Marqeta Hires Visa Financial SVP as New CFO

Card-issuing platform Marqeta has announced that Mike Milotich is joining the company as its new chief financial officer as of Feb. 22.

According to a Wednesday (Feb. 9) press release, Milotich held various financial leadership positions at Visa and recently served as senior vice president of investor relations and corporate finance. Additionally, he’s worked in various corporate finance jobs for over 20 years and has held leadership positions at both American Express and PayPal.

The outgoing CFO is Tripp Faix, who chose to step down to spend more time with his family after 3½ years in the job. Faix plans to stay on in an advisory role until March 31 to help with a smooth transition.

Marqeta founder Jason Gardner said it was obvious that Milotich was the right choice because of his experience in the payments field, and Milotich himself said the new job would be a strong fit.

“Having spent the last 10 years at Visa, I had a front-row seat to the rise of Marqeta and the innovations they’ve opened up globally with their modern card issuing platform,” Milotich said in the release. “After spending time with Jason and the executive team, I was impressed by both how well they’d scaled to date and the massive opportunity in global money movement that lies ahead of them.”

Marqeta’s platform has recently been certified in 39 countries, following the addition of Singapore, the Philippines and Thailand.

Related: Marqeta Adds Singapore, Philippines, Thailand to Its Global Customer Base

Marqeta is also readying to make Singapore its new Asia-Pacific regional hub, and plans to add more employees to help out the region this year.

“Marqeta is a single, global platform, allowing our customers to build once and launch anywhere,” Marqeta Chief Operating Officer Vidya Peters said at the time. “We’re constantly assessing where our customers are looking to launch, and what markets hold the most immediate potential for our technology. We’re excited to support new card programs in these new markets and to enable our customers’ global expansion ambitions throughout 2022.”