Federal Police link BRB-Master acquisition talks to Zurich meeting

A Federal Police (PF) report sent to the Supreme Federal Court (STF) indicates that negotiations for the acquisition of Banco Master by Banco de Brasília (BRB) were discussed during a meeting in Zurich, Switzerland, on January 23, 2025.

The meeting reportedly included the then-governor of the Federal District, Ibaneis Rocha, the then-president of BRB, Paulo Henrique Costa, and former banker Daniel Vorcaro, who controlled Master at the time. Investigators noted that messages extracted from mobile phones suggest Rocha requested the meeting.

The investigation also suggests that planning for the operation began months prior to the Swiss meeting. In October 2024, BRB moved to raise up to R$ 1 billion through the market to expand its capital. Investigators claim that communications between Costa and Vorcaro indicate the integration of the two institutions was being planned before formal negotiations were established. The PF is also examining Rocha's influence over strategic decisions at BRB, a public bank controlled by the Federal District government.