Itaú Integrates its European Wholesale Banking Operations with Luxembourg Consolidation

Published: September 15, 2026

The move brings Itaú's European Corporate and Investment Banking, and Global Markets activities under one integrated platform

Luxembourg – Itaú Unibanco (“Itaú”), Brazil’s largest private sector bank and a leading Latin American financial institution, today announced the consolidation of its European wholesale banking operations in Luxembourg.

The move brings Itaú’s European Corporate and Investment Banking and Global Markets activities together under a single banking platform. The platform currently serves approximately 350 European corporates and more than 50 global equities and fixed-income accounts. This development will simplify the Group’s European structure, streamline governance and improve efficiency while maintaining client coverage across the region.

“Bringing our European wholesale banking activities together in Luxembourg marks an important step in the evolution of our European platform”, said Thomas Campion, CEO of Itaú Europe. “This strategic move signals our long-term commitment to be a leading banking services platform that connects Europe and South America. This consolidation reflects our long-term commitment to Europe and to supporting the growth ambitions of our clients across the region. It will allow us to leverage the breadth of Itaú’s expertise more effectively, deepen our client relationships and deliver a more seamless experience across our businesses.”

Itaú Europe has been fully operational since 1st June 2026, following the granting of a full banking licence and the completion of its merger with Itaú’s former Portugal-based bank. The entity is supervised by the Commission de Surveillance du Secteur Financier (CSSF) and the European Central Bank (ECB).

The planned structure will combine the Portuguese and UK banking businesses into Itaú Europe, including its existing wealth management businesses in the Northern Hemisphere, in line with evolving European regulatory requirements, including the implementation of CRD VI in January 2027.

The European platform provides clients with access to corporate and investment banking solutions, including corporate loans, trade finance and financial advisory. Through Itaú’s South American operations, the platform can also support the Latin American subsidiaries and activities of European clients. Additionally, it will serve its EU-based institutional investors base with a variety of solutions and products within the equities, fixed income and derivatives assets class notably.

“Luxembourg offers a solid regulatory environment and holds a prominent position within the European financial system, allowing us to expand our operations, grow services and offer clients an increasingly comprehensive platform,” Thomas Campion added. “By consolidating our European banking hub in Luxembourg, we now have an even more integrated structure to support our South American clients in their international strategies, while also serving European clients with interests and investments in Latam”.

Itaú has operated in Europe for 30 years, serving multinational corporations and global financial and institutional investors with connections to South America. The reorganisation will support its continued growth in the region and ambition to become the preferred banking partner for European corporations, financial and institutional investors involved in Latin American transactions, as well as the preferred global investment advisor for our Private Banking clients.