Plata has appointed the former U.S. ambassador to Russia to its board of directors
The company is strengthening its corporate governance system amid its expansion and preparations for an IPO
Investors valued Plata at $5 billion / Photo: X / Bancoplatamx
Plata, a Mexican fintech startup founded by former employees of Tinkoff Bank, announced that former U.S. Ambassador to Russia John Sullivan and former acting chairman of the U.S. Securities and Exchange Commission (SEC) Michael Pivovar will join the board of directors of its U.S. holding company.
Brew and Sullivan will begin serving as independent members of the board of directors in August. These appointments are intended to strengthen the corporate governance framework necessary for building a fast-growing, regulated financial platform in the region, according to a statement from Plata.
Brewer is an economist who has worked at the Milken Institute and the White House. He previously served as a commissioner at the U.S. Securities and Exchange Commission (SEC) and served as its acting chairman in 2017. Sullivan is a former partner at the law firm Mayer Brown. Since the 1990s, he has held a number of high-ranking positions in the U.S. government, including serving as U.S. Ambassador to Russia.
Context
Plata is a project founded by former top executives of Tinkoff Bank—Danila Anisimov, Alexander Bro, and Neri Tollardo. Tinkoff founder Oleg Tinkov and Baring Vostok founder Michael Calvi are among the startup’s early investors.
In April 2026, Plata raised $405 million, and investors valued the entire company at $5 billion. This made Plata the most valuable private digital bank in Latin America, according to Bloomberg.
The company plans to go public and this year hired former investment banker Marcos Kantt as its chief financial officer. A year ago, Oleg Tinkov stated that Plata could hold an IPO within two years with a valuation of $10 billion.
This article was AI-translated and verified by a human editor
