March 9, 2018 / 10:48 PM / a year ago

MOVES-UOL, controlling shareholder of PagSeguro, hires former Cielo CEO

SAO PAULO, March 9 (Reuters) - Universo Online SA, the parent company of payment solutions company PagSeguro Digital Ltd, appointed on Friday as Chief Executive Officer Rômulo Dias, former CEO at Brazil's largest credit card processor, Cielo SA.

Dias will take the helm on April 2 reporting to founder Luiz Frias. "The CEO will oversee all companies controlled by UOL", PagSeguro said in a statement.

PagSeguro's initial public offering on the New York Stock Exchange in January surpassed even its bankers' expectations with its $6.8 billion valuation. Since then, the market capitalization has risen to $10 billion, half of Cielo's. (Reporting by Alberto Alerigi and Paula Laier; Writing by Tatiana Bautzer; Editing by Sandra Maler)

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