Inter&Co Launching New Strategic Advisory Board ahead of Nasdaq Listing

Rhea-AI Summary

Inter announced the formation of a Strategic Advisory Board as it prepares for its upcoming Nasdaq listing. This board, comprising international experts in various fields, aims to guide Inter in expanding its successful business model from Brazil to the U.S. Additionally, the company has appointed Santiago Stel as the new Chief Strategy & Investor Relations Officer, reinforcing its commitment to further growth beyond Latin America. With over 20 million customers and significant assets under custody, Inter remains focused on delivering diversified financial and lifestyle solutions.

Positive

• Formation of a Strategic Advisory Board to support U.S. expansion.
• Appointment of seasoned professional Santiago Stel as Chief Strategy & IR Officer.
• Strong customer base of over 20 million with substantial assets under custody.

Negative

• None.

 Advisory Board will provide strategic guidance to Inter's senior management   
Inter&Co also hired new Chief Strategy & IR Officer   

BELO HORIZONTE, Brazil, June 17, 2022 /PRNewswire/ -- Inter (B3: BIDI3, BIDI4 and BIDI11), a leading Super App offering financial and non-financial services to more than 20 million customers in Brazil, today announced the creation of a new Strategic Advisory Board ahead of the company's listing on Nasdaq next week.  

The Advisory Board is comprised of a team of international leaders who will provide expert advice on bringing Inter's successful business model from Brazil to the U.S.  It will be an important contribution for Inter&Co to fulfill its long-term vision of bringing its financial and lifestyle solutions to the world.  

João Vitor Menin, Inter's CEO, said: "We are excited to have gathered such a talented and experienced team to compose Inter&Co's Advisory Board. We brought professionals from different parts of the world, who are experts in economics, finance, communications, marketing, innovation, and organizational development. Their contributions and insights will be priceless for us to succeed in this new stage of our development. I am looking forward to working with and learning from them."  

The members of Inter&Co Advisory Board are:  

• Beatriz Garcia Perez, Organizational development, business specialist and executive coach
• João Vitor Menin, Inter&Co's CEO
• Michel Combes, CEO of Softbank Group International
• Rafaela de Oliveira Vitoria, Inter's chief economist and head of Research
• Todd Chapman, Former U.S. Ambassador to Brazil and Ecuador

Strategy & IR Officer  

Inter&Co also announced the hire of Santiago Stel as Chief Strategy & Investor Relations Officer. Santiago served as an Investment Banker for almost 10 years at Morgan Stanley based in New York, during which he was involved in several transactions involving Latam fintechs, including Inter's IPO in 2018. He will be based in Miami, where Inter just established a new office, attesting to their commitment to expanding its business vision beyond Latin America.  

Additional information    

Inter&Co welcomes the members of its newly formed Advisory Board. For more information on Inter&Co, its Advisory Board and operation, follow our social networks or visit our Investor Relations website: https://ri.bancointer.com.br/.  

About Inter&Co     

Inter&Co is the holding company of Inter Group and indirectly holds all of Banco Inter's shares. Inter evolved from a digital bank to a Super App that simplifies people's lives, where everything comes together in the same app. Inter offers a complete range of products and services in banking, credit, investments, insurance and cross-border services, in addition to a virtual mall that brings together the best retailers in Brazil and the United States. The company reached 20 million customers in June 2022, of which two million are active investors with nearly R$60 billion in assets under custody (AuC), and 3.1 million active customers at Inter Shop, surpassing R$ 1 billion in Gross Merchandise Value (GMV). As of March 31, 2022, Inter had an expanded credit portfolio of R$19.8 billion, shareholders' equity of R$8.5 billion, and R$38.5 billion in total assets. Inter's customers already have the ability to trade shares listed on US-based stock exchanges through its international trading platform hosted within the Super App. More than 50,000 accounts have been opened since the launch.  

Contacts:   
Grayling 
Lucia Domville / Fabiane Goldstein   M +1 646.824.2856 / +1 954.625.4793 
Lucia.Domville@grayling.com / Fabiane.Goldstein@grayling.com    

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SOURCE Inter

FAQ

What is the purpose of Inter's new Strategic Advisory Board?

The Strategic Advisory Board aims to provide expert guidance as Inter prepares to expand its business model from Brazil to the U.S.

Who is the newly appointed Chief Strategy & IR Officer of Inter?

Santiago Stel has been appointed as the Chief Strategy & Investor Relations Officer, bringing nearly 10 years of investment banking experience.

When is Inter's Nasdaq listing scheduled?

Inter is scheduled to list on Nasdaq next week following the announcement of the Strategic Advisory Board.

What is the significance of the Advisory Board for Inter's future?

The Advisory Board is expected to provide critical insights and strategies that will help Inter succeed in its new growth phase, particularly in the U.S. market.