The payments processor Elavon has a new chief executive.

The company, a unit of U.S. Bancorp (USB), said Wednesday it has promoted Simon Haslam to the post.

Haslam has served for two years as head of international markets for Elavon, which he joined in 2005 after holding a series of senior credit posts at Citigroup (NYSE:C) in Europe.

He succeeds Mike Passilla, who recently left the company.

"Simon's experience and passion for growth and innovation make him the best individual to lead Elavon as we continue to extend our global reach and the value we deliver to our customers," Pamela Joseph, U.S. Bancorp Payment Services vice chair, said in a press release.

Haslam, who is currently based in London, is expected to move to Elavon's Atlanta headquarters.