UNITED STATES 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of June, 2020

 

Commission File Number: 001-39155

 

XP Inc.

(Exact name of registrant as specified in its charter)

 

Av. Chedid Jafet, 75, Torre Sul, 30th floor,

Vila Olímpia – São Paulo

Brazil 04551-065

+55 (11) 3075-0429

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F

X

  Form 40-F  

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

 

Yes     No

X

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

 

Yes     No

X

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    XP Inc.
     
     
      By: /s/ Bruno Constantino Alexandre dos Santos
        Name: Bruno Constantino Alexandre dos Santos
        Title: Chief Financial Officer

Date: June 15, 2020

 

 

 

EXHIBIT INDEX

 

Exhibit No. Description
99.1 Press Release dated June 15, 2020 – XP Inc. further strengthens the wholesale bank by appointing José Berenguer to lead its expansion.

  

 

 

Exhibit 99.1

 

 

 

XP INC. FURTHER STRENGTHENS THE WHOLESALE BANK BY APPOINTING JOSÉ BERENGUER TO LEAD ITS EXPANSION

 

São Paulo, Brazil, June 15, 2020 – XP Inc. (Nasdaq: XP), a leading, technology-driven financial services platform and a trusted provider of low-fee financial products and services in Brazil, announced the hiring of José Berenguer to lead the expansion of the wholesale bank business. Mr. Berenguer will assume the position of CEO of Banco XP S.A. after a garden leave period and his main objective will be to transform the wholesale segment through the development of innovative products and services, with a focus on generating value through long-term and transparent relationships with customers.

 

Since its beginning, XP Inc. has focused on individuals in transforming the Brazilian financial markets. Over time, the company realized that there was another segment as big, promising and poorly serviced. So, gradually as always, XP built a structure capable of offering Brazilian companies the best financial solutions. After a few years, we have developed one of the most relevant investment banks in Brazil.

 

For this new expansion phase, José Berenguer brings a successful track record with some of the largest institutions in Brazil. For the past seven years, he was CEO of J.P. Morgan in Brazil. Prior to that, he held the position of CEO of Gávea and served as CEO of various business units at Banco Santander (Investment and Wholesale Banking, Asset Management and Private Banking and Retail Banking), in addition to his former role as a member of the Board of Directors.

 

He also worked at Banco ABN Amro Real, Banco BBA Creditanstalt, ING Barings, ING Bank Brazil and Banco Boavista. In addition, Mr. Berenguer is an executive director and member of the Board of the Brazilian Federation of Banks (Febraban), chairman of the board of the Brazilian Biodiversity Fund (FunBio) and the Brazilian Association of International Banks (ABBI) and board member of B3 S.A. – Brasil, Bolsa, Balcão, the National Association of Credit, Financing and Investment Institutions (ACREFI) and the Brazilian Association of Banks (ABBC). Mr. Berenguer holds a law degree from the Pontifical Catholic University of São Paulo (PUC-SP).

 

Guilherme Benchimol, founder and CEO of XP Inc., said, “Mr. Berenguer’s arrival further reinforces our commitment to continue transforming the financial markets to improve peoples’ lives. He has an impressive background, and it will be a privilege to build the future of XP at his side.”

 

“I see at XP Inc. the opportunity to join a company that is revolutionizing the Brazilian financial markets, which are still very concentrated. We also aim to become a benchmark for corporate customers, with the delivery of innovative products through trust and transparent relationships,” commented José Berenguer.

 

About XP

 

XP is a leading, technology-driven financial services platform and a trusted provider of low-fee financial products and services in Brazil. XP’s mission is to disintermediate the legacy models of traditional financial institutions by:

 

·Educating new classes of investors;

 

·Democratizing access to a wider range of financial services;

 

·Developing new financial products and technology applications to empower clients; and

 

·Providing high-quality customer service and client experience in the industry in Brazil.

 

XP provides customers with two principal types of offerings, (i) financial advisory services for retail clients in Brazil, high-net-worth clients, international clients and corporate and institutional clients, and (ii) an open financial product platform providing access to over 600 investment products including equity and fixed income securities, mutual and hedge funds, structured products, life insurance, pension plans, real-estate investment funds (REITs) and others from XP, its partners and competitors.

 

 

 

 

 

Forward Looking Statements

 

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond XP Inc’s control.

 

XP, Inc’s actual results could differ materially from those stated or implied in forward-looking statements due to several factors, including but not limited to: competition, change in clients, regulatory measures, a change the external forces among other factors.

 

For any questions, please contact:

 

Carlos Lazar, Head of Investor Relations

Investor Contact:  ir@xpi.com.br

André Martins, Investor Relations Specialist

 IR Website:  investors.xpinc.com

  

 

2