Walter Moreira Salles
Encyclopedia
Walter Moreira Salles was a highly successful Brazil
ian banker, politician
and philanthropist
who is considered by many as one of the premier founders of the modern Brazilian financial and banking industry.
, Minas Gerais
. In 1926 his father, João Moreira Salles, established the Casa Bancária Moreira Salles (Moreira Salles Banking House) and Walther was named an acting partner in 1933 at the young age of twenty-one. During 1940, Banco Moreira Salles catalyzed its growth by merging with three regional banks and eventually changing its name to União de Bancos Brasileiros (Unibanco
). Walther helped propel Unibanco to its position as one of Brazil’s top three banking institutions by implementing a strategy of successful acquisitions and an emphasis on human resources. In 1991, Walther Moreira Salles retired as Chairman of the Board, after a 60-year career, to become Honorary Chairman and take over the conglomerate's cultural endeavors. In his farewell speech, he summed up Unibanco's working ethics: "We are people serving people. As impressive as the technology available to a bank can appear to be, in the end, each electronic exchange will still bear the plain and inevitable circumstance, of people serving people."
The Instituto Moreira Salles (IMS) was launched in 1991, with an agenda focused on people and the country's social development. Moreira Salles would be the first President of the Instituto, promoting cultural programming for the public at large. A year later IMS opened the Casa de Cultura de Poços de Caldas, in the city where Casa Moreira Salles was founded.
in the 1950s, travelling to Washington D.C. at least two times over the decade.
Moreover, he was Secretary of the Treasury in the parliament cabinet of João Goulart
and gained admiration from president Juscelino Kubitschek while conducting diplomatically incursions. During the 1950s he helped negotiate the growing problem of Brazil’s external debt on three occasions, in the governments Vargas, JK and Jânio.
, President Fernando Henrique Cardoso
and the actress Greta Garbo
. Walther Moreira Salles died in 2001, at Araras, district of Petrópolis
, in Rio, of causes not disclosed by his family.
His four sons are Pedro Moreira Salles
, current president of Unibanco; filmmaker Walter Salles
; documentarian João Moreira Salles; and publisher Fernando Moreira Salles.
Salles was married three times, to Helène Matarazzo, Fernando's mother, whom he divorced at 28 years old; Eliza Gonçalves, mother of Pedro, Walter and João, and his wife until the early 1970s; and Lúcia, whom he married in 1986.
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
ian banker, politician
Politician
A politician, political leader, or political figure is an individual who is involved in influencing public policy and decision making...
and philanthropist
Philanthropist
A philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...
who is considered by many as one of the premier founders of the modern Brazilian financial and banking industry.
Banking Career Overview
He was born on May 28, 1912, in Pouso AlegrePouso Alegre
Pouso Alegre is a city and municipality in southern region of Minas Gerais state, Brazil with a population of 127.974 of which 97.756 were urban and 9.020 were rural. The literacy rate is 94.2%. The area of the municipality is 541 km²...
, Minas Gerais
Minas Gerais
Minas Gerais is one of the 26 states of Brazil, of which it is the second most populous, the third richest, and the fourth largest in area. Minas Gerais is the Brazilian state with the largest number of Presidents of Brazil, the current one, Dilma Rousseff, being one of them. The capital is the...
. In 1926 his father, João Moreira Salles, established the Casa Bancária Moreira Salles (Moreira Salles Banking House) and Walther was named an acting partner in 1933 at the young age of twenty-one. During 1940, Banco Moreira Salles catalyzed its growth by merging with three regional banks and eventually changing its name to União de Bancos Brasileiros (Unibanco
Unibanco
Unibanco stands for União de Bancos Brasileiros . The bank was born in 1924 in Poços de Caldas in the state of Minas Gerais. In time its headquarters moved to São Paulo, Brazil's financial center...
). Walther helped propel Unibanco to its position as one of Brazil’s top three banking institutions by implementing a strategy of successful acquisitions and an emphasis on human resources. In 1991, Walther Moreira Salles retired as Chairman of the Board, after a 60-year career, to become Honorary Chairman and take over the conglomerate's cultural endeavors. In his farewell speech, he summed up Unibanco's working ethics: "We are people serving people. As impressive as the technology available to a bank can appear to be, in the end, each electronic exchange will still bear the plain and inevitable circumstance, of people serving people."
The Instituto Moreira Salles (IMS) was launched in 1991, with an agenda focused on people and the country's social development. Moreira Salles would be the first President of the Instituto, promoting cultural programming for the public at large. A year later IMS opened the Casa de Cultura de Poços de Caldas, in the city where Casa Moreira Salles was founded.
Political Involvement
Although he is best known for activities related to finance and banking, Walther Moreira Salles was also deeply involved in Brazilian politics. He served as the country’s ambassador to the United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
in the 1950s, travelling to Washington D.C. at least two times over the decade.
Moreover, he was Secretary of the Treasury in the parliament cabinet of João Goulart
João Goulart
João Belchior Marques Goulart was a Brazilian politician and the 24th President of Brazil until a military coup d'état deposed him on April 1, 1964. He is considered to have been the last left-wing President of the country until Luiz Inácio Lula da Silva took office in 2003.-Name:João Goulart is...
and gained admiration from president Juscelino Kubitschek while conducting diplomatically incursions. During the 1950s he helped negotiate the growing problem of Brazil’s external debt on three occasions, in the governments Vargas, JK and Jânio.
Personal and Family Life
Known for his discretion, amicable character and charm, the ambassador had many famous friends, including the rock musician Mick JaggerMick Jagger
Sir Michael Philip "Mick" Jagger is an English musician, singer and songwriter, best known as the lead vocalist and a founding member of The Rolling Stones....
, President Fernando Henrique Cardoso
Fernando Henrique Cardoso
Fernando Henrique Cardoso – also known by his initials FHC – was the 34th President of the Federative Republic of Brazil for two terms from January 1, 1995 to December 31, 2002. He is an accomplished sociologist, professor and politician...
and the actress Greta Garbo
Greta Garbo
Greta Garbo , born Greta Lovisa Gustafsson, was a Swedish film actress. Garbo was an international star and icon during Hollywood's silent and classic periods. Many of Garbo's films were sensational hits, and all but three were profitable...
. Walther Moreira Salles died in 2001, at Araras, district of Petrópolis
Petrópolis
Petrópolis , also known as The Imperial City of Brazil, is a town in the state of Rio de Janeiro, about 65 km from the city of Rio de Janeiro....
, in Rio, of causes not disclosed by his family.
His four sons are Pedro Moreira Salles
Pedro Moreira Salles
Pedro Moreira Salles is the current Chairman of Itaú Unibanco the largest private banking institution in Brazil and is a Forbes billionaires listed person with a net worth of US$ 2.6 billion.-Career:...
, current president of Unibanco; filmmaker Walter Salles
Walter Salles
Walter Moreira Salles, Jr. is a Brazilian filmmaker and film producer of international prominence.-Life and career:Salles was born in Rio de Janeiro. He is the son of Elizinha Goncalves and Walter Moreira Salles, a Brazilian banker and ambassador, and the brother of João Moreira Salles, also a...
; documentarian João Moreira Salles; and publisher Fernando Moreira Salles.
Salles was married three times, to Helène Matarazzo, Fernando's mother, whom he divorced at 28 years old; Eliza Gonçalves, mother of Pedro, Walter and João, and his wife until the early 1970s; and Lúcia, whom he married in 1986.