In 1971 he and three partners founded the Brazilian investment banking firm Banco Garantia. Undaunted by a horrific market crash that came only weeks later, Lemann was eventually able to build Garantia into one of the country's most prestigious and innovative investment banks, described in Forbes as "a Brazilian version of Goldman Sachs."
Later he and his partners bought control of a Brazilian brewery that eventually became AmBev. In 2003 AmBev had a pretax profit margin of 35 percent on sales of USD $2.7 billion. It controlled 65 percent of the Brazilian beer market and almost 80 percent of Argentina's, with monopoly positions in Paraguay, Uruguay, and Bolivia.
AmBev merged with Interbrew of Belgium in August 2004. The stock of the combined firm, InBev, soared 40 percent during 2005.
A onetime tennis champion (he played at Wimbledon),Jorge Paulo Lemann still actively invests in Brazil with former Banco Garantia partners - and fellow billionaires - Marcel Telles and Carlos Alberto Sicupira.
In addition, Jorge Paulo Lemman is also a board member of Lojas Americanas S.A., the Gillette Company and Swiss Re; Chairman of the Latin American Advisory Committee of the New York Stock Exchange; founder and board member of Fundação Estudar, which provides scholarships for Brazilian students; and a member of the International Advisory Boards of the Credit Suisse Group and DaimlerChrysler.
Jorge Paulo Lemann previously served as a member of the board of directors of Brahma from 1990 to 2001. He is currently married with six children.
Investment banker turned beer baron. With former banking partners and fellow billionaires Marcel Telles and Carlos Alberto Sicupira (see both), shares control of global powerhouse brewer InBev of Belgium—a company born of 2004 merger of AmBev of Brazil and Interbrew of Belgium. The Lemann-Telles-Sicupira trio also controls Brazilian retailer Lojas Americanas. Lemann's fortune was born of success at investment bank Banco Garantia, which he founded 1971 and sold to Credit Suisse First Boston 1998 for $675 million.
Behind the complicated shareholder structure at the Belgium-based brewer InBev there is one man who has been instrumental in getting the drinks in: former investment banker and serial deal-brokerJorge Paulo Lemann.
Based in Switzerland since a foiled attempt to kidnap his children in 1999, the billionaire Brazilian financier, InBev board member and major shareholder shaped one of the most aggressive global acquisition trails ever seen. A combination with Anheuser will take that record a step further. Starting in the beer industry with the 1989 purchase of Brazil's largest brewer Cervejaria Brahma, the ambitions of Lemann and two banker colleagues looked modest at first. Their first major acquisition came 10 years later merging with Companhia Antarctica Paulista to form AmBev.
2004 saw the mega-merger with Interbrew, the Belgian group with a brewing heritage stretching back to 1366. Presented as a merger of equals, three aristocratic Belgian families had four seats on the board, as did Jorge Paulo Lemann and his associates. The Belgians and Brazilians controlled 64% of the group in a shareholder agreement. At the time, the Brazilians paid homage to Interbrew's heritage and brands, much as it did yesterday to Anheuser-Busch. Since then, under Lemann protege Carlos Brito as chief executive, InBev has a ruthlessly pursued a cost efficiency agenda and now boasts the largest operating profit margin in the industry.
Jorge Paulo Lemann has never been involved in running his brewing empire. Sent to Harvard by his Swiss father, who emigrated to Brazil in the early 1920s, Lemann turned to tennis first and made it to Wimbledon, before returning to finance. In 1971, he co-founded Brazilian finance house Garantía, bringing new deal-financing techniques to Latin America. A spell in New York watching new derivatives trading operations at Bankers Trust proved influential. In 1998 Garantía was sold to Credit Suisse First Boston, for $675m (£337m). Lemann's reputation on the world stage saw him appointed to the board of Gillette alongside investment legend Warren Buffett, who recently described the Brazilian as "a good friend". Useful, then, that Buffett's Berkshire Hathaway is Anheuser's leading shareholder with a stake of almost 5%.
Jorge Paulo Lemann serves as a General Partner of GP Investments S.A, a buyout and restructuring firm. Mr. Lemann is an Entrepreneur with controlling stakes at AmBev, a brewery, Lojas Americanas and GP Investments S.A. Mr. Lemann founded and served as a Senior Partner of Banco de Investimentos Garantia S.A., a Brazilian investment bank, from 1976 to 1998. Mr. Lemann has been an Alternate Director of Companhia de Bebidas Das Americas (AMBEV) (Previously American Beverage
Os principais executivos do país escolheram: Antônio Ermírio de Moraes (Grupo Votorantim), Jorge Gerdau Johannpeter (Gerdau), Jorge Paulo Lemann (Ambev), Olavo Setúbal (Itaú) e Rolim Amaro (TAM). Estes empresários foram ovacionados de pé por mais de mil executivos e empresários, presentes no Teatro Alfa. A pesquisa com os principais executivos do país foi realizada em parceria com o Instituto GFK Indicator.
Jorge Paulo Lemann, a 59-year-old former tennis champion, who built the banking partnership from scratch (see box), is believed to want to sell the bank and concentrate on his other investments. He suffered a heart attack on the tennis court some years ago and has distanced himself from day-to-day operations. An austere and determined character, Lemann will get his wish eventually, even though younger partners may be against any sale, say observers of the bank. But it is proving a challenging proposition. The recent losses and Garantia's trading room culture have so far scared off all potential suitors and Garantia's 19 partners have yet to decide whether they prefer the bank to be an independent niche player, concentrating on trading and restricted in underwriting capabilities by capital size and distribution, or whether they want to compete with international firms now closing in on the Brazilian market. To do this means tying up with a foreign house substantially compromising their ability to trade as aggressively as in the past.
Com o passar dos anos, já bilionário, Jorge Paulo Lemann passou a investir maciçamente numa das empresas que ele mais admira: a Gilette. Hoje, ele é o segundo maior acionista da companhia, atrás apenas de Warren Buffet, de quem se tornou grande amigo. Tem uma cadeira no conselho de administração. Com um fortuna superior a US$ 2 bilhões, ele é também membro do conselho da Bolsa de Valores de Nova York. Qual a próxima tacada de Lemann & Cia? Muitos apostam que logo eles venderão sua participação na Interbrew por um preço maior do que compraram.
II) Companhia de Bebidas das Américas – Ambev, Jorge Paulo Lemann, Carlos Alberto da Veiga Sicupira e Marcel Herrmann Telles, em defesa conjunta às fls. 218/240, alegam, preliminarmente, que, ao apreciar o primeiro Termo de Acusação, o Diretor-Relator restringiu o âmbito do presente processo e, por conseguinte, delimitou as atribuições da SEP, o que não foi observado por tal Superintendência, cujos atos que desconsideraram a determinação do Diretor-Relator são nulos de pleno direito.