Nubank has consolidated its Latin American operations under a single regional chief executive, appointing Livia Chanes to the newly created role while she continues to lead the Brazilian business. The change, announced on 15 July, means the country managers for Mexico, Armando Herrera, and Colombia, Marcela Torres, now report directly to Chanes, though both retain operational autonomy in their markets. The reorganisation comes days after Mexico’s banking regulator, the CNBV, authorised Nubank to operate as a bank in the country, a step that will make it the largest digital bank in that market.

The move reflects a strategic bet that the playbook developed in Brazil—where Nubank has built a base of 115 million clients—can be deployed more rapidly across the region if overseen by the executive who led that expansion. Since taking charge of the Brazilian operation in 2022, Chanes has presided over the addition of more than 50 million customers, the launch of mobile-phone service NuCel, and the growth of the Nu Empresas business-account unit to six million clients. David Vélez, Nubank’s founder and global CEO, described the unified leadership as a “natural step,” arguing that the same barriers to financial inclusion that the company tackled in Brazil persist throughout Latin America.

Viewed from São Paulo, the appointment formalises a structure in which the Brazilian operation serves as the group’s innovation engine and talent pool. In Mexico City, the change arrives as the local unit reaches break-even in the first quarter of 2026 and adds roughly 12,000 clients per day, bringing its total to 15 million. In Bogotá, the Colombian business manages 11 trillion pesos in deposits and has earmarked US$130 million in investment for 2026, serving five million customers. Across the three markets, Nubank now counts more than 135 million clients globally.

The next milestone for the group is the completion of the final regulatory process that will allow Nubank to begin full banking operations in Mexico, a move that will intensify competition with incumbents such as BBVA, Banamex and Santander. In Brazil, the company has outlined plans to invest R$45 billion through 2026 to broaden its product range and deepen monetisation of its existing base.