Plata Appoints Former SEC Commissioner Piwowar and Ex-Deputy Secretary of State Sullivan to Board
Technology-focused financial holding company Plata announced the appointment of Michael S. Piwowar and John J. Sullivan as independent directors, bolstering its governance and regulatory expertise as it expands into Colombia.
Wilmington, Del. – Plata, a technology-led financial holding company, has appointed Michael S. Piwowar and John J. Sullivan as independent members of its U.S. holding company board, effective August 1, 2026. The appointments are part of Plata's strategy to enhance its governance framework as it expands its operations from Mexico into Colombia.
Piwowar, a former U.S. Securities and Exchange Commission (SEC) commissioner, and Sullivan, a former U.S. Deputy Secretary of State, bring extensive expertise in global financial markets, securities regulation, and cross-border legal and national security matters. These appointments underscore Plata's focus on institutional maturity as the company grows and Navigates an evolving financial landscape.
Plata operates Banco Plata, a fully regulated bank in Mexico, and recently received authorization to begin operations in Colombia. The company serves over 4 million active users and employs more than 5,000 people. Neri Tollardo, Plata's Co-Founder, stated that Piwowar and Sullivan's experience will be instrumental in further strengthening the company's responsible approach to its operations.
Michael Piwowar's background includes service as an SEC commissioner under President Obama and as chief economist for the U.S. Senate Committee on Banking, Housing, and Urban Affairs. John Sullivan has had a long career as a diplomat and public servant, including roles as U.S. Ambassador to Russia and Deputy Secretary of State. Their combined expertise is expected to support Plata's expansion and commitment to regulatory compliance as it enters new markets.