Bradesco represents one of the most extensive banking and financial service institutions in Brazil. It maintains 5, 314 branches all over the country along with more than 4, 800 service branches, and over 38, 000 “Bradesco Expresso” or Express units.
Bradesco’s renowned 91-year old chairman Lazaro de Mello Brandao just bowed out after 25 years of service which prompted a succession battle in the country’s second-biggest bank according to market value. At present, Luiz Carlos Trabuco Cappi serves as the chief executive officer and chairman until the board votes on the new CEO in March.
Who is Luiz Carlos Trabuco Cappi?
Born on October 6, 1951, Luiz Carlos Trabuco Cappi grew up in Marilia (Sao Paolo), Brazil. He studied at the reputable School of Philosophy, Sciences, and Literature of Sao Paolo. Luiz Carlos Trabuco Cappi began a colorful career at Bradesco in April of 1969. He became a department director in 1984. 14 years after (March of 1998), he earned the position of managing officer. Within a year, Luiz Carlos Trabuco Cappi got his promotion as executive vice president. Luiz Carlos Trabuco Cappi became CEO of Bradesco on March 10, 2009. He also sits on the bank’s board until this day.
Lazaro de Mello Brandao
The grand old man of Bradesco SA, Lazaro de Mello Brandao, joined the bank as an ordinary clerk in 1943. He became one of the only two chairmen and four chief executive officers of Bradesco. Mr. Brandao held this post for 18 straight years. According to Bloomberg, Lazaro de Mello Brandao also holds the distinction of being one among the oldest banking magnates in the world.
Mr. Brandao left a distinct legacy to the company. He wanted to rekindle and sustain the management tradition of promoting current executives to the higher position instead of hiring other persons from outside. The company will select from seven of the top executives as a replacement for Lazaro de Mello Brandao. CEO Luiz Carlos Trabuco Cappi will respect the bank’s group of executives who have demonstrated their loyalty, length of service, and capabilities.
The Company declared the day before the stepping down of Mr. Brandao that he will keep the post of chairman of parent corporations of the entire group. It includes Fundação Bradesco along with the BBD Participações.
Read more on g1.globo.com
During that event when Lazaro de Mello Brandao stepped down, the company’s shares dropped to 36.63 or 1.2%. However, the bank recovered and increased 39% to date. In 2016, the bank’s board revised its bylaws and extended the age cap for chief executive officers from 65 to 67 years. This policy served as the basis for Trabuco to designate a new man with the help of this financial institution. Meanwhile, Mr. Brandao stated his fulfillment having served the company for 75 years. He will stay on as head of an auxiliary group of Bradesco.
The following candidates for CEO include:
Mauricio Machado de Minas – Information Technology Department
Alexandre da Silva Gluher – Bradesco chief risk officer
Domingos Figueiredo – Treasury and Lending Departments
Josué Augusto Pancini – Bank Bank’s Network and High Income Segment
Marcelo de Araujo Noronha – Corporate and Investment Banking, Bradesco BBI, and Card Operations
Octavio de LazariCompany Insurance Unit
André Rodrigues Cano Human Resources Department Manager
All of the seven aspirants seem fit for the CEO post.
The eight board members consist of ex-bank executives and members of the Aguiar clan (billionaire inheritors of Bradesco SA Bank). At present, the Board holds an unoccupied position with the rise of Luiz Carlos Trabuco Cappi. He revealed of plans to increase the membership although management did not define the parameters.
Visit terra.com.br for more information about Luiz Carlos Trabuco Cappi.