Alex Ceballos joins Nubank as Chief Corporate Development Officer
With over 16 years of experience at Amazon, Ceballos will focus on growing the company through new business and markets, reporting to David Vélez, founder and CEO
Aug 23 , 2022
São Paulo, August 23, 2022 – Nubank, one of the world’s largest financial services platforms, today announced the appointment of US executive Alex Ceballos as Chief Corporate Development Officer. With a 16-year career at Amazon, Ceballos will play a key role in the company’s expansion strategy, focusing on the development of new business and markets, through M&As, partnerships, and strategic investments. This is a newly-created position in the company, and Ceballos will report directly to David Vélez, founder and CEO of Nu Holdings.
“Alex Ceballos brings impressive experience in supporting one of the world’s leading companies in its growth journey to enter new segments and markets. As we advance Nubank’s strategic roadmap for the next five years, Alex will strengthen our goals, processes, and execution”, says David Vélez.
“I am thrilled to join Nubank. The company enjoys phenomenal success in Brazil and throughout Latin America, truly disrupting the financial services industry with a unique business model and powerful brand. I am honored to join its incredible team and to contribute to its continued growth and success”, says Alex Ceballos.
With over 65 million customers across Brazil, Mexico, and Colombia, Nubank is continuously pursuing further growth. “We delivered record revenues and profitability in Brazil in our last quarter. We are one of the largest card players in Brazil and the #1 issuer of new credit cards in Mexico and Colombia. These results underpin the sustainability and scalability of our business model as we enter new segments and markets”, says Vélez, who founded Nubank in 2013, along with Cristina Junqueira and Edward Wible.
In Q2 22, Nubank surpassed the US$1 billion mark in Revenues, delivered an Adjusted Net Income of US$17 million, as well as Net Income in Brazil of US$13 Million for H2. The company gained 5.7 million customers in the quarter with an 80% Activity Rate and Average Revenue per Active Customer (ARPAC) of $7.8.
Along with its strong results, the company is strengthening its world-class leadership and company structure to double down on customer centricity, product scalability, and platform efficiency. At management level, Ceballos is appointed to the new position in the C-suite, as Chief Corporate Development Officer. At the Board of Directors, Nubank also recently appointed Thuan Pham, currently CTO of Coupang, as a member, to support advances in technology and platformization for global growth.
About Alex Ceballos
At Amazon, Ceballos led strategic investments, partnerships and M&A in the USA, Europe, Latin America, the Middle East, and India, and served on boards of companies invested by the e-commerce giant. Over his 16-year career at Amazon, he executed numerous key transactions and strategic partnerships and recently launched the $1 Billion Amazon Industrial Innovation Fund to focus on investments in the robotics space. Prior to working on Amazon’s growth worldwide, Ceballos led the Amazon Global Credit team, with responsibility for Amazon branded payment products globally. He started his career in Operations Management at Kraft Foods and later became an investment banker at JP Morgan. Ceballos graduated with the highest distinction from the US Military Academy at West Point with a degree in electrical and computer engineering and holds an MBA from Harvard Business School.
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