Mastercard has appointed Laura Cruz as president for Division North and Caribbean, effective September 1.

Cruz will be reporting to Carlo Enrico, president of Mastercard Latin America and Caribbean (LAC).

The new appointment expands Cruz’s current responsibilities as Mastercard’s division president for Mexico and Central America, and now adding the Caribbean to her remit.

Cruz has been with Mastercard for more than a decade and has transitioned through different roles in the company, including country manager for Mexico, vice-president of loyalty programs for Latin America, and executive vice-president of sales for Mexico.

Throughout her career, Cruz has been recognised as one of the 100 most powerful women in business by Forbes and Expansión news and is regarded for her work in financial inclusion by the Women Economic Forum Iberoamérica.

“The newly formed Division North and Caribbean will leverage the strengths and synergies of a diverse set of countries. On one hand, they are top tourist destinations and on the other, they’re countries that are implementing transformative strategies to expand financial inclusion,” said Enrico.

“Laura’s tenure in the company, experience, and leadership are the right combination to lead the newly formed division.”

Commenting on her appointment, Cruz said: “This is an important time for Mastercard, especially here in Latin America where technology keeps evolving at a rapid pace. I’m delighted to lead such a dynamic and diverse set of markets, who continuously remain curious and bold in their payment innovations –already securing many industry firsts–throughout this new era of the digital economy.”

Marcelo Tangioni, formerly division president for the Caribbean, will assume a new role as president for Mastercard Division Brazil.