Raymundo Magliano Filho

The family entered the stock market in 1917 with his father, Raymundo Magliano, who, after working in brokerage firms, obtained a license to be a broker on the Official Stock Exchange. In 1927, he founded Magliano S.A., broker 001 on the Bovespa. He was also president of Bovespa, in 1972, for six months. 

In the late 1960s, he became a broker and described the experience as a challenge: “The first time was a trial by fire, like if you were taking an entrance exam. You stand there in that Corbeille, and you have to scream, it's the first time, and all the brokers will obviously look at you and hear your sound."

Closely following the evolution and modernization of Bovespa, Raymundo M. Filho became vice-president of the institution between 1996 and 2000. In 2001, he assumed the presidency, where he was a defender of the democratization of the capital market, making it more accessible.

Launched in 2002, the project was developed with the aim of bringing Bovespa closer to civil society. The initiative took stock market professionals to different places in Brazil through “Bovmóvel”.

The first contact was established with Força Sindical through “Bovespa vai à fábrica”, and expanded to “Bovespa vai ao clube”, “Bovespa vai à academia”; “Bovespa vai à universidade”; “Bovespa vai à Praia”.

In 2004, Bovespa became the first stock exchange in the world to sign the UN Global Compact, committing to socio-environmental responsibility and the promotion of these principles among other exchanges and partners in the financial area.

Created in 2006, it offered free courses aimed at people of different age groups, with the aim of spreading the concepts of financial education.

The topics, which covered personal finance planning, savings habits and types of investment, with specific content for each group, were presented in classes taught by market professionals and teachers trained by Bovespa.

Launched in 2006, it was a competition focused on financial education. In addition to prizes, the event offered insights into the Brazilian economy and the functioning of the capital market.

The first edition of Desafio was attended by approximately one thousand people, including students and teachers from public and private schools in the city of São Paulo. Due to its success, the competition was held until 2017.

Opened in September 2006, offered public visits in the old trading floor, providing a learning and networking environment for visitors to the capital market . In 13 years, it has received more than 1,200,000 visitors.

In 2007, led by Magliano Filho, Bovespa went public, ceasing to be a non-profit civil society. By becoming Bovespa Holding (BOVH3),  listed on the Novo Mercado, it increased its transparency, reliability and solidity in the stock market.   

Magliano Filho actively participated in the negotiations for the merger of the exchanges to happen. With the creation of BM&FBovespa, in 2008, it was possible to integrate the trading operations of stocks, derivatives and commodities in a single location, increasing efficiency.

Raymundo Magliano Filho was an admirer of the work of the Italian philosopher Norberto Bobbio, one of the great thinkers of the 20th century, and incorporated this influence into his management, based on the principles of transparency, visibility and access.

In order to disseminate the philosopher's work and promote studies on democracy, citizenship and human rights, Magliano Filho founded, in 2005, the Norberto Bobbio Study Center. In 2009, it became Instituto Noberto Bobbio (INB), a non-profit and independent association.

At the end of his tenure at the Stock Exchange, in 2008, the number of individual investors increased by 525% in variable income alone, from 80 thousand to 500 thousand.

By expanding the access of individuals to investment opportunities, Magliano Filho left a legacy. In 2024, B3 registered 5.3 million investors in variable income and 90.6 million with a balance in Bank Deposit Certificates and Bank Deposit Receipts.

In 2023, INB created the Raymundo Magliano Filho Award, which seeks to promote financial citizenship and contribute to the construction of a more financially just society, with the support of partners such as B3.

New biographical exhibitions about important figures in the capital markets will be launched soon. The next one will highlight the journey of Manoel Felix Cintra Neto, who was president of BM&F from 1997 to 2008. Stay tuned for more stories that are part of the capital markets.