Politican, Industrialist, Banker. He was Mayor of São Paulo, Brazil from 1975 to 1979 and Brazil's Foreign Minister from 1985 to 1986 during which he is credited with establishing the Mercosul customs union between Brazil, Paraguay and Uruguay. In the early 1950s with savings of about $10,000 he built a $60 billion empire that began with a metal shop he purchased with a friend and grew via acquisitions, along his assignment to manage his uncle's bank, Banco Federal de Credito, that he merged with Banco Itau Holding Financiera SA in 1965 to become the second largest bank in Brazil with assets of $200 billion. He was chairman of the Itaúsa conglomerate from 2001 to his death in 2008. Died of heart failure in Sao Paulo.
Politican, Industrialist, Banker. He was Mayor of São Paulo, Brazil from 1975 to 1979 and Brazil's Foreign Minister from 1985 to 1986 during which he is credited with establishing the Mercosul customs union between Brazil, Paraguay and Uruguay. In the early 1950s with savings of about $10,000 he built a $60 billion empire that began with a metal shop he purchased with a friend and grew via acquisitions, along his assignment to manage his uncle's bank, Banco Federal de Credito, that he merged with Banco Itau Holding Financiera SA in 1965 to become the second largest bank in Brazil with assets of $200 billion. He was chairman of the Itaúsa conglomerate from 2001 to his death in 2008. Died of heart failure in Sao Paulo.
Bio by: Fred Beisser
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