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Jay Z, Romeo Santos, Instagram

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There is a new power player in Latin music. Jay Z's Roc Nation just launched Roc Nation Latin with Romeo Santos as its CEO. Talk about starting with a boom. 

According to Billboard, the full-service Latin division within Roc Nation will develop and cultivate Latin artist in all aspects of their careers, both in the U.S. and globally.

Santos will be co-managed by Roc Nation and his longtime manager Johnny Marines, who is president of Roc Nation Latin.

"I'm not taking for granted being managed by Roc Nation," Santos told Billboard. "They have a lot of relations. They have a certain reach that I clearly could benefit from. And dealing with Jay Z, who is an artist himself, that's great. I've always idolized Jay. We both come from the ‘hood and he gets it. So that was definitely also fundamental. But I'm really excited about giving back. This is my way of giving back."

Santos has worked very hard for all that he's accomplished and continues to feel "super hungry" to grow the industry. "I know what it takes to build a brand," the singer added.

The 34-year-old fully bilingual artist has reached unprecedented success—all the while, sticking true to his roots and never recording an English-only track. He's sold out two Yankee Stadium shows; he was named Billboard's Top Latin Artist of 2014 and 2015, and has been the top-selling Latin artist of the past five years. We can't forget his world-wide hit, "Odio," featuring Drake, where the Canadian artist even sang in Spanish.  

Roc Nation started this year with huge announcements in the Latin market. In March, they signed reggaeton superstar Yandel for an exclusive management deal.

Billboard reports that the conversation between Santos and Jay Z had been going on for nearly four years, but the timing wasn't right for the bachata singer. "I'm not superstitious, but I think the time is now," said Santos. "When they came to us with the whole CEO proposal, I said, ‘This is a win-win situation.' I always visualized myself in that position, and the way it was presented to me, I couldn't say no."

"This is a tremendous step for Roc Nation," Jay Z said in a statement. "We recognize there is a huge Latin market that is a part of global culture. We're proud and ready to enter into true partnership with an individual that intimately lives and knows that culture."