The 74-year-old Banco Bradesco SA with a capital base of $413 billion is among the leading institutions in Brazil that professionals in banking, finance, insurance, etc. desire to join. Although the bank is currently searching for a new CEO, non-Bradesco’s employees were disappointed to learn that the bank had made up its mind to reserve the top seat for one its staff.
While Bradesco has over 100 thousand employees, only seven of them are at the frontrunners in the race to succeed the outgoing CEO, Luiz Carlos Trabuco. The seven include André Rodrigues Cano, Octavio de Lazari, Marcelo de Araujo Noronha, Josué Augusto Pancini, Domingos Figueiredo Abreu, Alexandre da Silva Gluher, and Mauricio Machado de Minas. The seven are likely to be interviewed for the soon to be vacant position.
Lazaro de Mello Brandao
Brandao was the chairman of Bradesco starting in 1991 until October 11, 2017, when he resigned. In a news event covered by Bloomberg’s journalists, the 91-year-old Brandao emphasized that he is proud of his 74-year-career at the Osasco based bank. Also, Brandao stated that he stepped down wilfully in the interest of continuity and renewal of the board. Apart from serving the bank as chairman, Brandao was also the CEO of the institution between 1981 and 1999. He was a vice president prior to his appointment in 1981. Brandao joined the bank in 1943; Bradesco (known then as Banco Brasileiro de Descuentos SA) hired him to discharge clerical duties.
Throughout his career, Brandao believed in the talents and professional abilities of Bradesco’s employees. Although there are numerous ways of rewarding skills, as a leader, Brandao opted for promotions of high ranking Bradesco’s staff to various positions of leadership within the bank. In fact, it is Brandao’s philosophy that informed the bank’s recent decision to replace Trabuco with one of Bradesco’s high ranking executive.
Read more: O Bradesco, de Brandão a Trabuco
As the CEO and chairman of Bradesco, Brandao put the bank on the map according to folha.uol.com.br. For instance, he worked alongside the third CEO of the bank, Marcio Cypriano (who was the president of the bank for ten years and resigned in 2009) to implement an inorganic growth strategy. The duo led the bank in purchasing ten banks including Spanish BBVA, Boavista, and BMC. Also, they channeled a lot of resources into opening new branches leading to the doubling of the volume of credit.
When Trabuco was appointed the CEO of the bank in March 2009, Banco Bradesco SA was reeling from dethronement as the leading private bank in Brazil. The merger between Banco Itaú and Unibanco to create Itaú Unibanco Holdings SA pushed Bradesco to the second place. Although the occurrence bothered Brandao, he remained optimistic that Bradesco would regain its “rightful” place. Perhaps that is why he gave Trabuco a go-ahead to purchase the Brazilin branch of HSBC in 2015. The transaction saw Bradesco spent over $5.2 billion. But that was the cost Bradesco was willing to incur to beat Itaú Unibanco, or at least edge closer.
Luiz Carlos Trabuco
Even before the bank appointed him the chairman, it was evident that he was the best-suited candidate to take over from Brandao. Presently, he has been at the bank for close to 48 years with different executive position especially president. He understands the bank’s culture and how to leverage it to inspire growth and better service delivery. His career has been marked by numerous awards and recognitions which speak to his performance as an executive. The Sao Paulo State University alumnus won the Don Quixote Trophy in 2009. Recently, Forbes Magazine recognized him as one of the “Best CEOs in Brazil.” The sky is the limit for Trabuco as he embarks on the chairmanship duties.
Search more about Luiz Carlos Trabuco: https://g1.globo.com/economia/negocios/noticia/sucessao-no-conselho-do-bradesco-foi-um-ato-planejado-diz-trabuco.ghtml