His son Walter Moreira Salles was named an acting partner in 1933 at the young age of twenty-one.

In time its headquarters moved to São Paulo, in the homonymous state, Brazil's largest financial center.

Even though its shares were listed on the São Paulo Stock Exchange (Bovespa), the bank was largely controlled by its founding Moreira Salles family.

After 2006, his son Pedro Moreira Salles served as the company's Chief Executive Officer and Vice Chairman of the Board.

On November 2, 2008, Unibanco and the second largest Brazilian private banking group, Banco Itaú, announced plans for a merger.