Visa Reshuffles Legal Group After Scuttled Plaid Purchase (1)

Sept. 23, 2021, 3:09 PMUpdated: Sept. 23, 2021, 7:17 PM

Visa Inc. announced that its chief legal and administrative officer, Kelly Mahon Tullier, will move to the newly-created position of vice chair and chief people and administrative officer.

Julie Rottenberg, who in January succeeded Tullier as general counsel, will be promoted to executive vice president from senior vice president.

The moves, effective Oct. 1, come nine months after Visa abandoned its proposed $5.3 billion acquisition of financial technology company Plaid Inc. The merger, agreed upon last year, drew an objection from the Justice Department, which sued to block the deal on antitrust grounds.

Tullier, whose responsibilities include corporate secretary and head of global communications and corporate services, will now also “assume leadership” of the company’s people organization, Visa said in a Wednesday statement.

Rottenberg will oversee Visa’s global legal function, “expanding upon her promotion earlier this year,” the company said.

Neither Tullier or Rottenberg were immediately available to discuss their new roles at the Foster City, Calif.-based financial services company.

Visa noted that Tullier will take over duties from its outgoing chief human resources officer, Jennifer Grant, who will step down at years’ end. Tullier’s human resources portfolio will see her oversee global talent acquisition and management, employee relations and people operations, total rewards, and training and development.

In the statement, Visa CEO Alfred Kelly Jr. thanked Grant for three years of service and praised the performance of Tullier and Rottenberg.

Tullier, who joined Visa in 2014 after more than a decade in-house at Pepsico Inc., is a “trusted adviser” who can now bring her “strong business acumen” to the company’s people and talent organization, Kelly said.

She currently owns more than $7.1 million in Visa stock, according to Bloomberg data. Visa did not list Tullier as one of its five highest-paid executives for 2020, according to a proxy statement it filed for that year.

Rottenberg, a former partner at what is now Arnold & Porter Kaye Scholer, has spent the past 13 years at Visa. She was a deputy general counsel and head of U.S. litigation prior to her elevation to general counsel in January.

Rottenberg’s “deep industry expertise makes her the ideal choice to help us navigate the complex legal and compliance landscape as our business continues to evolve,” Kelly said in the company’s statement.

Visa hired Obiamaka “Obi” Madubuko, a former Greenberg Traurig partner, last year to be its chief compliance officer. She replaced Leonard Shen, who had held the role since 2014.

Visa has also made other legal additions this year.

The company confirmed its addition this month of Weil, Gotshal & Manges patent litigation counsel Tonny Lee as counsel, former Paul Hastings associate Kelsey Sullivan as an associate counsel for global regulatory affairs in June, and former Hunton Andrews Kurth associate Gregory Miller as a patent counsel in February.

Plaid, which last year recruited ex-federal financial services regulator Meredith Fuchs to be its general counsel, announced Thursday its addition of its first-ever chief privacy officer in Sheila Jambekar, who most recently was a deputy general counsel at Twilio Inc. Jambekar began her career as an associate at Morgan, Lewis & Bockius before taking other in-house roles at Franklin Templeton Investments and Zynga Inc.

(Adds more information on Visa legal hires in 11th, 14th, and 15th paragraphs.)

To contact the reporter on this story: Brian Baxter in New York at bbaxter@bloomberglaw.com

To contact the editor responsible for this story: Chris Opfer at copfer@bloomberglaw.com;
John Hughes in Washington at jhughes@bloombergindustry.com

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