Ever since 2016, when the then Itaú CEO – and now chairman of the board – Roberto Setubal agreed to buy into then privately held XP Investimentos (now Nasdaq-listed XP Inc), there had been an unsustainably quiet approach to their increasingly fierce competition.
In June, Itaú bared its teeth. Brazil’s biggest private-sector bank launched an advertising campaign that seeks to retain its mass-affluent clients within its own investment platform by alleging an inherent conflict of interest between the autonomous agents that bring the majority of assets under custody (AuC) to the XP Inc platform.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
