New York, June 3, 2026, 04:15 (EDT)
- Nu Holdings shares ended Tuesday at $11.93, down 8.16%. The stock stayed under pressure after the company announced a new CFO and BofA cut its rating.
- Rob Livingston, who used to work at Visa, is set to take over as chief financial officer on July 13. Current CFO Guilherme Lago will stay on as an advisor until Aug. 31.
- The stock’s next hurdle is if investors move on from the leadership change and pay attention to growth, credit quality and how things play out in Brazil and Mexico.
Nu Holdings Ltd. shares open Wednesday after dropping hard on Tuesday when Nubank said Rob Livingston, who spent years at Visa, will be the next CFO. The same day, BofA Securities downgraded the stock to Underperform, saying it expects the shares to lag its coverage group.
Timing is important here. The NYSE hadn’t started regular trading in New York yet. June 3 is a scheduled trading day. The next U.S. stock market holiday isn’t until Juneteenth on June 19. Core trading on the NYSE is set for 9:30 a.m. to 4 p.m. ET.
Nu shares finished Tuesday at $11.93, off 8.16%, hovering near 12-month lows. Early data put the company’s value close to $57 billion. The drop looked notable as broader markets held up, with the decline appearing tied to Nu itself rather than the wider index.
Livingston is set to step in as Nu’s finance chief on July 13, the company said, replacing Lago. Lago will move to a special adviser role and remain with the company through Aug. 31. Livingston comes from Visa, where he served as chief financial officer for North America. He will head up Nu’s global finance division, managing everything from capital planning to liquidity and investor relations.
Nu said this shift does not affect its operating model, risk appetite or long-term plans. Investors wanted reassurance on this point since they’ve been debating how quickly the digital lender can boost credit while holding the line on standards.
Nubank CEO David Velez said the company isn’t shifting priorities, pointing to growth in core markets, AI, and tight control on international moves. Lago called it the “right moment to step down.” Livingston said he’ll focus on “optimizing capital allocation.” Business Wire
Nu’s top management change comes less than three weeks after first-quarter earnings. Nu said its customer base topped 135 million, with revenue over $5 billion for the first time. Net income hit $871 million and return on equity was 29%. Return on equity tracks profit made on shareholder money.
Velez kept the focus on artificial intelligence, saying Nu is “rebuilding banking around AI” and leaning on its models to boost credit limits “with resilience, not just speed.” Nu International That’s the story for growth. The company is setting higher expectations, too.
Nu’s annual report points to strong competition. The company names Itaú Unibanco, Banco Bradesco and Banco Santander Brasil as rivals, along with other firms in consumer tech and financial services. Those big banks still hold funding scale and regulatory power in Brazil.
But there’s a clear risk. In Q1, Nu’s 15-to-90-day non-performing loan ratio climbed to 5.0%, an increase of 89 basis points from the previous quarter. Credit loss allowances also went up 33% from the last quarter to $1.79 billion. If that usual seasonal bump doesn’t recede, or if credit growth in Brazil and Mexico slows at the same time, bringing in a new CFO won’t stop the stock from falling on its own.
Wednesday’s session will likely focus on whether shares stay above Tuesday’s low and how new analyst calls describe the CFO change—whether as normal succession or as another reason to worry about credit controls. That could shape sentiment before the company reports new numbers.
