Determined to move to an area of more economic prominence, the bank made an agreement with the Santa Casa de Misericórdia to purchase a building that they would demolish to construct a new headquarters on João Brícola street.

The project was held in the account of the engineer and architect Plinio Botelho do Amaral, but was adapted by the contracting firm Camargo & Mesquita, who wanted to construct something similar to the Empire State Building.

Since then, the building has not undergone any significant external alterations, even after the 2000 sale of Banespa to the Spanish financial group Banco Santander Central Hispano.

[5] The building was closed for public visitation in 2015 and underwent an internal renovation, reopening on 26 January 2018, as a cultural and entertainment center named Farol Santander.

In the highest point of the building, accessible from 33rd floor by 2 sets of stairs, there is an observation deck with views of up to 40 km.

The museum's collection includes 993 objects, 1003 workmanships, 98 signed photographs, 66 eastern and national carpets among other items.