Brazil Brokerage XP Goes on Hiring Binge to Beef Up Before IPO
- XP Investimentos seeks growth of 50% in deal mandates in 2020
- Plan to be disclosed in upcoming roadshow for U.S. share sale
Photographer: Dado Galdieri/Bloomberg
This article is for subscribers only.
Brazil’s biggest equity broker-dealer firm, XP Investimentos SA, is seeking to increase the headcount in its investment-banking unit by more than 50% as it prepares for an initial public offering in the U.S., according to people with direct knowledge of the situation.
XP is planning to reach about 100 employees in the unit, which integrates debt and equity capital markets, structured finance as well as M&A advisory services. That’s up from about 65 before the start of the hiring spree, which will add between six to eight senior executives and about 30 junior positions, the people said, asking not to be named as the plan isn’t public yet.