By Brazil Stock Guide – The Central Bank of Brazil (BC) has blocked the transfer of control of BlueBank (formerly Letsbank) to Mauricio Quadrado. As a result, the bank will remain under the ownership of the Master conglomerate, which purchased it in February of last year.
This marks another setback for Quadrado, who in early 2025 had announced the acquisition of Digimais (formerly Banco Renner), owned by media mogul Edir Macedo, according to Valor Econômico. However, the deal fell through months later due to the Central Bank’s resistance to approving the transaction. Sources suggest the regulator had concerns over the deal, leading to its collapse.
Although the precise impact of the BC’s decision on Master remains unclear, the conglomerate has already seen structural changes. Recently, Quadrado announced his departure from the Master’s shareholder structure, a move pending BC approval. Following that, Daniel Vorcaro acquired Quadrado’s stake. Additionally, another shareholder, Augusto Lima, also announced his exit, but his transaction is awaiting regulatory approval. However, Lima successfully obtained BC’s greenlight to transfer the license of Voiter, now rebranded as Pleno, which he now controls.
Both Master and Mauricio Quadrado have declined to comment on the matter when contacted.