Although Banco Bradesco SA ranks second to the leading private bank, Itaú Unibanco, in Brazil, the Osasco-based Bradesco has a commendable control of the Brazilian financial industry. Bradesco is present in over five thousand locations, over three thousand of which are offices. In addition, the bank’s revenues—$50 billion—speak to its sizeable market share.
Recently, Lazaro de Mello Brandao resigned his chairmanship post at Bradesco. Brandao, 91, had served the bank for a cumulative of 36 years, both as the CEO and chair of the board of directors. In addition, Brandao had discharged various duties at the bank for 38 years before being appointed CEO and later chairman.
Brandao took a personal initiative to abdicate duty. While, obviously, age was catching up with the retired executive, Brandao resigned in the interest of the board and Bradesco at large. According to Brandao, the appointment of new younger chairman would foster the spirit of continuity and renewal, a significant factor at the bank. The 91-year-old Brandao, who commenced his career at the bank as a clerk, noted that his family supported his decision to step down.
The news about Brandao’s resignation was followed up by the information indicating that Luiz Carlos Trabuco would assume Brandao’s position in the board of directors. At the time Luiz Carlos Trabuco was, and still is, the CEO of the bank. Luiz Carlos Trabuco’s appointment to succeed Brandao quelled speculations about Brandao’s succession. Brandao is convinced that Luiz Carlos Trabuco is a natural for leadership and would face no problems assuming the duties he previously discharged.
Read more: O Bradesco, de Brandão a Trabuco
A while ago, it was a non-issue for Bradesco’s serving chairpersons to discharge duties as presidents. That was when Bradesco was still a medium-sized institution. Presently, Bradesco’s mammoth size would make it impossible for a single executive to double up as chairperson and president for an extended period. In addition, Luiz Carlos Trabuco assumed the presidency in March 2009, and he is expected to resign in March 2018. The two coupled has made Bradesco’s appointing authority to announce its intention to appoint a new CEO.
Part of Bradesco’s 1.4 million shareholders will be meeting in March, and after the board of directors will hold its first meeting according to jusbrasil.com.br. However, Bradesco must submit the name of Luiz Carlos Trabuco’s successor to the Central Bank 30 days before the shareholders’ meeting.
As the bank prepares to unveil the name of its new chief executive officer, insiders have kept the public busy with information, information pertaining to Luiz Carlos Trabuco’s succession contest. According to reliable sources, seven Bradesco’s high-flying executives are in line to succeed Luiz Carlos Trabuco. They include
• Mauricio Machado de Minas
• Alexandre da Silva Gluher
• Domingos Figueiredo Abreu
• Josué Augusto Pancini
• Marcelo de Araujo Noronha
• Octavio de Lazari, and
André Rodrigues Cano
The seven are considered high-flying as they are in charge of the bank’s subsidiaries, departments, etc. For example, Noronha is in charge of Bradesco BBI, Lazari is the president of Bradesco Seguros, Minas is responsible for the bank’s IT department, etc.
About the Outgoing CEO, Luiz Carlos Trabuco
The 17-year-old Luiz Carlos Trabuco embarked on a career at Bradesco in 1969. Bradesco hired the young Luiz Carlos Trabuco to discharge clerical duties. He had not attended college at the time he commenced work. However, as he progressed in his career, Luiz Carlos Trabuco attended Sao Paulo State University where he pursued philosophy.
Before assuming the presidency of Bradesco, Luiz Carlos Trabuco was in charge of Bradesco Seguros, a subsidiary of the bank. The subsidiary is in charge of Bradesco’s insurance business. As the president of Seguros, Luiz Carlos Trabuco revolutionized the unit, increasing its revenue contribution to its parent company.
Learn more about Luiz Carlos Trabuco Cappi: http://www.valor.com.br/financas/5194121/trabuco-apesar-das-incertezas-investidores-acreditam-no-pais