Early Life
Pedro Moreira Salles was born on October 20, 1959, in Washington, D.C.. He is the son of Walther Moreira Salles, the founder of Unibanco, and Elisa Gonçalves. Pedro grew up in a family with deep roots in banking. He graduated magna cum laude from the University of California, Los Angeles, with a degree in economics and history. He also attended the graduate program in International Relations at Yale University and the Owner/President Management Program at Harvard University.
Rise to Success
Salles' career began with his involvement in Unibanco, a bank founded by his father. He officially joined Unibanco in 1989 and steadily climbed the ranks. He became the chairman of Unibanco in 1997 and served as CEO in 2004. Under his leadership, Unibanco merged with Itaú in 2008, creating Itaú Unibanco, the largest private sector bank in Latin America. Salles currently holds the position of Chairman of Itaú Unibanco Holding. He also co-founded Cambuhy Investimentos Ltda, a private equity firm.
Key Business Strategies
A key strategy in Salles' career has been the consolidation of the banking sector. The merger of Unibanco and Itaú was a pivotal move, creating a financial powerhouse in Brazil. Additionally, the Moreira Salles family owns a significant stake in CBMM, the world's leading supplier of niobium, diversifying their wealth beyond banking. Salles is known for his ability to adapt to changing market conditions and his focus on long-term growth and value creation.
Philanthropy
Pedro Moreira Salles is known for his commitment to philanthropy and education. He has been involved in various initiatives aimed at improving access to quality education in Brazil. The Moreira Salles Institute, established by his family, supports initiatives in photography, literature, music, and visual arts, showcasing the family's dedication to preserving and promoting Brazil's rich cultural heritage.
