Thiago Maffra takes over as CEO of XP

On May 12th, established executive Thiago Maffra took over as the CEO of leading Brazilian investment company, XP Inc. The day also marked XP's 20-year anniversary as it continues its journey to become a one-stop-shop for financial services.

Mr. Maffra started at XP in 2015 as a trader, but soon joined the company’s technology department, eventually becoming its Chief Technology Officer (CTO) and leading its cutting-edge digital transformation process. Now, as CEO, his priorities also include the expansion of XP’s products and services portfolio, as well as its organizational culture.

Moreover, after adding a credit card division to its business portfolio, the company has entered the collateralized credit segment and, according to Mr. Maffra, XP is set to offer a 100% digital account to customers still in 2021. 

These new business divisions represent an R$800 billion share of the banking market and, according to Mr. Maffra, XP is seeking its piece of the pie.

The acquisition of companies may also be a new interest for XP - considering its former CEO and new executive chairman Guilherme Benchimol focused on the organic growth of the company - as XP was reportedly studying the purchase of Credit Suisse in Brazil.

“We are looking for companies that complement our performance spectrum. From client’s portfolios to technology companies which make sense regarding the development of new products.”, stated Mr. Maffra.