At 91 years old, Lazaro de Mello Brandao is stepping down as the chairman of Bradesco bank after fulfilling that role for twenty-five years. He will be replaced by Bradesco Bank’s current CEO, Luiz Carlos Trabuco Cappi. Bradesco Bank is Brazil’s second-largest bank by market value.
While Brandao will remain in charge of some of Bradesco’s holding companies, it was his decision to resign. Brandao created a culture in Bradesco of promoting from within an organization instead of outside of that and that it does not plan to change the culture with the change in management, including with hiring the new CEO from within the company’s ranks.
This was a highly anticipated move and caused a lot of speculation about how the bank would shift and who would take Luiz Carlos Trabuco Cappi’s place as Chief Executive Officer.
It had been expected for Luiz Carlos Trabuco Cappi to step down as CEO, but not until 2019. After all, Bradesco bank’s charter dictates the CEO must retire at the age of 65, which is one year less than Luiz Carlos Trabuco Cappi’s current age. While he had been granted a waiver for this year, he was expected to step down. Instead he will take Brandao’s place as chairman for Bradesco Bank.
Among candidates for the new CEO are Mauricio Machada de Minas, who is currently in charge of the bank’s IT department and Alexandre da Silva Gluher, who is Bradesco’s chief risk officer.
Until a new CEO can be appointed, Luiz Carlos Trabuco Cappi will hold both positions. Bradesco expects to appoint a new CEO within 30 days from their current talent pool of candidates. Domingos Figueiredo Abreu is another candidate. He is currently in charge of the bank’s treasury and lending departments. Another candidate is Josué Augusto Pancini: Pancini, a man responsible for Bradesco’s branch network and its high-income segment. Marcelo de Araujo Noronha, another candidate, is in charge of Bradesco’s corporate and investment banking. Octavio de Lazari is another candidate for CEO, despite being the most recent hire to Bradesco’s upper management team. He was appointed last May to the lender’s insurance unit and is responsible for a third of the bank’s results. The last candidate for Chief Executive Officer is André Rodrigues Cano, who is in charge of Bradesco’s human resources department.
While the candidate has not been chosen or announced yet, there is a lot of speculation that Mauricio Minas is the top candidate for the job.
Luiz Carlos Trabuco Cappi graduated from the School of Sociology and Politics Foundation in San Paulo with a degree in Philosophy and a post-graduate degree in Socio-Psychology. For the past 48 years, he has dedicated his life to the Bradesco Organization. In addition to being CEO, he has been Chairman of the Board of Directors of Odontoprev SA, Chairman of the Marketing and Procurement Committee of the Brazilian Association of Real Estate Credit, and President of the National Private Pension Association. He is considered one of the most sought-after executives by foreign investors and the future of Bradesco is looking up with Luiz Carlos Trabuco Cappi as chairman.
Find more about Luiz Carlos Trabuco Cappi; http://epocanegocios.globo.com/Empresa/noticia/2017/10/trabuco-o-importante-agora-e-olhar-para-os-desafios-do-futuro.html