Nubank taps Visa's Livingston as CFO amid push outside Latin America (updated)

Capital One Financial

01/06/2026 22:48

Shares down some 5% in post-market trading
Current CFO Lago says he decided to step down 
Nubank lays the ground for U.S. expansion 
Updates with share move in paragraph 2, further remarks from Velez in paragraph 7, analyst comment in paragraph 8, context in paragraphs 9-10
By Andre Romani

    SAO PAULO, June 1 (Reuters) - Brazilian digital lender Nubank NU.N has appointed Rob Livingston, a Visa V.N executive, as its new chief financial officer, Nubank said on Monday, as it prepares an expansion beyond its home region, starting with the United States.

    The company's shares, listed in New York under Nu Holdings, were down some 5% in extended trading following the announcement of Livingston's appointment, which is effective as of July 13, according to Nubank.
  
Livingston, whose last job was as CFO for North America at Visa, and who previously spent almost 20 years at Capital One COF.N, will join Nubank as the digital lender seeks regulatory approvals for its debut in the U.S. next year.   
The U.S. executive is replacing Guilherme Lago, a Brazilian who has served as CFO since 2021 and is now due to become special advisor to the management team and to the audit and risk committee, Nubank said. 
Lago told Reuters he is stepping down to explore new professional opportunities and to have more time for his personal life. In his new advisor role, he will help with initiatives, as well as with projects he had been leading, he said, without providing further details.
Chief Executive Officer David Velez told Reuters in the same interview Nubank's short-term strategy remains the same, focused mostly on current markets - Brazil, Mexico and Colombia - while the long-term strategy is global.

    "Rob brings much interesting knowledge from the international point of view," Velez said, citing his experience with business in the U.S., Canada, Asia and Europe, and his background on credit from his time at Capital One.
  

    Citi analysts said they see the appointment as part of a "broader leadership overhaul aimed at further preparing Nubank for global scale."
  

    Nubank, which has 135 million customers, in the past year appointed executives with a background in global technology companies, such as Alphabet's Google GOOGL.O, Snap SNAP.N and Airbnb ABNB.O, to roles including chief of technology and design.
  

    At the same time, Lago's exit is the latest 
    managerial departure
     since early last year, including the exit of former President and Chief Operating Officer Yousseff Lahrech in May 2025.
  

    In Monday's statement, Nubank also announced it will create a CFO position for its main market Brazil, mirroring what it already does in its other markets. Lago used to hold the role for Brazil as well.
The appointment for the new role will be announced in due course, Nubank added.

 (Reporting by Andre Romani, additional reporting by Rodrigo Campos in New York; Editing by Iñigo Alexander and Chris Reese)
 ((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))