Mastercard Incorporated announced that its board of directors has named Candido Botelho Bracher as an independent director, effective immediately.
“Candido’s deep and sophisticated experience across the private sector in Brazil and the broader Latin America region make him a valuable addition to the board”
“Candido’s deep and sophisticated experience across the private sector in Brazil and the broader Latin America region make him a valuable addition to the board,” said Ajay Banga, executive chairman, Mastercard. “He is a thoughtful and innovative thinker, with a bias for action. In his four years at the helm of Itaú, Candido deepened the bank’s ties with key stakeholders, reinforced by the positive impact delivered to his customers and employees. We look forward to his guidance and contribution to the future of our company.”
Bracher brings more than 30 years of experience in global financial services to the Mastercard board. He is currently a member of the board of directors at Itaú Unibanco Group, the largest financial conglomerate in the southern hemisphere. He served as the company’s president and chief executive officer from 2017 to February 2021, a capstone to a 14-year career at Itaú. During his term, the bank ushered in a new digital transformation and deepened its focus on customer experience.
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Bracher held positions at Banco Itamarati, Bahia Corretora, Banco da Bahia Investimentos and the Development Bank of the State of São Paulo. Early in his career, Bracher was part of the team that created BBA Creditanstal in 1988, helping to evolve it into a leading wholesale investment bank in Brazil. It merged with Itaú in 2003 to form Itaú BBA, the country’s leading investment bank.
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