Latin America’s largest private bank is combining scale with digital leadership, global partnerships and a one-stop advisory model to serve more than 10,000 families at home and abroad
Itaú Private Bank remains the clear leader in Brazil’s wealth management market, holding a 30% share and supporting more than 10,000 families across 17 offices worldwide. By the end of 2024, the bank managed over $160bn in assets under management, with net income expanding at a compound annual growth rate (CAGR) of 15% in recent years.
Despite this scale, client satisfaction has remained high, well above the excellence threshold. These metrics underline Itaú’s ability to balance strong financial performance with close client relationships in a volatile economic environment.
Over the past four years, the bank has also improved efficiency and operating income nearly doubled, while client numbers grew 20%. These gains highlight the bank’s ability to scale without compromising service quality.
Digital edge
Technology investment has become central to Itaú’s model. Itaú Private Bank is driven to innovate by its desire to offer the best possible experience to its clients. The bank uses customer feedback to help improve the customer journey and its commercial team. The bank’s strategy and vision is to simplify its clients’ daily lives and increase its competitiveness in the market through technological and procedural improvements.
AI and machine learning are also being embedded into advisory tools, allowing relationship managers to deliver just-in-time investment offers tailored to client needs.
Online platforms such as ‘Wealth for All’ further extend the digital ecosystem, giving families a structured way to review assets and succession planning with advisory support.
Partnerships and client solutions
Alongside digital initiatives, Itaú has strengthened its international proposition. A partnership with US-based Avenue Securities provides broader access to offshore markets, while, in Brazil, an exclusive partnership with the US’ Brown Advisory expands the range of global alternative investments available to clients.
These relationships reinforce Itaú’s positioning as a one-stop shop, integrating advisory, credit and investment services across borders. The strengthening of life planning has added depth to the wealth management offering, covering issues from inheritance and family governance to marital transitions and living abroad.
New product launches, including renovation and construction financing, and aircraft insurance, demonstrate how Itaú adapts to client needs. Risk management remains a central pillar, with the bank enhancing know your client (KYC) processes and promoting independent oversight at the board level, reinforcing resilience in a volatile environment.
Looking ahead, Itaú has set a clear ambition to be the leading global private bank for Latin Americans, with a long-term vision built around family values, niche expertise such as agribusiness and the integration of advisory, banking and investment services across geographies.
Engaging the next generation
Looking beyond today’s wealth holders, Itaú has built dedicated programmes to engage and educate the next generation. Initiatives such as the Family Wealth Across Generations event, Summer Programme, Finance Academy and Itaú Connections in addition to other events and meetings are collectively aimed at strengthening ties with clients’ children and with academic networks at colleges and universities, reaching hundreds of people between the ages of 15 and 30 in the past year.
In parallel, the bank has curated over 300 cultural, educational and lifestyle events for clients, attracting thousands of participants. These efforts underscore Itaú’s commitment to combining technical excellence with relationship-driven engagement.
Metrics That Matter
- 30% Share of Brazil’s private banking market held by Itaú
- $160bn+ Value of private banking assets under management in 2024
- 80+ Net promoter score, placing Itaú in the Excellence tier for client satisfaction
- 17 Number of offices worldwide – Latin America, the US and Europe