Itaú Unibanco Holding S.A.

historical series

Position and term of office
Co-chairman of the Board of Directors since 2017.

Experiences, skills and abilities
Financial sector, capital markets and other industries
He has been a Co-chairman of the Board of Directors of Itaú Unibanco Holding S.A., and was also the Chairman of this Board between 2009 and 2017. He was a Member of the Board of Directors of Unibanco in 1989, and was its CEO from 1997 to 2004. In 2004 he became the CEO of Unibanco, and held the office until 2008, year of the merger with Banco Itaú. He is the Chairman of the Board of Directors of Companhia Brasileira de Metalurgia e Mineração – CBMM and the Chairman of the Board of Directors of Alpargatas S.A. He is also the Chairman of the Board of Directors of Companhia E. Johnston de Participações and the Chairman of the Board of Directors of IUPAR – Itaú Unibanco Participações S.A. He is Vice Chairman of the Board of Directors of Brasil Warrant and partner and joint CEO of Cambuhy Investimentos. He is also a Member of the Board of Directors of TOTVS and a Member of the Board of Directors of Falconi Consultores Associados. He was the Chairman of the Board of the Federação Brasileira de Bancos (FEBRABAN) from 2017 to 2022.

ESG
He is the Chairman of the Board of Directors of Instituto Unibanco, an institution that works to raise the quality of Brazilian public education through education management. He is a Member of the Decision-Making Council and of the Board of Associates of INSPER, a non-profit institution dedicated to teaching and research, and a Member of the Board of Directors of the Fundação Orquestra Sinfônica do Estado de São Paulo (Osesp). He is also a Member of the Board of Directors of the Instituto Todos pela Saúde, which promotes the preparedness to face future health emergencies in Brazil, and a Member of the Board of Directors of Instituto Moreira Salles, dedicated to cultural promotion.

Academic background
He holds a Bachelor’s degree, magna cum laude, in Economics and History from the University of California, Los Angeles, U.S. He took the Owner/President Management (OPM) program at Harvard University in the United States.

Position and term of office
Co-chairman of the Board of Directors since 2017.

Experiences, skills and abilities
Financial sector, capital markets and other industries
He started his career at Itaú in 1980, having held several positions before he was appointed as the CEO in 1994, and was in office until April 2008. In that year, after the merger between the banks Itaú and Unibanco, he became the CEO of Itaú Unibanco Holding S.A. and was in office until 2017. He is a Member of the Board of Directors of Itaúsa S.A. since 1994, and is currently its Vice Chairman. He is also a Member of the Board of Directors of CCR S.A. He was a Member of the Board of Directors of Petrobras S.A. between 2000 and 2002 and a Member of the Board of Directors of Shell Plc. between 2017 and 2020. He was a member of the International Monetary Conference (IMC) between 1994 and 2020, of which he was the Chairman in 2015. He was the Chairman of the Federação Brasileira de Bancos (FEBRABAN) between 1997 and 2000, and the Chairman of the Board of this institution between 2011 and 2017. He was a Member of the Board of Directors of the Institute of International Finance (IIF), having served as Vice Chairman between 2003 and 2014, and he was a Member of the International Advisory Committee of the Federal Reserve Bank of New York between 2002 and 2008. In 2011, he was named Banker of the Year by Euromoney magazine, and was elected, for the second time, the best executive in Brazil in 2015.

Risk management
He was the CEO of Itaú Unibanco Holding S.A. until 2017 and, during this period, he was in charge of risk management at the executive level, chairing seven superior risk councils, such as the Superior Audit and Operational Risk Management Council, the Superior Credit Council and the Superior Risk Policy Council. In these forums, he resolved upon corporate risk policies, risk management, risk appetite and the risk culture of the Organization. He is currently a Member of the Risk and Capital Management Committee, providing support in defining, reviewing and approving the risk appetite, strategies and institutional risk policies.

ESG
He is a Member of the Board of Directors of Fundação Itaú para Educação e Cultura, an institution responsible for social initiatives aimed at education (in partnership with UNICEF and other NGOs) and at the democratization and valorization of the Brazilian culture. He is also a Member of the Board of Directors of Centro de Liderança Pública (CLP), a cross-party organization that seeks to engage society and develop public leaders to face the most urgent problems in Brazil). In 2003, he was appointed as a Member of the Conselho de Desenvolvimento Econômico e Social (CDES), and he holds this position to date.

