Itaú Unibanco Holding S.A. Announcement to the Market

Rhea-AI Summary

Itaú Unibanco announced a restructuring of its Executive Committee, effective February 2021, following the appointment of Milton Maluhy Filho as CEO. The changes aim to enhance operational efficiency and decision-making speed. Key appointments include Alexandre Zancani overseeing Auto Loans and Retail Credit, André Rodrigues managing the Retail Bank, and Flavio Souza leading Itaú BBA. The bank will also establish a new structure for Treasury and operations outside Brazil, with a CFO and CRO highlighted in the changes. Transition will be managed by the current president until February 2, 2021.

Positive

• Appointment of Milton Maluhy Filho as CEO to lead strategic changes.
• Restructuring aims to enhance operational efficiency and decision-making speed.
• Diverse leadership across key sectors such as Retail Banking, Wealth Management, and Payments.

Negative

• None.

SÃO PAULO, Dec. 11, 2020 /PRNewswire/ -- Following the nomination of Milton Maluhy Filho as its Chief Executive Officer as of February 2021, Itaú Unibanco Holding S.A. ("Itaú Unibanco or Company") announced today several changes in its Executive Committee.

The new composition aims to bring the Executive Committee even closer to the business, simplify Itaú's operation and management model and allow for greater autonomy and speed in decision making.

The new Committee will be composed by the following executives:

Alexandre Zancani will be responsible for Auto Loans, Mortgage and Consórcio, as well as Itaú Correspondente, Digital Customer Acquisition and Retail Credit and Recovery.

André Rodrigues will be responsible for the Retail Bank (Itaú Agencias, Itaú Uniclass, Personnalité, Companies, Branches Network, Individual and SME Products, CRM, Digital Channels and User Experience), Insurance and SME Loans.

André Sapoznik will be responsible for the new Payments structure, covering Credit Cards, Rede, iti and Cash Management. André will remain responsible for Operations and Customer Services and will also be in charge of Marketing.

Carlos Constantini will be responsible for WMS (Wealth Management and Services), which comprises the areas of Asset Management, Funds of Funds, Private Global and vertical of Investments, Investment Products and Investment Services and Operations.

Flavio Souza will be the Chief Executive Officer of Itaú BBA, responsible for the Commercial Banking and Corporate and Investment Bank (CIB) areas, including fixed income and equity distribution, and Research, as well as for the Corporate credit department.

Additionally, a new structure will be created to encompass Treasury, Corporate Products and Trading Desk, Macroeconomics, as well as the bank's operations in South America ex-Brazil (Argentina, Paraguay, Uruguay, Chile and Colombia). We will soon announce the person responsible for this structure.

Alexsandro Broedel will be the bank's CFO, responsible for Finance and Investor Relations, Real Estate and Procurement.

Leila Melo will be responsible for Legal, Ombudsman, Institutional Communication, Institutional Relations, Sustainability and Government Relations.

Matias Granata will be the CRO, responsible for Market, Credit and Operational Risks, Capital Management, as well as for the Corporate Security, Compliance and Anti- Money Laundering.

Ricardo Guerra will be responsible for Technology.

Sergio Fajerman will be responsible for People.

Candido Bracher will remain in the presidency until February 2, 2021 and until then he will conduct the transition with Milton Maluhy in a structured way.

ALEXSANDRO BROEDEL

Group Executive Finance Director and Head of Investor Relations

CNPJ 60.872.504/0001-23
Companhia Aberta
NIRE 35300010230

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SOURCE Itaú Unibanco Holding S.A.

FAQ

What is the significance of the Executive Committee changes at Itaú Unibanco?

The changes aim to improve the operational efficiency and decision-making speed of the bank.

Who is the new CEO of Itaú Unibanco and when did the appointment take effect?

Milton Maluhy Filho was appointed CEO effective February 2021.

What areas will André Rodrigues oversee at Itaú Unibanco?

André Rodrigues will be responsible for the Retail Bank, including various customer segments and digital channels.

What new structure is being established as part of Itaú Unibanco's changes?

A new structure will cover Treasury, Corporate Products, Trading Desk, and South America operations.

When will Candido Bracher transition leadership to Milton Maluhy Filho?

Candido Bracher will manage the transition until February 2, 2021.