Nubank appoints Eric Young as new CTO as Vitor Olivier steps down

SÃO PAULO - Nubank, a digital financial services platform with a market capitalization of $57.5 billion, announced Tuesday the appointment of Eric Young as its new Chief Technology Officer. According to InvestingPro data, the company has demonstrated strong performance with 32.9% revenue growth over the last twelve months. Young will replace Vitor Olivier, who is leaving the company in September after more than ten years to pursue entrepreneurial ventures.

Young brings over 20 years of technology leadership experience from prominent tech companies. He previously served as Senior Vice President of Engineering at Snap Inc., where he led teams scaling infrastructure for hundreds of millions of users. Before that, he spent seven years as Vice President of Engineering at Google overseeing technical infrastructure for Search, Ads, YouTube and Google Cloud products. Young also held senior roles at Amazon for 15 years. With Nubank’s solid financial health score rated as GOOD by InvestingPro analysts, Young’s appointment comes at a crucial time for the company’s technological advancement.

In his new role, Young will report directly to Nubank founder and CEO David Vélez. He will focus on maintaining operational excellence, driving international expansion, and advancing AI technologies to support the company’s growth.

"Eric brings experience in global technology platforms serving hundreds of millions of customers," said Vélez in the press release statement.

Olivier, one of Nubank’s earliest employees, will step down in September after holding various executive positions during his decade-long tenure at the company.

Nubank currently serves over 118 million customers across Brazil, Mexico, and Colombia. The company states it uses proprietary technology to develop financial products and services with a focus on transparency and financial inclusion.

The transition comes as Nubank enters what it describes as "a new stage of maturity" with renewed focus on effectively integrating new technologies into its core products and services. InvestingPro analysis reveals multiple positive indicators for the company, including profitability expectations and strong earnings revisions. Subscribers can access additional insights and detailed financial metrics in the comprehensive Pro Research Report, available for over 1,400 US-listed companies.

In other recent news, Nu Holdings has announced several significant changes in its executive team. Youssef Lahrech, who served as president and chief operating officer, has stepped down after approximately six years in the role. CEO David Vélez will assume Lahrech’s responsibilities, aiming to enhance operational efficiency and speed. Lahrech will continue to be involved with the company as a permanent observer on the Audit and Risk Committee and as an expert advisor on strategic credit-related initiatives. Additionally, Nubank, a part of Nu Holdings, has appointed Ethan Eismann as its first Chief Design Officer. Eismann will report directly to CEO David Vélez and will oversee the global design strategy across all product lines. These developments reflect the company’s efforts to drive innovation and adapt to a dynamic financial landscape.

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