Itaú Unibanco announced the consolidation of its corporate banking and investment banking operations in Europe under a single structure in Luxembourg. The measure integrates Corporate and Investment Banking and Global Markets activities in the region, with the aim of simplifying governance, increasing efficiency and strengthening service to European and South American clients. The new platform currently serves approximately 350 European companies and more than 50 global equity and fixed income accounts.
Itaú Europe has been in operation since June 1, 2026, after obtaining the banking license and completing the merger with the former operation of the bank in Portugal. The institution is supervised by the Commission de Surveillance du Secteur Financier (CSSF) and the European Central Bank (ECB). The planned structure will bring together banking operations from Portugal and the United Kingdom in Luxembourg, in addition to wealth management businesses in the Northern Hemisphere, following the evolution of European regulatory requirements, including the implementation of CRD VI, expected in January 2027.
According to Thomas Campion, CEO of Itaú Europe, the integration of activities in Luxembourg represents an important step in the evolution of the bank's presence in Europe, reinforcing the ambition to build a reference operation in the connection between Europe and South America. The executive stated that Luxembourg offers a solid regulatory environment and a relevant position in the European financial system, allowing the expansion of operations and the extension of services to clients.
Itaú has been operating in Europe for 30 years, serving multinational companies and institutional investors with connections to South America. The European operation offers corporate credit solutions, foreign trade financing and financial advisory, and can support subsidiaries and operations of European clients in Latin America, as well as serve institutional investors in the European Union with equity, fixed income and derivatives products.
