XP Founder to Step Down as CEO, Putting Tech Head in Spotlight
- Chief Technology Officer Maffra named to replace Benchimol
- Changes to be effective May, two decades after firm’s creation
This article is for subscribers only.
After helping turn XP Inc. into Brazil’s largest brokerage over the past two decades, Guilherme Benchimol is seeking to replay the role of an industry disrupter by naming his 36-year-old head of tech as his successor.
XP said Friday Thiago Maffra, the company’s chief technology officer, will replace Benchimol as chief executive officer beginning May 12. Maffra, who started his career as a trader, joined XP in 2015, according to a statement.