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Nu COO Lahrech Steps Down, Adding to Turnover Atop Fintech

Summary by Bloomberg
Nu Holdings Ltd. said Chief Operating Officer Youssef Lahrech is stepping down after more than five years, adding to a string of management changes in the upper ranks of Latin America’s standout financial technology firm.

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The exit of the executive takes place after the departures this year of the product director, Jag Duggal; the director of relations with investors

·Bogotá, Colombia
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The Nubank announced now at night that Youssef Lahrech, the bank's president and COO, is leaving the job after almost six years. The exit – the second of a senior bank executive in less than two months – created doubts between investors about the turnover in the C-suite of the red bank. Youssef, an ex-executor of the Capital One, helped draw the credit policy of Nubank – the heart of business. In March, the bank had already announced the Jang Du…

Youssef Lahrech, president and COO (Chief Operating Officer) of Nubank (NU), has left the digital bank, according to a statement sent Tuesday to the Securities and Exchange Commission (SEC).The Moroccan director had been in the company for six years and had been in charge of COO since 2020, leading credit card, loan and investment businesses in Brazil. Two years later, he became president of the company and reported directly to CEO David Vélez.

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Globo broke the news in Brazil on Tuesday, May 20, 2025.
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