Nubank tumbles over 10% as analysts point to uncertainty after CFO swap

Nu Holdings

02/06/2026 19:04

    SAO PAULO, June 2 (Reuters) - Shares in Brazilian digital lender Nubank NU.N fall some 10% on Tuesday as analysts react with surprise to a change of Chief Financial Officer, saying the move adds uncertainty to the stock.
** Nubank, listed as Nu Holdings, appointed Rob Livingston, a Visa executive, as its CFO from mid-July, replacing Guilherme Lago, who decided to step down after five years in the role.
** Analysts at Bank of America downgrade the stock to 'underperform' from 'neutral' after the move, and cut the share's price objective to $10 from $16. 
"While Livingston's financial services experience is positive, the timing of the transition adds uncertainty," analysts wrote in a note, citing a challenging credit phase in Brazil, and international expansion.
** Similarly, BTG Pactual analysts write "Livingston clearly has the necessary skills to lead Nubank's finance leadership," but note "the change adds another layer of uncertainty."
** Nubank's CEO David Velez said the short-term strategy remains the same, focused mostly on current markets - Brazil, Mexico and Colombia -while the long-term strategy is global.
** Shares fall more than 10% to around $11.6 per share in New York by early afternoon; main US stock indexes, as well as Brazilian equities benchmark Bovespa .BVSP, are up.


 (Reporting by Paula Arend Laier; Writing by Andre Romani, Editing by Natalia Siniawski)
 ((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))