SAN FRANCISCO -- Visa (NYSE:V) announced that it has appointed Andrew Torre, a 20-year Visa veteran, as President of Value-Added Services (VAS). Mr. Torre will replace Antony Cahill who was recently named Regional President and Chief Executive Officer for Visa’s European operations, subject to regulatory approval. Mr. Torre will report to Visa Chief Executive Officer Ryan McInerney and join the Company’s global leadership team. He will be based in San Francisco and take on this role effective immediately.

In his new role, Mr. Torre will be responsible for designing, developing and delivering Visa’s VAS portfolio of products and solutions. Visa’s VAS business has rapidly grown into a $9B global business that has delivered annualized revenue growth of 20% since 2021.

Since 2018, Mr. Torre has served as Visa’s Regional President for Central Eastern Europe, Middle East and Africa (CEMEA). During this time, he has overseen significant revenue growth, strengthened engagements with clients and partners, and expanded Visa’s regional presence to 23 offices, serving more than 1,800 clients in 86 markets.

Mr. Torre originally joined Visa in 2002 in San Francisco where he held global roles in product, strategy and pricing. He became Visa’s Group Country Manager in Russia in 2013 and later served as Group Country Manager for Sub-Saharan Africa before assuming his role leading CEMEA. Earlier in his career, Mr. Torre spent 12 years in the banking industry.

“Andrew’s experience leading Visa’s fastest-growing region, his client-first approach, and his deep commercial expertise make him the standout choice to build on Antony’s success and continue our strong Value-Added Services momentum,” said Mr. McInerney. “We are in an optimal position to scale a high-growth and attractive margin VAS business rapidly, and we could not be more confident in Andrew’s ability to make the most of this extraordinary opportunity.”

An internal search for Mr. Torre’s replacement has begun, and the Company expects to name his successor shortly.