dLocal appoints ex-Mastercard exec Carlos Menendez as new COO

dLocal has announced the appointment of Carlos Menendez as its new Chief Operating Officer (COO), with immediate effect. This marks a strategic expansion in the company's leadership team, which seeks to bolster its position as a leading cross-border payment platform in high-growth markets.

During a transition period, Jacobo Singer, who is currently serving as COO and Co-President, will continue to fulfil these roles while working closely with Menendez to ensure a smooth handover of responsibilities. Singer is expected to step down from his operational roles by 15 December 2024. He will continue to serve as a member of dLocal's Board of Directors thereafter.

Pedro Arnt, CEO of dLocal, expressed enthusiasm about Menendez's appointment. "We are excited to welcome Carlos as our new COO. His proven track record in scaling businesses and developing strategic partnerships will be invaluable as we continue to grow and expand our operations," said Arnt. Menendez, who has over 30 years of experience in global strategic leadership and operational management, has previously held key positions at renowned companies such as Mastercard, Citibank, and Procter & Gamble.

Menendez will report directly to Arnt. Emphasising the importance of his extensive experience, Arnt added, "Carlos is a highly respected and accomplished leader, and he's played a pivotal role in advising and scaling some of the world's most successful fintech companies."

Expressing his enthusiasm for the new role, Menendez stated, "I am honoured and excited to join dLocal as COO. The company's success in placing customers first and serving many of the largest technology companies and enterprises in the world presents a truly unique business opportunity. I am confident that my expertise in designing, building, and scaling organisations will further position dLocal to achieve great things going forward."

Singer also conveyed positive sentiments about the transition. "I am delighted about this new step for the company and looking forward to welcoming Carlos to the executive team," he said. "As I transition to focusing my efforts with dLocal as a member of the Board of Directors, I am confident that Carlos's leadership will drive continuous innovation, ensuring our customers' success and enabling global merchants to connect with billions of emerging market consumers through one seamless platform."

Eduardo Azar, Chairman of the Board of Directors, commented on Singer's contributions and the upcoming transition. "We are grateful for Jacobo's significant contributions and leadership during his time as Co-President and COO. His dedication and vision have been instrumental in dLocal's growth and success. We look forward to his continued guidance and support as a member of our Board of Directors," Azar stated.

Menendez holds a bachelor's degree from Harvard University and an MBA from Wharton School of the University of Pennsylvania. His appointment is seen as a strategic move to leverage his expertise in managing global P&Ls and leading strategic initiatives to further dLocal's mission.

With the new appointment, dLocal aims to strengthen its operational capabilities and continue its focus on providing seamless payment solutions for international companies operating in emerging markets. The company connects global enterprise merchants with billions of consumers across regions such as Africa, Asia, and Latin America.