XP Unveils New CEO

Posted Wednesday, April 7th 2021
XP Unveils New CEO

In March 2021, XP Inc. announced Thiago Maffra as its new CEO.

In mid-March, leading Brazilian investment management company XP Inc. announced Thiago Maffra as its new CEO, effective as of May 12, when the company celebrates its 20th year in the market. Guilherme Benchimol, founder and incumbent CEO of XP, will take on the role of Executive Chairman, to focus on the company’s long-term growth and development strategies.

 

Mr. Maffra joined XP in 2015 as a trader, but soon joined the company’s technology department, eventually becoming its Chief Technology Officer (CTO) in 2018. He led XP’s notable digital transformation process and implemented the use of cutting-edge technologies such as artificial intelligence, cloud computing and digital media within the company's operations. 

 

When Mr. Maffra first joined XP in 2015, the company had approximately 150 technology-focused professionals,however, in the first trimester of 2021, this number currently stands at over 1.500. In 2020, over 500 new industry professionals were recruited, with many coming from top-tier technology companies such as Facebook, Google, Amazon, and Mercado Livre.

 

Academically, Mr. Maffra holds a bachelor’s degree in Business Administration and Management from Insper and an MBA, also in Business Administration and Management, from Columbia University (U.S.).

 

“Maffra and I believe XP needs to fully evolve from a model in which 'technology serves the business' to one where 'technology empowers clients, while working for the business'. This type of transformation requires a new mindset, a highly collaborative approach that integrates every facet of XP – from product, design, operations and technology, curating our clients’ experience from end to end. Maffra has successfully driven this transformation thus far as CTO and will accelerate it as our CEO.”, stated incumbent CEO and founder of XP, Mr. Benchimol.