On March 19, 2026, Banco Santander (Brasil) S.A. announced that long‑time chief executive Mario Roberto Opice Leão will step down in July, with Gilson Finkelsztain, the current chief operating officer, slated to take the helm. The announcement marks a planned, orderly transition that is expected to be completed by mid‑2026, with Leão remaining in his role until the July handover.
Leão has been with the bank for eleven years, serving as CEO for the last five, and has overseen a hybrid digital‑first strategy that has strengthened the loan portfolio. Finkelsztain, who is currently the CEO of B3 and has prior experience at Citibank, J.P. Morgan, and Santander Brasil, is expected to continue the bank’s focus on credit quality and digital expansion while navigating Brazil’s evolving regulatory and economic landscape.
The transition comes as Santander Brasil pursues a ‘Simple, Personal and Fair Bank’ strategy, emphasizing customer preference, loyalty, revenue diversification, and digital innovation. The bank’s ONE Transformation plan seeks to boost efficiency and profitability through global scale and technology, while the Gravity project migrates core banking systems to a modern cloud platform. AI is being leveraged for process automation, fraud detection, and personalized investment advice, with 60% of customer interactions now personalized through a new CRM platform.
In its most recent quarterly report, the bank posted a net profit of BRL 4.1 billion for Q4 2025, a 6.0% year‑on‑year increase and the highest quarterly profit in four years. Net interest income (NII) was BRL 15.3 billion, down 4.0% YoY, with market NII turning to a BRL 1.5 billion loss while client NII grew 6.6%. Total revenue was R$21.09 billion, a 1.9% decline YoY. The loan portfolio expanded to R$708.2 billion, up 3.7% YoY, and funding from clients rose 3.9% to R$670.4 billion. Asset quality metrics showed a cost of risk of 3.76% and an over‑90‑day NPL ratio of 3.7%, with NPLs at 2.8% of total loans. Operating costs fell 2.0% YoY, and the efficiency ratio stood at 38.8%. Management highlighted the quarter as an important milestone in its strategy to achieve sustainable profitability above 20% ROE, noting an aggressive push into AI‑driven transformation and hyper‑personalization.
Investors reacted positively to the CEO transition announcement, reflecting confidence in the orderly succession plan and the continuity of the bank’s strategic direction. The appointment is subject to regulatory approvals, but the bank’s strong track record and the experience of Finkelsztain in both the market infrastructure and banking sectors have bolstered market sentiment.
The succession plan underscores Santander Brasil’s commitment to maintaining momentum in digital innovation and credit quality while preparing for Brazil’s regulatory and economic shifts. With Finkelsztain’s background in market infrastructure and banking, the bank is positioned to deepen its AI and cloud initiatives, potentially accelerating the ONE Transformation agenda and sustaining its pursuit of a 20%+ ROE target.
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