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Brazil's UOL Group names ex-Bradesco director as CEO

Banco Bradesco SA director Rômulo de Mello Dias has left the bank to assume his new role as CEO of Brazilian technology firm Universo Online S/A, or UOL, which owns card issuer PagSeguro Digital Ltd., Valor Econômico reported.

Dias' appointment as CEO at UOL will be effective April 2, according to a company statement dated March 9.

The new CEO was appointed a director at Bradesco in October 2016, and was the former CEO of PagSeguro competitor Cielo SA from 2008 to 2016.

He will be part of the UOL Group's strategic committee and will report to the group's founder, Luiz Frias.

PagSeguro recently held an initial public offering that was set to generate up to $2.61 billion, with shares priced at $21.50 each. The company posted net income of 188.9 million Brazilian reais for the fourth quarter of 2017, soaring 390.6% annually from a year earlier.

As of March 9, US$1 was equivalent to 3.25 Brazilian reais.