OpenAI adds Nubank founder and BNY Mellon CEO to board of directors amid IPO preparations

OpenAI Adds Nubank Founder, BNY CEO to its Governing Boards

OpenAI is bringing two prominent financial industry leaders into its governance structure as the artificial intelligence company continues to expand its global commercial footprint. The company announced Tuesday that David Vélez, founder, chairman and CEO of Latin American digital banking giant Nubank, and Robin Vince, chairman and CEO of financial services firm Bank of New York Mellon, have joined the boards of both the OpenAI Foundation and OpenAI Group PBC. The appointments add executives with decades of experience in financial services, technology adoption, and corporate governance at a time when OpenAI is rapidly growing its enterprise business and broadening the reach of its AI products. "David and Robin are exceptional leaders who have used technology to reshape financial services and expand opportunity at global scale," OpenAI Board Chair Bret Taylor said in a statement. "Their experience will be invaluable as OpenAI serves more businesses and people around the world." The move reflects OpenAI's continued effort to diversify its board with executives from industries that are increasingly adopting generative AI. Financial institutions have emerged as some of the largest enterprise customers for AI tools, using the technology across customer service, software development, compliance, fraud detection, and back-office operations. About Velez and Vince Vélez founded Nubank in 2013 after becoming frustrated with Brazil's traditional banking system. Under his leadership, the company has grown into one of the world's largest digital banking platforms, serving more than 135 million customers across Latin America while expanding into the U.S. market following conditional approval to establish a national bank. Before launching Nubank, Vélez worked in investment banking and private equity roles at Goldman Sachs, Morgan Stanley, and General Atlantic before becoming a partner at Sequoia Capital focused on Latin America. He also co-leads philanthropic organization VélezReyes+ alongside his wife, Mariel Reyes. Vince brings more than three decades of financial industry experience. Since becoming CEO of BNY in 2022, he has overseen a modernization strategy centered on artificial intelligence, data infrastructure and operational transformation. Prior to joining BNY, Vince spent 26 years at Goldman Sachs, where he served in several senior leadership positions, including chief risk officer, treasurer and CEO of Goldman Sachs International Bank. In separate statements, both executives emphasized AI's potential to expand economic opportunity while stressing the importance of responsible deployment and governance. "Technology can be a powerful force for expanding access and opportunity when it is built around people's needs and grounded in trust. AI has the potential to help individuals, businesses and entire economies do more, and I look forward to contributing to OpenAI's efforts to bring useful AI to everyone," said Vélez. "AI can be the ultimate capacity creator, expanding what people and institutions are capable of. Realizing AI's promise requires creativity, strong governance, and responsible deployment, and I'm honored to join the boards to contribute to OpenAI's mission," Vince added. The announcement comes as OpenAI continues to deepen relationships with major enterprises, governments and financial institutions while placing greater emphasis on governance as AI systems become more deeply embedded in the global economy. Bringing leaders who have managed highly regulated global organizations could help the company navigate the operational, regulatory and strategic challenges that accompany its next phase of growth. This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

OpenAI adds two banking executives to board - WSJ By Investing.com

Investing.com -- OpenAI announced Tuesday that it is adding two financial industry leaders to its board of directors as the artificial intelligence company prepares for a potential public listing, according to the Wall Street Journal. David Vélez, founder and chief executive of Brazilian digital services firm Nubank, and Robin Vince, chief executive of Bank of New York Mellon, will join the board. Vince will chair the audit committee. The additions bring public-market experience to OpenAI's board as the company considers going public potentially later this year. Both executives are established figures in the financial sector. The board expansion follows OpenAI's efforts to strengthen its corporate governance. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.