Academic background
He holds a Bachelor’s degree in Production Engineering from Escola Politécnica da Universidade de São Paulo (USP), São Paulo, Brazil. He holds a Master’s degree in Science Engineering from Stanford University, California, United States.

Position and term of office
Non-executive Vice Chairman of the Board of Directors since 2020.

Experiences, skills and abilities
Financial sector and capital markets
He has been the Chairman of the Latin America Strategic Council since 2018, where he leads the innovation and exploration of growth opportunities throughout the region, and is the CEO of Banco Itaú Chile. He has held several positions at the Itaú Unibanco Group since 2002, including Vice President between 2010 and 2018, and CEO for Itaú Latam operations (Argentina, Chile, Paraguay and Uruguay). He started his career at Bank Credit Commercial de France (CCF), worked with fixed income and stock market at Banco de Investimentos Garantia (CSFB) and at Goldman Sachs Asset Management in New York and London, where he was a portfolio manager for Emerging Markets. He served as the Chairman of the Federação de Bancos Latino-Americanos (FELABAN) and was designated Young Global Leader by the World Economic Forum (WEF). He has also been an Alternate Member of the Board of Directors of da Itaúsa S.A. since 2011 and an Alternate Member of the Board of Directors of Dexco S.A. since 2009.

Financial inclusion and entrepreneurship
He is responsible for creating business models to the crypto market contributing to financial inclusion through digital assets. He is a consultant of Valor Capital, which invests in Blockchain and crypto asset companies. He currently serves as Vice Chairman of Humanitas 360, a non-profit organization focused on catalyzing social and civic entrepreneurship among young people. He is the Chairman of Instituto PDR, an organization aimed at investing and preparing new entrepreneurs focused on social transformation. He is also a Member of the Advisory Board of Visa Latin America and of the MIT Sloan School of Management.

Academic background
He holds a Bachelor’s degree in Mechanic Engineering from the Escola Politécnica da Universidade de São Paulo (USP), São Paulo, Brazil. He holds a Master’s degree in Business Administration from the MIT Sloan School of Management, Cambridge, Massachussetts, U.S.

Position and term of office
Non-executive Member of the Board of Directors since 2007

Experiences, skills and abilities
Financial sector and capital markets
He has been CEO and Investor Relations Officer of Itaúsa S.A. since 2015 and a Member of the Board of Directors since 2008. He has also been the Chairman of the Board of Directors of Dexco S.A. since 2021, and a Member of this Board since 2015, a Member of the Board of Directors of Alpargatas S.A. since 2017 and of Copa Energia since 2020. He served as Chairman of the Associação Nacional dos Bancos de Investimento (ANBID) between 2003 and 2008. He has been a Member of the Superior Committee for Guidance, Nomination and Ethics of the Instituto Brasileiro de Relações com Investidores (IBRI) since 2010, having been the Chairman of its Board of Directors between 2000 and 2003.  He was also a Member of the Board of Directors of Associação Brasileira das Companhias Abertas (ABRASCA) between 1999 and 2017. He is currently the Chairman of the Environmental, Social and Climate Responsibility Committee and a Member of the Disclosure and Trading Committee, the Nomination and Corporate Governance Committee, the Related Parties Committee and the Personnel Committee of Itaú Unibanco.

ESG
He has been the Chairman of the Board of Trustees of Fundação Itaú para Educação e Cultura (FIEC) and the Chairman of the Decision-Making Council of the Museu de Arte de São Paulo (MASP) since 2015.  He has been a Member of the Board of Directors of Fundação Bienal de São Paulo since 2009. He is also a Member of the Board of Directors of the Museu de Arte Moderna de São Paulo (MAM) and the Instituto de Arte Contemporânea (IAC).

Academic background
He holds Bachelor’s and Postgraduate degrees in Business Administration from the Fundação Getulio  Vargas (FGV), São Paulo, Brazil, with specialization from INSEAD, Fontainebleau, France.

Ana Lúcia de Mattos Barretto Villela (non-executive member) has been a member of our board of directors since 2018. She has held several positions at the Itaú Unibanco Group, including member of the board of directors from 1996 to 2001.

