By Jeffrey T. Lewis

SÃO PAULO--Nu Holdings Ltd. said Monday it has appointed former president of PayPal David Marcus to the online banking company's board of directors.

Nu Holdings operates under the name Nubank in Brazil.

Mr. Marcus is Chief Executive Officer and co-founder of software company Lightspark and previously led all payments and crypto efforts at Facebook owner Meta Platforms Inc., Nubank said.

Mr. Marcus's experience with financial systems and consumer technology gives him unique perspectives on both areas and will help Nubank expand into new markets and segments, said Nu CEO David Velez.

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

(END) Dow Jones Newswires

March 06, 2023 12:33 ET (17:33 GMT)

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