Headquartered in São Paulo, Brazil, the company operates financial institutions that offer a broad range of services, including commercial and wholesale banking, consumer credit and asset management. The company was founded by João Moreira Salles and Alfredo Egydio de Souza Aranha.
In 1924, Walter Moreira Salles opened his bank, Casa Moreira Salles in Poços de Caldas, Brazil. By the 1940s, the bank had expanded into Rio de Janeiro and São Paulo. In 1943, textile executive, Alfredo Egydio de Souza Aranha founded Banco Central de Crédito SA, with his partner, Aloysio Ramalho Foz, in São Paulo. Casa Moreira Salles would become Unibanco, and the Central Bank of Credit became Itaú in the 1960s. Representing one of the largest mergers in Brazilian history, the two banks joined in 2008, creating Brazil’s biggest private financial institutions, and one of the biggest in the world.
Today, Itaú Unibanco Holding SA has approximately 5000 branches in Brazil and 21 countries globally, with over 99,000 employees, and yearly revenue of $62.3 billion. Pedro Moreira Salles, son of founder Walter Moreira Salles, serves as a Co-Chairman for the company.
- Family name: Moreira Salles and Souza Aranha families
- Sector: Banking & Capital Markets
- Founded: 1945
- Founder: João Moreira Salles and Alfredo Egydio de Souza Aranha.
- Country: Brazil
- Company headquarters: São Paulo, Brazil
- Revenue: 17.8
- Employees: 90,320
- Website: itau.com.br
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