Itaú Unibanco Announces Leadership Changes in CFO Role
Itaú Unibanco, one of Brazil’s largest banking institutions, has announced a significant leadership change within its financial team. Alexsandro Broedel, who has served as Chief Financial Officer (CFO) for the past 12 years, is stepping down to join Santander Bank, where he will take over global accounting starting in early 2025. Gabriel Moura, a veteran within Itaú with 24 years at the bank, will succeed Broedel as the new CFO.
Background and Experience
Gabriel Moura’s extensive tenure at Itaú has equipped him with deep insights and expertise, making him a fitting choice for the CFO position. Moura has most recently been leading the bank’s operations in Chile, serving as CEO since early 2020 and CFO prior to that. His experience spans various critical domains such as asset management, mergers and acquisitions, investments, risk management, and finance.
In stepping up to the new role, Moura will be returning to Brazil, bringing a wealth of international experience that is expected to drive Itaú’s financial strategies forward. To fill Moura’s previous role in Chile, Itaú has appointed André Gailey, who has been managing operations in Uruguay.
Reactions from Analysts
The business community has responded to these shifts with measured optimism. Goldman Sachs highlighted the surprise element of the announcement but assured stakeholders that it wouldn’t impact the operational stability at Itaú. Similarly, analysts at XP Investimentos indicated that the change signifies continuity within Itaú’s leadership rather than a disruptive shift.
Santander’s Strategic Move
Alexsandro Broedel’s move to Santander is set to take place after a few months’ hiatus, during which he will prepare for his new responsibilities as the Chief Accounting Officer. He is slated to replace José Doncel, who will step down in March after an impressive 35-year career at Santander.
Ana Botín, Executive Chairman of Santander, emphasized Doncel’s substantial contributions beyond his professional duties, praising his dedication, precision, good humor, and passion. She noted that Doncel’s deep understanding of the bank’s business nuances has been instrumental in aiding better decision-making. Post-retirement, Doncel will continue to serve on Santander’s board, reflecting his irreplaceable value to the institution.
What This Means for Itaú and Santander
These leadership changes come at a time when both Itaú and Santander are navigating complex financial landscapes, striving to maintain their competitive edge in a rapidly evolving banking sector. The transitions within their top-tier management are watched closely by investors and stakeholders, who expect the new appointees to uphold and enhance the strategic integrity and operational efficiency of their respective institutions.
For more details on Itaú Unibanco, visit their official website.
With these strategic moves, both Itaú and Santander continue to position themselves as resilient players in the global banking industry, adapting to new challenges while leveraging the experience and expertise of seasoned professionals.
