Nubank Taps Brazil’s Ex-Central Bank Chief Campos Neto to Accelerate Global Expansion

Nubank announced on May 6, 2025, that Roberto Campos Neto will join as Vice Chairman and Global Public Policy Head. He will start July 1 after a mandatory six-month cooling-off period set by Brazilian law.

He will report directly to founder and CEO David Vélez and join the Nu Holdings board as a non-independent member. He will lead Nubank’s international expansion, engage global regulators, and oversee economic and risk analysis for Latin America.

In 2024, Nubank ended with 114.2 million customers, up 21.6 percent year-on-year, driven mainly by its Brazilian operations. The bank reported US$1.97 billion in net profit, twice the figure posted in 2023, and US$11.5 billion in annual revenue.

Its fourth-quarter profit reached US$552.6 million, up from US$360.9 million in Q4 2023. In April, Nubank’s Mexican unit secured a multiple-bank license, pending final regulatory steps, to broaden its product range.

The unit holds 10 million customers and US$4.5 billion in deposits, reflecting high local demand for digital banking. Nubank targets Colombia next and eyes Chile and Peru for further growth.

Competition with traditional banks and fintech challengers has intensified across Latin America. Campos Neto’s regulatory acumen should guide Nu through varied local frameworks.

Campos Neto Joins Nubank

Campos Neto led the Central Bank from 2019 to December 2024, overseeing Pix, Open Finance, and the Drex digital-real pilot. He earned “Central Bank of the Year” in 2024 from Central Banking Magazine and “Best Central Banker” from LatinFinance three times.

Before leading the Central Bank, he spent over twenty years at Santander, Claritas Investments, and Bozano Simonsen. He had signaled interest in the private sector, fielding offers from banks, asset managers, and the São Paulo municipal government.

He will advise product adaptation across markets, support compliance with diverse licensing regimes, and foster ties with other central banks. His deep network should ease regulatory approvals and strengthen Nu’s risk governance. Industry observers see this hire as a sign of Nubank’s push to become a top global fintech.

Nubank shares closed at US$12.44 on the NYSE, down 0.24 percent that day but up 17 percent year-to-date. The stock values Nu Holdings at about US$59.9 billion in market capitalization.