Heber Cardoso is the New CEO of MS Holdings, Created to Merge MSBank, MSBB Money and CloudBreak

CURITIBA, Brazil, Oct. 5, 2021 /PRNewswire/ — MSBank, MSBB Money and CloudBreak merge to establish a conglomerate of integrated international…

CURITIBA, Brazil, Oct. 5, 2021 /PRNewswire/ — MSBank, MSBB Money and CloudBreak merge to establish a conglomerate of integrated international financial solutions and services: MS Holdings. The new company announces Heber Cardoso as CEO, while founder Marcelo Sacomori leads the transition, taking over as chairman of the company’s Board of Directors in December. The holding is created with revenues of over R$ 100 million, equity to finance its expansion, more than 2,000 corporates and over 1 million individual customers.

Cardoso takes place at MS Holdings to lead a new expansion for the company, the first to offer integrated international financial services, with multi-currency accounts, global and simplified solutions in just one place, such as foreign exchange, derivatives, hedging and financing for Foreign Trade, following the new rules of the Central Bank of Brazil and the National Monetary Council established in CMN Resolution No. 4,942, which expand and make more flexible the services of exchange and international transfers, consolidating rules for these services. The growth plan expands the business lines and sectors of activity, with the company’s entry into Agribusiness, which accounts for around 30% of the Brazilian GDP, is responsible for 40% of the country’s exports.

Cardoso brings more than 20 years of international experience and expertise in Finance, Technology and Agribusiness, with a strong activity in Sales and Risk Management. With a degree in Business Administration and International Business from Park University, where he also specialized in Business Management, he worked at institutions such as former INTLCFStone (now StoneX), ED&F Man Capital Markets and HedgePoint Global Markets.

MSBANK is the largest foreign exchange bank in Brazil in monthly transactions. The institution has 5 million direct and indirect customers, accumulating transactions of more than R$ 3 billion per month. Founded in 2013, MSBANK specializes in personalized foreign exchange operations and services.

MSBB MONEY is a financial entity incorporated in the UK. Its Global Payments customers benefit from a digital platform for managing multi-currency accounts and international payments. The London-based business is authorized by the Financial Conduct Authority as an E-MONEY Institution.

CloudBreak is a multi-currency digital wallet aimed at international remittances and payments for individuals. The digital platform offers services at the lowest cost in the market.

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SOURCE MSBank