Brazilian digital bank Nubank has appointed Armando Herrera as the new CEO of its Mexican subsidiary, Nu Mexico, effective 2 September 2025.
Herrera joins Nubank from small business lending platform Konfío, where he has served as GM of financial products and payments since January 2024. Prior to this, he spent over 14 years working across several leadership roles at American Express Mexico, including chief credit officer, director of credit products, and ultimately, VP and GM of credit cards, lending and insurance products.
He succeeds Ivan Canales, a founding member of Nu Mexico, who has led the unit since 2022 after previously serving as senior director of product for Nubank’s Mexican and Colombian operations. Although stepping down from the position while on parental leave, Nubank says Canales will continue to contribute to operations, however, does not specified in what capacity.
In his new position, Herrera will focus on preparing Nu Mexico to operate as a fully licensed bank. This follows the subsidiary’s banking licence approval from Mexico’s National Banking and Securities Commission (CNBV) in April.
Nubank launched in Mexico in 2019, before introducing its signature no-fee credit card in 2020. The unit has since expanded its product suite to include personal loans, debit accounts, and savings accounts, and now serves more than 12 million customers.
Source: https://www.fintechfutures.com/
