- Nubank CEO David Vélez and BNY CEO Robin Vince were appointed to both OpenAI's nonprofit and for-profit boards, expanding the board to 10 members [1] - Board chair Bret Taylor called the pair "exceptional leaders who have used technology to reshape financial services and expand opportunity at global scale" [2] - OpenAI confidentially filed a draft S-1 registration statement with the SEC in June, with Goldman Sachs, Morgan Stanley, and JPMorgan leading the deal [3] - Vélez built Nubank into Latin America's largest digital bank with over 135 million customers; Vince has led BNY since 2022 after 26 years at Goldman Sachs
[4] OpenAI on July 21 appointed David Vélez, the founder and CEO of Nubank, and Robin Vince, the chairman and CEO of BNY, to the boards of both the OpenAI Foundation and OpenAI Group PBC. The additions bring the company's board to 10 members and mark a deliberate effort to recruit financial-industry veterans as OpenAI moves toward a potential public listing [1].
The appointments follow OpenAI's confidential filing of a draft S-1 registration statement with the U.S. Securities and Exchange Commission in June, with Goldman Sachs, Morgan Stanley, and JPMorgan leading the deal [3]. The company's last private valuation stood at roughly $852 billion, and it has grown annualized revenue from approximately $2 billion at the end of 2023 to around $25 billion by early 2026
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[5]Vélez and Vince will serve alongside existing directors including CEO Sam Altman, board chair Bret Taylor, Quora CEO Adam D'Angelo, Sue Desmond-Hellmann, Sarah Friar, Zico Kolter, retired U.S. Army General Paul Nakasone, and Nicole Seligman [1].
Who They Are #
David Vélez founded Nubank in 2013 and built it into Latin America's largest digital bank, now serving more than 135 million customers. Before Nubank, he held roles at Sequoia Capital and in investment banking. He also co-leads a philanthropic platform focused on democratic governance and education [4].
Robin Vince became CEO of BNY — the 240-year-old financial services institution formerly known as Bank of New York Mellon — in 2022, after spending 26 years at Goldman Sachs in positions spanning risk, treasury, and operations. Under his leadership, BNY has emphasized AI and data investments as part of a broader modernization push [4].
Both executives now sit on two boards simultaneously: the OpenAI Foundation, the nonprofit entity that retains a controlling stake, and OpenAI Group PBC, the public benefit corporation that houses the company's commercial operations [1].
Why Financial Expertise Matters Now #
The selection of two sitting bank CEOs is a clear signal about OpenAI's priorities as it navigates its transition from a nonprofit-controlled capped-profit structure toward a conventional public benefit corporation. Both appointees bring the governance experience and capital-markets fluency that public-company boards demand [2].
OpenAI completed a recapitalization in October 2025 that solidified the OpenAI Foundation as a nonprofit with a controlling stake in the for-profit business. The dual-board structure means any new directors must serve on both entities, aligning incentives across the mission-driven foundation and the commercial arm [1].
The company's confidential S-1 filing in June set the stage for what would be one of the largest technology IPOs in history. At an $852 billion valuation, OpenAI would debut at a market capitalization rivaling the largest publicly traded companies [3] [5].
Board Composition #
With Vélez and Vince, the full 10-member board now consists of: Bret Taylor (chair), Sam Altman (CEO), Adam D'Angelo (Quora CEO), Sue Desmond-Hellmann, Sarah Friar, Zico Kolter, Paul M. Nakasone, Nicole Seligman, David Vélez, and Robin Vince [1].
The board has been overhauled since the November 2023 crisis that saw Altman briefly ousted. Taylor, a former Salesforce co-CEO, took over as chair during the restructuring. The current composition reflects a mix of AI research expertise (Kolter, D'Angelo), national security experience (Nakasone), legal and governance backgrounds (Seligman, Desmond-Hellmann, Friar), and now deep financial-services leadership [1] [4].
What's Next #
OpenAI has not confirmed a specific IPO timeline, but reporting from multiple outlets has pointed to a potential listing in late 2026 or early 2027. Goldman Sachs, Morgan Stanley, and JPMorgan are leading the offering [3].
The company's rapid revenue growth — roughly 12.5x over two years — has made it a centerpiece of investor interest in the AI sector, though profitability remains a concern. The board additions suggest OpenAI is building the governance infrastructure to withstand the scrutiny that comes with public markets [5].
Companies mentioned #
Further sources #
[[1] OpenAI official announcement: David Vélez and Robin Vince join the boards of th… ↗](https://openai.com/index/david-velez-robin-vince-join-openai-boards/)
[[2] CNBC: OpenAI appoints two new members to board of directors ↗](https://www.cnbc.com/2026/07/21/openai-appoints-two-new-members-to-board-of-directors.html)
[[3] Yahoo Finance: OpenAI confidentially files for IPO with SEC ↗](https://finance.yahoo.com/markets/stocks/articles/openai-confidentially-files-ipo-sec-223341186.html)
[[4] StartupHub.ai: OpenAI Adds Nubank & BNY Leaders to Boards ↗](https://www.startuphub.ai/ai-news/artificial-intelligence/2026/openai-adds-nubank-bny-leaders-to-boards)
[[5] Quartz: OpenAI adds Nubank and BNY CEOs to board ahead of IPO ↗](https://qz.com/openai-board-david-velez-robin-vince-ipo-072226)
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