Former Petrobras CEO Appointed Nubank Member

(Reuters, 1.Jul.2019) — Brazilian financial startup Nubank has appointed former Petroleo Brasileiro SA’s Chief Executive Ivan Monteiro as a member of its risk committee and finance consultant, it said on Monday in a statement.

Monteiro’s hiring comes at a time that Nubank is broadening its product offering beyond credit cards and also expanding from Brazil to Mexico and Argentina.

Monteiro joined Petrobras, as the oil company is known, in 2015 as chief financial officer and was tapped as CEO in June 2018. In February, he joined Brazilian food processor BRF SA as CFO, but three months later he resigned, mentioning health issues at the time.

Nubank, which has currently 7 million clients, has raised $420 million in seven financing rounds. (Reporting by Carolina Mandl; editing by Jonathan Oatis)


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