Nu COO Lahrech Steps Down, Adding to Turnover Atop Fintech

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.

Lahrech will maintain a role at Sao Paulo-based Nu as permanent observer on the board’s audit and risk committee, and he’ll advise the company on credit strategy, the company said Tuesday in a filing. Chief Executive Officer David Velez will absorb his duties.