As a banker at Morgan Stanley, Santiago Stel helped some of the biggest names in Latin America’s once-booming fintech industry go public, including XP Inc. and Nu Holdings Ltd.
But as the craze for initial public offerings cooled and Stel was considering his next career moves, it was one of his IPO clients that caught his eye: Inter & Co., the digital bank controlled by Brazil’s billionaire Menin family. Intrigued by the company’s business model, he left Wall Street in 2022 and joined the firm. Now, after a year running strategy, he was just named chief financial officer.
“There was a moment when I realized that it was significantly more interesting to be on the client side than to be on the investment-banker side, but I wanted to pick the right platform,” Stel said in an interview in Miami, where he’s based. “I fell in love with what I saw — a fully digital platform that goes beyond banking to solve the entire transactional life of the client.”
Read the full story on Bloomberg here.