By Brazil Stock Guide – Nu Holdings Ltd. (NYSE: NU) named Livia Chanes chief executive officer for Latin America, expanding her responsibilities beyond Brazil to include the digital bank’s operations in Mexico and Colombia. She will remain CEO of Nubank Brazil.
Under the new structure, Mexico country manager Armando Herrera and Colombia country manager Marcela Torres will report directly to Chanes. Both executives will retain operational autonomy in their respective markets.
Chanes joined Nubank six years ago as vice president of products and has led the Brazilian business since early 2024. Her expanded mandate is intended to apply lessons from Nubank’s largest market to its growing operations elsewhere in the region.
“We are already the largest private financial institution by number of customers in Brazil, but we know that we still have enormous opportunities to grow across our different segments,” Chanes said in a statement. “That remains our priority as a company. Every lesson learned will be used for the benefit of every person we serve in the region.”
The leadership change comes as Nubank steps up its international expansion. The company’s Mexican operation, which has 15 million customers, reached break-even in the first quarter, meaning it stopped generating losses.
In Colombia, Nubank has accumulated 11 trillion pesos in deposits and plans to invest $130 million in the market in 2026.
“Unifying the region under Livia’s leadership is a natural step,” founder and global CEO David Vélez said. “The same barriers that limited financial inclusion in Brazil still persist across Latin America. We now have the tools, the team and the track record needed to overcome them more quickly.”
The reorganization gives Chanes strategic oversight of Nubank’s three main Latin American markets while preserving local management in Mexico and Colombia.
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