Olavo Egídio Setúbal
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| Olavo Setubal | |
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Mayor of São Paulo (appointed)
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| In office 17 August 1975 – 11 July 1979 |
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| Preceded by | Miguel Colasuonno |
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| Succeeded by | Reinaldo de Barros |
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| In office 1985 – 1986 |
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| Born | 16 April 1923 São Paulo |
| Political party | PFL |
| Occupation | Banker |
Olavo Egídio Setúbal (Sao Paulo, 16 April 1923) is an industrialist, banker and Brazilian politician. He was Mayor of Sao Paulo appointed by governor Paulo Egídio Martins.
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[edit] Early life
Olavo Setúbal was born in São Paulo, (his surname comes from the homonyme city Setubal in Portugal, where his great grandfather was born) he decided to be an engineer at an early age against his father wishes. Paulo Setúbal who was a successful and bohemian writer at the time wanted to have a talk with his son before dying. He advised him to be a lawyer instead of an engineer saying "Engineering is a second rate career. You should be a lawyer because they are the ones prepared to lead Brazil". His mother, Francisca Setúbal, had to support his studies from the age of 13 onwards. In 1945, he graduated by Escola Politécnica da Universidade de São Paulo and started to work as professor-assistant at IPT.
[edit] First Business
With US$ 10,000 that he managed to save, Olavo and an old school friend bought two machines founding Deca, the company produced parts for knobs and faucets and had ten employees at the time. The beginning was difficult but in 1953 the company started to recover when introduced the industry of flush valve.
[edit] Assisting Family Businesses
While Deca was doing very well, he was requested to recover his uncle Alfredo businesses. He owned Duratex and a small bank called Banco Federal de Crédito. Olavo successfully freed both institutions from debt. When his uncle died, Olavo became general-director of the Banco Federal de Crédito in 1959. He started to hunt big clients and obtained resources that allowed financing bigger operations. One of his first measures was to make sure all managers had high school level.
[edit] Expanding the Businesses
In the 60's, Olavo realised that there was no other way to expand the business if other institutions were not incorporated. When Itaú was bought, the list of clients was mainly rural, the bank became the 16th biggest in Brazil. New merges happened and slowly Olavo became the 2nd biggest banker in Brazil by the end of the 70's.
[edit] Political career
The successful professional career approached his relations with politics. In 1975, the governor Paulo Egydio Martins invited him to be Mayor of São Paulo. About his time in office as mayor he stated: "It was one of the rare periods I had insomnia and had to take medicines to sleep..." , "Administrating the city is a fantastic thing, I feel honored. but you have to work much harder than you do while running a bank and the salary is much lower."
During president José Sarney administration in 1985 he was appointed as Minister of Foreign Relations, the appointment was actually made by Tancredo Neves.
In an internal election at PFL, he was defeated and gave up the idea of running for Governor of São Paulo in 1986 retiring from the political life.
| Preceded by Miguel Colasuonno |
Mayor of São Paulo 1975 – 1979 |
Succeeded by Reinaldo de Barros |
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| Persondata | |
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| NAME | Setúbal, Olavo Egídio |
| ALTERNATIVE NAMES | |
| SHORT DESCRIPTION | Mayor of São Paulo |
| DATE OF BIRTH | April 15, 1923 |
| PLACE OF BIRTH | São Paulo |
| DATE OF DEATH | living |
| PLACE OF DEATH | |
