BNY and Nubank CEOs join OpenAI board, shake-up at Old National

Published July 24, 2026 3:00 PM

1 Min Read

In this week's banking news roundup:

OpenAI announces the appointments of BNY's Robin Vince and Nubank's David Velez to the boards of the OpenAI Foundation and OpenAI Group Public Benefit Corporation.
Old National Bancorp revamps its top leadership teams.
City National Bank names Lindsay Dunn executive vice president and head of personal and business banking, and more.

BNY and Nubank CEOs join OpenAI’s Foundation and Group PBC boards

The artificial intelligence company OpenAI announced on Tuesday that BNY CEO Robin Vince and Nubank CEO David Velez have joined the boards of the OpenAI Foundation and OpenAI Group Public Benefit Corporation.

Velez co-founded Nubank as a Brazilian digital-first fintech in 2013. It was conditionally approved for a U.S. de novo bank charter in January, and its Brazilian license acquisition is currently pending final approval.

Vince became the CEO of BNY, a 240-year-old national bank, in 2022. Since then, BNY has increased its investment in AI and data and sponsored cohorts of fintechs through multiple innovation labs and startup programs.

"David and Robin are exceptional leaders who have used technology to reshape financial services and expand opportunity at global scale. Their experience will be invaluable as OpenAI serves more businesses and people around the world," said Bret Taylor, chair of the OpenAI Foundation and OpenAI Group PBC boards. —Melinda Lucy

Old National shakes up its leadership

Old National Bancorp has revamped its top leadership teams, the Evansville, Indiana, firm announced on Wednesday.

The shake-up involves two changes. First, the parent company of Old National Bank added four new members to its executive leadership team: Chief Revenue Enablement Officer Joe Chasteen, Commercial Banking President Chris Doyle, Chief of Staff Annie Hills, and Corporate Banking President John Thurston.

Second, Old National has created an "Operating Group," a new subset of the leadership team focused on strategy and growth opportunities. The group will comprise eight executives, including CEO Jim Ryan, Chief Operating Officer Tim Burke, Chief Legal Officer Nick Chulos and others.

"The leadership changes we announced were more a reflection of the growth of our organization, the growth of our markets," Ryan said during the company's second-quarter earnings call. "We put some new leaders in place and wanted to recognize their contributions and their leadership for the organization." —Nathan Place

City National leadership overhaul continues with new retail chief

City National Bank named Lindsay Dunn executive vice president and head of personal and business banking.

Dunn, who joined City National in 2005 and most recently led commercial real estate banking, will now oversee the bank's branch network, personal banking and small-business teams. She replaces David Cameron, who was named chief operating officer in June.

The move is the latest in a leadership overhaul that began in 2023, when high interest rates and mounting expenses pushed the Los Angeles bank to a string of quarterly losses. Parent company Royal Bank of Canada ousted then-CEO Kelly Coffey that year, installing former Fifth Third Bancorp executives Greg Carmichael as executive chair and Howard Hammond as CEO.

The shake-up unfolded alongside regulatory penalties — including a $65 million OCC fine over risk-management deficiencies — even as City National avoided the deposit flight that felled California peers Silicon Valley Bank and First Republic. —Jasmine Ni

Fincen warns banks of student aid fraud

The Treasury Department's Financial Crimes Enforcement Network urged financial institutions to identify and report suspicious activity tied to fraud schemes targeting federal student aid programs.

The agency warned that criminal networks are using "ghost student" tactics — including stolen personal information and AI-generated documents — to impersonate students and siphon funds. "Straw students," individuals who are paid by bad actors to collect financial aid refunds in their names, have also been involved, according to Fincen.

"Every dollar stolen from Federal student aid is a dollar taken from taxpayers and deserving students," Secretary of the Treasury Scott Bessent said in a press release.

The federal agency noted that fraudulent deposits are made directly by educational institutions or by contracted intermediaries. It added in its guidance for financial institutions that associated transaction references may include the term "refund." — Jasmine Ni

Nubank to acquire Brazil bank license through acquisition

The Brazil-based digital banking company announced an agreement on Monday to acquire Banco Porto Real de Investimentos, a Rio de Janeiro-based bank founded in 1992, and its banking charter.

Pending final approval from Brazil's banking regulators, the charter acquisition will have Nubank meet the country's recent rule change requiring the company to obtain a bank license in order to keep the word "bank" in its name. The bank charter imposes no additional capital or liquidity requirements, according to the company, and Nubank's 115 million customers will not experience any front-end changes to the app.

The company has operated as a nonbank fintech in its native Brazil since its founding in 2013. Comparatively, Nubank received conditional approval for a de novo charter in the U.S. in January of this year and Nu Mexico received final approval from Mexican regulators to open as a bank earlier this month. —Melinda Lucy

Strappa to head MUFG’s global transaction banking for the Americas

Valeria "Val" Strappa was named head of global transaction banking for the Americas at Mitsubishi UFJ Financial Group, the firm announced in a July 20 press release. She will lead the next phase of growth for MUFG's business across the United States, Canada and Latin America.

Prior to her appointment, Strappa has held leadership roles at J.P. Morgan Payments as well as Citi, GE Capital and McKinsey. In her new position, she will focus on accelerating commercial growth, advancing digital modernization and strengthening collaboration to deliver the full breadth of MUFG capabilities.

"Val's strategic vision, commercial leadership and transformation experience make her the right leader to accelerate our growth in the region," Kevin Cronin, CEO of MUFG Americas, said in the release.

Headquartered in Tokyo, MUFG is one of the world's leading financial groups with approximately 2,000 locations in more than 40 countries. —Traci Parks