Nu México announced the appointment of Estephany Paulette Ley as the new CEO, in what will be the fourth leadership change of the digital bank since its arrival in Mexico in 2019.
Estephany Ley has more than 15 years of experience in the financial sector, she served as corporate director of retail banking at BanCoppel and has a degree in Finance and Economics from Boston University with an MBA from the Tuck School of Business at Dartmouth.
He will assume the position, replacing Armando Herrera, who arrived from Konfío in September 2025 and was responsible for completing the transformation of Nu into a bank, a process that ended on August 6. Armando Herrera will remain as senior advisor during the transition until January 2027.
The change also included the appointment of Rodrigo Kuri as president of the Board of Directors. Kuri has more than 25 years of experience in banking: he was CEO of Banamex’s retail banking business, led the commercial strategy of Banco Santander in Mexico and directed the digital transformation of Openbank in Spain. More recently he co-founded Pacto, a process automation company for the financial sector.
A transition that comes at the right time
The moment of relief is not coincidental. Armando Herrera was summoned with a specific mission: to complete the transition to a bank, ensure profitability and maintain the pace of growth.
The three objectives were met. “After successfully achieving these objectives and after careful consideration, we agreed that the time was right to start a new chapter,” said Livia Chanes, CEO of Nubank for Latin America.
Nu México’s leadership history reflects the different stages of the company: Emilio González led the landing in 2019 and the purchase of the financial company Akala; Iván Canales promoted the growth of savings with high rates between 2022 and 2025; Armando Herrera completed the banking process; and now Ley will take the helm of an operation already consolidated as a bank, with 16 million clients and the challenge of deepening its penetration in Nubank’s second largest market.
A new chapter in a very competitive market
“In this new stage, we have a unique opportunity to build on Nu’s progress as a bank and expand access to simple, fair and transparent financial services,” said Estephany Ley when announcing his appointment.
Nu México reaches this new stage in an increasingly contested market, where Revolut and Plata also accelerated their expansion, generating growing competition between fintechs converted into banks and traditional financial institutions.
