XP Founder to Step Down as CEO, Putting Tech Head in Spotlight

After helping turn XP Inc. into Brazil’s largest brokerage over the past two decades, Guilherme Benchimol is seeking to replay the role of an industry disrupter by naming his 36-year-old head of tech as his successor.

XP said Friday Thiago Maffra, the company’s chief technology officer, will replace Benchimol as chief executive officer beginning May 12. Maffra, who started his career as a trader, joined XP in 2015, according to a statement.

Maffra “led the unprecedented and highly successful digital transformation of XP,” Benchimol said in the statement, adding that XP will “remain at the forefront of innovation, disruption ...