She has also been an alternate member of the board of directors of IUPAR – Itaú Unibanco Participações S.A. since 2018; vice chairman of the board of directors of Itaúsa S.A. since 2017; a member of our personnel committee of Itaú Unibanco Group since 2018; a member of our nomination and corporate governance committee since 2018; a member of our ESG committee (formerly known as social responsibility committee) since 2019; a member of the sustainability and risks committee of Itaúsa S.A. since 2021; vice chairman of the board of trustees of Fundação Itaú para Educação e Cultura since 2020; a member of the steering council of Itaú Social since 2017; a member of the advisory board of Itaú Cultural since 1995; a member of the Executive Board of Itaú Cultural since 2017; Co-Founder of AlanaLab (Maria Farinha Filmes and Flow) since 2014; founding president of Alana Foundation since 2012; CEO of Instituto Alana since 2002; a member of the Advisory Board of Instituto Brincante since 2001 and Fellow Ashoka since 2010.

Since 2018, she has been the first representative from Latin America on the Innovation Board of XPRIZE, a non-profit organization created by Peter Diamandis, who designs and manages global competitions designed to encourage the development of new technologies that may help solve some of mankind’s major challenges. Ms. Villela is a board member of Participant, an organization founded by social entrepreneur Jeff Skoll, and a leader in media and entertainment that inspires and engages the audience for social change; and she is also a member of the advisory board of the Stanford Down Syndrome Research Center since January 2022, and the advisory board of UCLA Lab School since May 2022.

She was a member of the advisory board of Akatu Institute from 2013 to 2017; a member of the advisory board of the Fairplay organization from 2015 to 2017; and a member of the advisory board of Conectas from 2003 to 2018, a member of Dexco’s Sustainability Committee from 2015 to 2018 and an alternate member of Dexco’s Board of Directors from 2018 to 2020.

She holds a bachelor’s degree in Teaching with major in School Administration and a master’s degree in Educational Psychology, both from the Pontifícia Universidade Católica de São Paulo (“PUC-SP”), São Paulo, Brazil and took graduate studies in Business Administration courses at the Fundação Armando Álvares Penteado (“FAAP”), São Paulo, Brazil (incomplete), and postgraduate studies in Administration in the Third Sector from the Fundação Getulio Vargas (“FGV”), São Paulo, Brazil (incomplete).

Position and term of office
Non-executive Member of the Board of Directors since 2003.

Experiences, skills and abilities
Financial sector and capital markets
He has held several positions at the Itaú Unibanco Group, including CEO between 2017 and 2021, Wholesale Banking Senior Vice President (“Diretor Geral”) between 2015 and 2017 and Vice President between 2004 and 2015. He has been a Member of the Board of Directors of Mastercard Incorporated since 2021. He was a member of the Board of Directors of B3 S.A. between 2009 and 2014 and of Grupo Pão de Açúcar between 1999 and 2013. He was a founding partner of the corporate bank BBA Creditanstalt, a joint venture created in 1988.

Risk management
He was the CEO of Itaú Unibanco Holding S.A. and, during that period, he was in charge of risk management at the executive level, chairing seven superior risk councils, such as the Superior Market and Liquidity Risk Management Council, the Superior Operational Risk Council and the Superior Credit Council. In these forums, he resolved upon corporate risk policies, risk management, risk appetite and the risk culture of the Organization. He is currently a Member of the Risk and Capital Management Committee, providing support in defining, reviewing and approving the risk appetite, strategies and institutional risk policies.

ESG
He is a Member of the Superior Bioeconomy Council of the Fundação Getulio Vargas (FGV) and is highly involved in initiatives for environmental protection of the Brazilian Pantanal biome. He is a Member of the Board of Directors of the Instituto Acaia, which develops educational actions aimed at preserving the Pantanal. Ha also completed his training in Climate Change offered by the Brazilian Institute of Corporate Governance (IBGC) in 2021, by means of the Chapter Zero initiative, a global network for engaging Boards in climate challenges. He is columnist at the Folha de São Paulo newspaper.

Academic background
He holds a Bachelor’s degree in Business Administration from the Fundação Getulio Vargas (FGV), São Paulo, Brazil.

João Moreira Salles (non-executive member) has been a member of our board of directors since 2017. He has held several positions at the Itaú Unibanco Group, including officer at IUPAR – Itaú Unibanco Participações S.A. since 2018, where he was a member of the board of directors from 2015 to 2018.

