Itaú Unibanco announced the consolidation of its European corporate and investment banking operations in Luxembourg. The change involves the transfer of some positions currently allocated in London to the new operational center in Europe. The bank did not specify how many positions would be transferred.
With the new structure, Itaú would bring together its bank in the United Kingdom, its operation in Portugal, and the Swiss bank focused on the private segment under a single entity. Itaú Europe will be this consolidated entity. The bank will continue operating in all three countries, but the British bank will gradually focus mainly on activities related to global markets.
The expectation is that the consolidation will be completed by the end of 2027, when all regulatory approvals should be secured. The process is part of Itaú's strategy to reorganize its European operations under a single structure in the Luxembourg capital.
