Visa Inc. said Wednesday that it had promoted William Sheedy to fill the newly created position of president for North America.

Mr. Sheedy will oversee Visa's relationships with card issuers, merchants, merchant acquirers, and third-party processors in the United States and Canada.

He will report to Hans Morris, the San Francisco company's president.

Tim Wilson, the head of Visa Canada, will report to Mr. Sheedy.

He had been Visa's global head of corporate strategy and business development since October. In that role, he has "overseen strategic and new business initiatives … including marketplace intelligence, mergers and acquisition activities, and cross-regional and cross-functional strategic projects," the company said.

Mr. Sheedy has also worked on Visa's interchange strategy in the United States.

He also worked on its reorganization and its initial public offering in March.

In an interview this summer about Visa's plans for China, Mr. Sheedy said the company's restructuring meant that "we're able to look across the globe at a range of opportunities" and "rally resources" for expansion.

Joseph Saunders, Visa's chairman and chief executive officer, said in a press release that Mr. Sheedy "brings the ideal blend of payments expertise, strong client relationships, and management skills required to grow Visa's leadership position in North America."

He has a "tremendous passion for our business and our clients," Mr. Saunders said.

Mr. Sheedy, 41, joined Visa in May 1993 after three years at Ford Motor Co.'s First Nationwide Bank.

Shares of Visa slipped 2.6% Wednesday, to $73.05. They have appreciated by two-thirds since the IPO, which raised more than $19 billion.

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