He is currently an officer of Brasil Warrant Administração de Bens e Empresas S.A. (“BWSA”), and CEO of BW Gestão de Investimentos (“BWGI”). He has also been a Director of Verallia, a glass packaging company listed on Euronext Paris since 2019, as well as a Director of Alpargatas S.A., where he also serves as member of its finance committee since 2022. Before joining BWSA and BWGI, he was an investment banker at J. P. Morgan Chase, in New York, U.S.

He holds a bachelor’s degree in Economics from INSPER, São Paulo, Brazil, a master’s degree in Economics and also in Finance, both from Columbia University, GSAS, New York, U.S., and a Ph.D. in Economic Theory from Universidade de São Paulo (“FEA-USP”), São Paulo, Brazil.

Cesar Nivaldo Gon (independent member) has been a member of our board of directors since 2022 and a member of our personnel committee since 2021.

He is the founder and has been the CEO of CI&T Inc. since 1995, acting as the figurehead for topics on leadership development and digital transformation.

Mr. Gon has been a member of the board of directors of Sensedia since 2012, a technology advisor to the Boticário Group since 2020, and a member of the board of directors of Fundo Patrimonial Lumina Unicamp. In 2021, he joined the boards of directors of Raia Drogasil and of Lean Enterprise Institute (LEI), headquartered in Boston.

In 2019, Mr. Gon was recognized as “Entrepreneur of the Year in Brazil” by Ernst & Young.

Mr. Gon has co-authored the book “Faster, Faster: The Dawn of Lean Digital” (2020) and is a MIT Sloan Management Review columnist.

He holds a bachelor’s degree in computer engineering and a master’s degree in computer science from the Universidade de Campinas (“UNICAMP”), Campinas, São Paulo, Brazil.

Position and term of office
Independent Member of the Board of Directors since 2015

Experiences, skills and abilities
Financial sector, capital markets and other industries
He has been the CEO of Natura & Co since 2022. He has been a Member of the Board of Directors of Companhia Brasileira de Metalurgia e Mineração (CBMM) since 2015 and of Ambev since 2021. He was the Chairman of the Board of Directors of Banco Santander (Brasil) S.A. in 2011. Between 2007 and 2011, he was the President of Febraban. He was also the CEO of Banco Santander S.A. between 2008 and 2010 and the CEO of Banco ABNAMRO/Real S.A. between 1996 and 2008. Between 2011 and the beginning of 2015, he was the CEO of Abril Comunicações S.A.

ESG
He served as Chairman of the Board of Directors of Fundação OSESP between 2012 and 2019, and of the Centro de Liderança Pública (CLP) between 2010 and 2023. He is currently a Board Member at UN Foundation (U.S.) since 2011 and a Member of the Board of Directors of Instituto Empreender Endeavor since 2008. He was President of Fundação Itaú. In 2017, he was acknowledged by the Worldfund for Education for bringing educational values to the forefront of the Brazilian national discussion. In 2012, he was honored with the Champions of the Earth award, granted by the United Nations Environmental Program (UNEP), for his contribution of over ten years to the integration of conscious environmental and social practices into the management of companies and banks.

Academic background
He holds a Bachelor’s degree in Business Administration from the Fundação Getulio Vargas (FGV), São Paulo, Brazil. He holds a Master’s degree in Business Administration from the Institute for Management Development (IMD), Lausanne, Switzerland.

Frederico Trajano Inácio Rodrigues (independent member) has been a member of our board of directors since 2020.

He has been the CEO of Magazine Luiza S.A. since 2016, having been an executive sales and marketing officer from 2010 to 2015, and a commercial officer. He was also in charge of the marketing office from 2004 to 2010. He started his career in 2000, being responsible for the E-Commerce department. He has been an effective member of the board of directors of Luizaseg Seguros S.A. since 2005 and has worked in the retail and consumer goods departments at Deutsche Bank Securities from 1998 to 1999.

He holds a bachelor’s degree in Business Administration from the Fundação Getulio Vargas (“FGV”), São Paulo, Brazil, and attended the Program for Executives from the University of California, Stanford, California, U.S.

