Nu México, the Brazilian digital bank operating as a licensed banking institution in Mexico, has named Estephany Paulette Ley as its new chief executive officer. She replaces Armando Herrera, who completed the company's transition from fintech to bank and will remain as senior advisor to the CEO until January 2027. The company also appointed Rodrigo Kuri as chairman of the board of directors, strengthening its leadership for the next phase of expansion.
A Planned Leadership Transition
Armando Herrera joined Nu México from Konfío in September 2025 with a specific mandate to complete the banking license conversion, secure profitability, and maintain growth. According to the company, those objectives were met, and the leadership change was agreed after careful consideration. Livia Chanes, CEO of Nubank for Latin America, said the company considered it the right moment to begin a new chapter.
New CEO's Background
Estephany Paulette Ley brings more than 15 years of financial and banking experience to the role, most recently serving as corporate director of retail banking at BanCoppel. At Grupo Coppel, she led consumer financial services, more than 1,300 banking operations, digital channels, marketing, and business intelligence. She holds a degree in Finance and Economics from Boston University and an MBA from the Tuck School of Business at Dartmouth.
Board and Governance Strengthening
Rodrigo Kuri, with more than 25 years of retail and commercial banking experience, becomes chairman of the board of directors. He previously served as CEO of the retail banking business at Banamex, deputy general director at Banco Santander, and leader of digital transformation at Openbank in Spain. He also co-founded Pacto, a process automation company for the financial sector, and Besant Capital, a real estate and technology investment platform.
A Track Record of Evolving Leadership
Nu México's leadership history reflects the company's changing priorities since its 2019 entry into the country. Emilio González led the initial launch and the acquisition of Akala, while Iván Canales drove savings growth with elevated rates between 2022 and 2025. Herrera then completed the banking process, and Ley now takes charge of a consolidated operation and the challenge of deepening penetration in Nubank's second-largest market.
Strategic Timing and Market Competition
The transition follows Nu México's formal operation as a multiple banking institution in August, a milestone that capped its evolution from fintech to bank. The company recently reported 16 million clients in Mexico, positioning it as one of the country's largest digital financial institutions. Nu now faces intensifying competition from Revolut and Plata, which are also accelerating their expansion in the Mexican market.
A New Vision for Financial Inclusion
Ley said she assumes the CEO role with enthusiasm, humility, and a deep sense of purpose. She noted that Nu has transformed the relationship millions of people in Mexico have with the financial system. She added that the company now has an opportunity to expand access to simple, fair, and transparent financial services.
With these appointments, Nu México is aligning its executive structure to support its next phase as a consolidated digital bank, and Ley's promotion also expands female representation in the top tier of Mexican banking. The combination of a new CEO and a board chairman signals a focus on operational execution, strategic oversight, and institutional relationships. As digital banking competition intensifies, Nu's ability to deepen customer relationships and expand accessible financial services will define its next chapter.