Vorcaro would leave Banco Master management
Daniel Vorcaro, founder of Banco Master, told the Federal Police he planned to leave the presidency of the institution if the corporate restructuring with Banco de Brasília was completed. The testimony was sent to the STF and reveals details of the negotiations and pressures faced by the businessman.
The founder of Banco Master, Daniel Vorcaro, stated in a statement to the Federal Police on October 15 that he intended to leave the presidency of the financial institution and transfer the management to another executive if the corporate reorganization project with Banco de Brasília (BRB) was completed. The statement was made public and forwarded to Supremo Tribunal Federal (STF) on Thursday, October 29, 2026.
According to Vorcaro, the intention was to constitute a financial conglomerate involving Banco Master and BRB. The testimony integrates investigation conducted by the Federal Police and brings details about the negotiations, the market pressures and the discussions on housing for the then president of the BRB, Paulo Henrique Costa.
Project of corporate reorganization
According to the entrepreneur, the project went through different configurations throughout the negotiations. The common administrative structure was foreseen, although Master and BRB continued their own operations. The source did not detail the formal deadlines or steps of the process.
Vorcaro explained that the alternatives included the presidency of a holding company or command functions in the institutions of the conglomerate. The definition depended on the corporate model chosen and the requirements of the Banco Central for approval by administrators. This flexibility reflected the complexity of the operation and the need for regulatory adequacy.
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Pressures and personal resistance
The entrepreneur stated that he faced financial market pressures and personal resistance to his permanence in management. Therefore, he said that he was already considering leaving the executive command of the Master before the conclusion of the conversations with the BRB. The statement suggests an accumulated wear and tear on the bank’s leadership.
Initially, according to Vorcaro, the possibility of him remaining on a board of directors was considered. Later, he said he abandoned that possibility. The change of position indicates a progressive decision to move away from the governance structure altogether.
Paulo Henrique Costa
The founder of the Master said that the then president of the BRB, Paulo Henrique Costa, was now considered to assume an executive role in the new structure. The source did not detail which specific position would be assigned to Costa, but the mention reinforces the central role of the executive in the negotiations.
Vorcaro also related this possible change of management to the discussion about properties that would be made available to Costa in São Paulo and Brasilia. The businessman denies involvement in the payment system of bribes and money laundering through apartments, pointed out by the investigation of PF.
Housing as a manager's benefit
Asked about conversations related to the availability of apartments in Brasilia and São Paulo, Vorcaro said: “I did not promise real estate to him. I promised housing as part of the benefit of being manager of the bank.” The declaration seeks to differentiate a legitimate offer of corporate benefit from any unlawful act.
The defense of Paulo Henrique Costa was sought by Poder360 to comment on Vorcaro’s statement, but did not get a response until the publication of this report. This text will be updated as soon as any manifestation is received.
Ongoing investigation
The testimony of Vorcaro was forwarded to STF, which indicates the relevance of the case and the possible participation of authorities with privileged forum. Federal Police are investigating the alleged bribery and money laundering scheme involving real estate, but there is no additional information on the current stage of the investigations.
The case gains contours of public interest by involving two large financial institutions and a reorganization project that could alter the regional banking scenario. The mention of housing benefits for executives also raises questions about governance and compliance practices in the industry.
Next steps
So far, there is no official Banco Master or BRB statement about Vorcaro’s statements. The defense of Paulo Henrique Costa also did not pronounce itself. The Boca no Trombone portal will continue to follow the case and bring updates as new information is released.
For the reader, the relevance lies in the transparency of negotiations between banks and in the conduct of their managers, especially in a context of investigations into corruption and money laundering. Follow the next reports on the subject on our portal.
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