Position and term of office
Independent Member of the Board of Directors since 2021

Experiences, skills and abilities
Financial sector, capital markets and other sectors
She is a Member of the Board of Directors and Chairwoman of the Audit Committee of CI&T Inc., and a Member of the Board of Directors of Fortbras S.A. She was a Member of the Board of Directors and Chairwoman of the Audit Committee of XP Inc. between 2019 and 2021, having served as the Chairwoman of the Audit Committee of XP Investimentos S.A. between 2018 and 2019. She was a Member of the Board of Directors of Bolsas y Mercados Españoles (BME) between 2016 and 2020. She was also a Member of the Board of Trustees of the IFRS Foundation between 2014 and 2019. She was a Member of the Board of Directors and Coordinator of the Audit Committee of Totvs S.A. between 2013 and 2017, and a Member of the Board of Directors of CPFL Energia S.A. between 2013 and 2015. She also served as Chairwoman, between 2007 and 2012, and Officer, between 2006 and 2007, of the Brazilian Securities and Exchange Commission (CVM), representing CVM at the Financial Stability Board (FSB) between 2009 and 2012. She was the Chairwoman of the Executive Committee at the International Organization of Securities Commissions (IOSCO) between 2011 and 2012.

ESG
Between 2011 and 2012 she was a Member of the International Integrated Reporting Council (IIRC), to which she also served as a Member of the Governance and Nominating Committee, until the creation of the Value Reporting Foundation. She worked at the Bolsa de Valores de São Paulo (currently B3 S.A) between 1994 and 2006, where she was involved in the set-up and was responsible for the implementation of the New Market and other corporate governance segments. She was Vice President of the Instituto Brasileiro de Governança Corporativa (IBGC) between 2004 and 2006, having been a Member of its Board of Directors between 2001 and 2006. She has been a Member of the Latin-American Roundtable on Corporate Governance (OECD) since 2000. She was a Member of the Board of Directors and Coordinator of the People, Appointment and Governance Committee at Oi S.A. between 2018 and 2023. She was a Member of the Board of Directors and Chairman of the Corporate Governance Committee of Companhia Brasileira de Distribuição S.A. between 2013 and 2017.

Academic background
She holds a Bachelor’s degree in Economics from the Faculdade de Economia, Administração, Contabilidade e Atuária of the Universidade de São Paulo (FEA-USP) São Paulo, Brazil.

Position and term of office
Independent Member of the Board of Directors since 2003

Experiences, skills and abilities
Financial sector and capital markets
He was a Member of the Board of Directors of Unibanco – União de Bancos Brasileiros S.A. between 2003 and 2008. He has been a partner of Cambuhy Investimentos Ltda. since 2011 and of Ventor Investimentos Ltda. since 2009. He was a partner of Icatu Holding S.A. between 2005 and 2014. He was a Member of the Board of Directors of Unibanco S.A. between 2003 and 2008 and an Officer of Icatu Holding S.A. between 2002 and 2003. He was also a partner and an Officer of Banco Icatu S.A. between 1993 and 2002. He was Vice Chairman of the Associação Nacional dos Bancos de Investimento (ANBID) and Vice Chairman of the Associação Nacional das Instituições de Crédito, Financiamento e Investimento (ACREFI) between 2004 and 2011. He was also Professor of the Department of Economics of the Pontifícia Universidade Católica do Rio de Janeiro between 1985 and 1990.

Risk management
He is currently the Chairman of the Risk and Capital Management Committee of Itaú Unibanco, and his previous experiences in risk management entitled him to hold the chairmanship of this Committee. His duties include supporting the Board of Directors in its activities of defining the risk appetite of the institution and supervising the risk and capital management and control activities, aiming at ensuring their adequacy to the levels of risks assumed and to the complexity of the operations. He served as Banco Central do Brasil between 1991 and 1992. The duties related to this position included managing and enforcing the monetary and foreign exchange policies, establishing the technical guidelines for managing the Brazilian international reserves and for defining policies related to payment arrangements, clearing and settlement houses and other infrastructures of the Financial Market.

ESG
He was an Officer at Banco Nacional de Desenvolvimento Econômico e Social (BNDES) between 1990 and 1991, the main instrument for enforcing the Federal Government’s investment policy, and its mission is to promote the sustainable and competitive development of the Brazilian economy, by generating jobs and reducing social and regional inequalities.

Academic background
He holds a Bachelor’s degree in Economic Sciences from the Pontifícia Universidade Católica do Rio de Janeiro (PUC-RJ), Brazil. He holds a Master’s degree in Economics from the Pontifícia Universidade Católica do Rio de Janeiro, Brazil. He holds a Ph.D. in Economics from the Massachusetts Institute of Technology (MIT), Cambridge, Massachusetts, U.S.