Major scandals often leave scars across multiple sectors. Odebrecht deeply affected government institutions, Lojas Americanas shook the retail sector, and now Banco Master has added a negative chapter to the history of Brazil’s financial market. Yet the impact of such crises extends beyond the industries involved, also shaping public perception and the urban landscape.

Repeated protests marked the entrance of Auri Plaza Faria Lima, a building that today is popularly known as the “Master Building,” referring to the headquarters of Master Bank. Driving along Rua Fiandeiras today, passersby see the imposing tower surrounded by barricades and an empty space where the company’s logo once stood.

According to the market intelligence team at SiiLA, Master Bank’s presence in the building is nearing its end, with the company’s exit scheduled for April.

According to Felipe Laragnoit Leite, founding partner at Primaz&Co, despite the negative publicity currently surrounding the property, the reputational impact on the asset itself is unlikely to last long.

“I don’t believe a tenant necessarily creates long-term problems in that sense. The practical issues fall on the owner, such as the contract or the furniture — these are operational matters. The image might be affected, but only for a very short period. From a tenant perspective, it doesn’t really affect the building. However, if Master were the owner, then the situation would be different,” he explains.