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By Reuters Staff 1 Min Read SAO PAULO (Reuters) - Itaú Unibanco Holding SA, Brazil’s largest lender by market value, has convened an extraordinary shareholder meeting on Jan. 31 to decide on spinning off its 40.5% stake in brokerage XP Inc, according to a Thursday filing. Itaú said last month that the new company would be directly owned by the bank’s shareholders. Itaú raised at least $956.4 million by selling a 4.4% stake in XP in a share offering on December 3. Itaú’s decision to divest in XP comes after its plans to take control of the major fintech group in 2017 were blocked for...

Press release content from Globe Newswire. The AP news staff was not involved in its creation. XP Inc. Acquires Riza M&A XP Inc.December 24, 2020 GMT SÃO PAULO, Brazil, Dec. 24, 2020 (GLOBE NEWSWIRE) -- XP Inc. (Nasdaq: XP). XP Inc., or XP, a leading, technology-driven platform and a trusted provider of low-fee financial products and services in Brazil, announced today the acquisition of Riza M&A, an independent financial advisory company. Riza has one of the most seasoned and respected teams in the segment, with experience in important financial institutions and active participation in so...

  Right now, XP Inc. (NASDAQ: XP) share price is at $41.09, after a 0.22% gain. Moreover, over the past month, the stock fell ...

XP Acquires Financial Advisory Company Riza M&A BRASILIA (dpa-AFX) - XP Inc. (XP), a Brazil-based technology-driven financial services platform, said Thursday it has acquired Riza M&A, an independent financial advisory company. XP noted that Riza teams is among the most seasoned and respected in the segment, with experience in important financial institutions and active participation in some of the most relevant merger and acquisition or M&A transactions over the last decades. Riza's partners, including Marco Gonçalves and André Quaresma, will join XP's M&A team. XP noted that the acquisit...

Brazil’s fintechs and digital challenger banks are making more ground than traditional firms with the central bank’s new payments system. Data from the Brazilian central bank shows that the country’s fintechs and new digital banks won the early battle for clients registering with the new, instant and free payments system Pix. Only 35% of the registrations during the first 10 days were from clients at the country’s incumbent banks. Nubank won a 24% market share alone. Despite Pix being a free service, analysts say this was an important result for Nubank, as it shows progress in the ban...