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Jul 14, 2010

Best in Brazil: Itaú Unibanco wins top IR prize

Vale and Natura also perform well at the IR Magazine Brazil Awards 2010

Itaú Unibanco, the financial services giant, was the big winner at this year’s IR Magazine Brazil Awards. The bank – Brazil’s biggest by assets under management – took home the grand prix for best IR by a large cap and best IR by a CEO for Roberto Setubal.

The winners were chosen by a survey of more than 250 investors and analysts commissioned by IR magazine. They picked up their awards at a gala event held at Buffet Tôrres in São Paulo last night.

Respondents to the survey pay tribute to the way Setubal has handled the integration of Itaú Unibanco, which was formed in 2008 by the merger of Banco Itaú and its smaller rival Unibanco.

Setubal managed ‘to lead the largest merger between financial institutions in the country and keep the market extremely well informed,’ says one respondent. Another praises Setubal for the way he explained the ‘strategy, goals and motivations of the new bank.’

Vale – the grand prix winner in 2009 – put in another strong performance at this year’s awards. The mining company picked up the awards for best IR website, best annual report and best conference call. 

Cosmetics company Natura also performed well, taking home the prizes for best corporate sustainability and best corporate governance.

The award for best IR program for individual investors went to Petrobras. ‘The company has a specific system for managing individual investors and obtains specific responses for particular questions,’ says one respondent to the survey. 

In the individual categories, Silvio Guerra of Localiza bagged the prestigious award for best IR officer at a large-cap company. ‘He has a deep knowledge of the business and is clear and objective,’ comments one member of the Brazilian investment community.

Smaller companies were also honored at the awards, with healthcare provider OdontoPrev enjoying a double success: the company won the grand prix for best investor relations by a small or mid-cap company and also best IR officer for José Pacheco.

Find out more about the study methodology. View the full list of winners.