Last Friday, Cubo, the innovation hub of the largest bank in Latin America, Itaú Unibanco, announced Paulo Costa as its new chief executive, replacing Pedro Prates.
Costa spent the last two years at investment fund manager Neo. Previously, he has also worked for five years at Accenture.
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Prates, in his turn, now joins Anderson Thees and Manoel Lemos on Itaú Unibanco’s startup investment platform, announced by the bank’s president, Milton Maluhy, in April.
In 2021, Cubo Itaú startups received around BRL 3 billion ($632 mln) in investment, 60% more than in 2020.