Early Life
Pedro Moreira Salles was born on October 20, 1959, in Washington, D.C., while his father, Walther Moreira Salles, served as Brazil's ambassador to the United States. He is part of a family with deep roots in the Brazilian banking industry. His father founded Unibanco, which later merged with Itaú, creating Itaú Unibanco. Salles spent his childhood in Paris and later studied at the University of California, Los Angeles, where he earned a degree in economics and history. He also attended Yale University and Harvard University for graduate programs.
Rise to Success
Salles began his career at Unibanco in 1989, rising through the ranks to become chairman in 1997 and CEO in 2004. He played a key role in the 2008 merger of Unibanco and Itaú, forming Itaú Unibanco Holding S.A., the largest financial conglomerate in the Southern Hemisphere. He currently holds the position of Chairman of Itaú Unibanco. Salles and his brothers also hold a stake in CBMM (Companhia Brasileira de Metalurgia e Mineração), the world's leading supplier of niobium.
Key Business Strategies
A significant strategy has been the expansion and diversification of the family's business interests. This includes leadership in Itaú Unibanco, the largest private-sector bank in Latin America, and ownership in CBMM, a major player in the global niobium market. Salles has also been involved in private equity through Cambuhy Investimentos, a firm he co-founded.
Philanthropy
Pedro Moreira Salles is known for his support of stem-cell research. He is also involved in various philanthropic initiatives, including the Instituto Unibanco, which focuses on improving the efficiency of public school education.