Low-key and low profile member of one of Brazil's oldest and most distinguished banking families. Was chosen to lead the family business after death of great-uncle Olavo Setubal in 2008. That same year family's Banco Itau merged with Unibanco. Is now vice chairman of the board of Itau Unibanco Holding SA, Brazil's second biggest bank and one of the world's fifteen largest banks. Alfredo is among the largest individual shareholders of the bank. With sister, Ana Lucia, supports Alana Institute, a non-profit organization created in 1994 with the mission of fostering and promoting social work, education and culture.