OpenAI Adds Nubank and BNY Chiefs to Its Boards Amid IPO Preparations

In July 2026, it emerged that OpenAI has added two heads of major banks to its nonprofit and for-profit boards: Nubank founder David Vélez and BNY CEO Robin Vince. The Next Web links the appointments to the company's preparations for a possible initial public offering.

Who Was Appointed

OpenAI has put two sitting banking executives on both of its boards. David Vélez is the founder and CEO of Nubank, the largest digital bank in Latin America, which listed on the NYSE in December 2021. Robin Vince is CEO of BNY (Bank of New York Mellon), one of the oldest banks in the US and one of the world's largest custodians of assets.

• David Vélez — founder and CEO of Nubank
• Robin Vince — CEO of BNY (Bank of New York Mellon)
• Both were appointed to two boards at once: the nonprofit (controlling) board and the for-profit board
• OpenAI remains a private company
• The move is being read as preparation for an IPO

Why Bankers, Not Technologists

A company getting ready to face public investors needs banking experience on its board. Both appointees run institutions of global scale: Nubank, according to the company itself, serves more than 100 million customers, and BNY administers assets worth tens of trillions of dollars. That is exactly the profile responsible for financial discipline, relationships with institutional investors, compliance, and dealings with regulators.

"This is the kind of Wall Street ballast a company assembles when it is preparing to face public investors,"

The Next Web writes.

For OpenAI, which until recently was primarily a research lab, this changes the kind of people in the room: from engineers and scientists to financiers who know how to take companies through a stock exchange listing.

Is OpenAI Preparing for an IPO?

OpenAI has not officially announced a stock market listing and remains a private company, but the makeup of the new board points in that direction. In 2025, OpenAI restructured: its commercial arm became a public benefit corporation (PBC), while the nonprofit retained control. Appointing people with public-market experience to both boards at once strengthens the assumption that the company is building a governance framework for the public market.

At the same time, OpenAI has named no dates, offering size, or valuation in connection with an IPO. So far there are only personnel signals, not filed documents.

What This Means

Putting two banking heavyweights on the boards is managerial preparation for OpenAI's next stage of maturity. Even without an official announcement, the market reads such appointments as a sign that the company will sooner or later go to public investors.

Frequently Asked Questions

Has OpenAI already gone public?

No. As of July 2026, OpenAI remains a private company and has not officially announced a share offering. Appointing bankers to the boards is only an indirect signal of preparation.

Who is David Vélez?

David Vélez is the founder and CEO of Nubank, the largest digital bank in Latin America. Nubank held its IPO on the NYSE in December 2021.

What is BNY, the bank Robin Vince leads?

BNY (formerly Bank of New York Mellon) is one of the oldest banks in the US and one of the world's largest asset custodians. Robin Vince, its CEO, has joined both of OpenAI's boards.