It is the end of an era in one of Brazil’s oldest banking institution. Longtime chairman, Lazaro de Mello Brandao, is set to resign after announcing his resignation after over two decades of dedicated service to Banco Bradesco. Although this news came as a surprise, Brandao is one of the oldest chairmen in the banking sector.
His resignation has aroused succession races with several names consider to succeed the 91-year old. However, before a successor takes the seat at the helm, the current chief executive officer, and vice president, Luiz Carlos Trabuco are set to take over officially until March 2018. The set date is when the new chairman is set to take up the mantle although speculations point to an early appointment. The announcement will come 30days from the annual general meeting with shareholders and investors. According to Luiz Carlos Trabuco Cappi, the succession process of the organization was a lengthy procedure due to the firm’s size and complexity. However, for the time being, the financial institution is in the safe hands of Trabuco who will act as chairman. By Brandao picking him as a replacement, Trabuco was quick to attribute his stellar career journey as a reason.
The 66-year old is the perfect epitome of hard work and dedication. This is because the whole career is a dedication to working for Brazil’s second-largest bank. His simple past in banking began as a clerk for Bradesco at the tender age of seventeen. Twenty years later, Trabuco’s promotion to marketing director came after working his way up through various assignments. As the marketing manager, Bradesco’s communication network was significantly improved with the bank enjoying a friendly media relationship. His eight-year tenure as marketing manager came to an end in 1992 and he became CEO of Bradesco’s pension firm. He did not intend to stop there, and his stint at the pension came to an end, and he was elevated to Managing Director of Bradesco. His talents are sought after, and a year later, Trabuco assumed his position as Executive Vice president of the board of directors.
The Brazilian native’s excellent business and leadership skills are a compliment to his conscious experience and educational background. He is a graduate of UNESP with a degree in Socio-Psychology. Several accolades are in his name with him being ranked among the most influential people in Brazil. As the current head of the most extensive bank in Latin America, it is natural to see why. His experience in banking spans over 30 years, and this has bestowed him with excellent business acumen that’s mirrored by his success.
Although speculations point to direct ascension to Chairman of Luiz Carlos Trabuco, his bid may fall short if other directors are considered. Six directors are disputing for the seat of chairman. Key among them is treasury and credit chief Domingos Figueredo de Abreu, human resources’ Josue Augusto Pancini and service vice president Octavio of Lazri Junior. Additionally, Alexandre da Silva Gluher is considering the position as having more experience in the bank. He is the director of investor relations. All directors have served the institution in different capacities and may stand a chance at taking the seat.
Although the culture of appointing the chairman of the board is dying under Trabuco’s leadership, it seems he will eventually be elected a successor. However, the potential for a dispute arising cannot be overlooked. If it so happens then, another member can succeed. Either way, Trabuco’s experience and loyalty to Bradesco will have a significant influence on who gets to lead Bradesco. That has yet to happen, and now it’s only a wait and sees matter. Learn more:https://www.jusbrasil.com.br/topicos/105363091/luiz-carlos-trabuco-cappi