the partner and the cardholder.