At 91 years old, Lazaro de Mello Brandao has been one of the oldest serving bank leaders in the world. Brandao has been serving as the chairman of Banco Bradesco SA for the past 25 years. Brandao started working as a clerk at the age of 16 years old in 1943. Over the years, he grew his career through the ranks, eventually becoming one of the two chairmen Bradesco has ever had. While serving as the CEO of the bank between 1981 and 1999, he made one of the four CEOs the bank has ever had. Brandao’s resignation from the coveted position at the second-largest bank by market value in Brazil has triggered a succession race at the bank. However, Brandao says there is need to renew Bradesco’s board to ensure continuity. While speaking to journalists on Wednesday, Brandao made it clear that it was his decision to resign, and jokingly added that his family had mentioned that his move was long overdue. His departure as the president of the bank does not, however, interfere with his role in some of Bradesco’s holding companies.
Banco Bradesco Succession Race
Over the years, Bradesco has fostered a culture of promoting executives from the bank’s existing ranks. Following the resignation of Brandao as president, Luiz Carlos Trabuco Cappi, the current CEO of the bank, is in running to take over his position.Luiz Carlos Trabuco Cappi will, therefore, hold the positions of president and CEO at the bank until March next year when a new CEO will be elected. This is according to a regulatory filing on Tuesday.
Additionally, given that Luiz Carlos Trabuco Cappi will be moving to a new position, his CEO role will most probably also be filled by another executive within the bank. Some of the contenders in running for the CEO role are Mauricio Machado de Minas (58, in charge of the IT department), Alexandre da Silva Gluher (57, Bradesco’s chief risk officer), Domingos Figueiredo Abreu (58, responsible for the bank’s treasury and lending departments), Josué Augusto Pancini (57, in charge of Bradesco’s branch network and the bank’s high income segment), Marcelo de Araujo Noronha (52, corporate and investment banking), Octavio de Lazari (54, insurance unit), and André Rodrigues Cano (59, human resources department).
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About Luiz Carlos Trabuco Cappi
Born in 1951, Luiz Carlos Trabuco Cappi is the outgoing CEO of Banco Bradesco. He joined the firm in 1969, and has grown in rank over the years. In 1984, he was a director at the bank before becoming a vice-president in 1999. He went on to become the Chairman of the Bradesco Seguros Group between 2003 and 2009, before being elected the CEO of the Bradesco Organization companies. In addition to his current role, Luiz Carlos Trabuco Cappi is the Vice-chairman of the Banco Bradesco SA board of directors. At the National Confederation of Financial Institutions (CNF), he serves as the chairman of the executive board and the board of representatives. Luiz Carlos Trabuco is also the chairman of the board Elo Participacoes SA. Additionally, he sits as a member of the boards of the Brazilian Federation of Banks and the Strategic Committee of Vale SA.
Luiz Carlos Trabuco is a graduate from the Faculty of Philosophy, Sciences and Letters of Sao Paulo. He pursued his postgraduate studies in Socio-Psychology at the Fundação School of Sociology and Politics, São Paulo. Over the years, he has worked in many other roles at institutions such as the Insurance Group, Bradesco Vida e Previdencia, Odontoprev SA, the National Association of Private Pensions, the National Academy of Insurance and Pension Plans, the Brazilian Association of Publicly-held Companies, and the Real Estate Credit and Savings Entities Association. Luiz Carlos Trabuco has also participated as a member of the Brazil-United States Forum coordinated by the Brazilian government docket of development, industry, and foreign trade.
Find more about Luiz Carlos Trabuco: https://economia.estadao.com.br/noticias/geral,prisao-dos-irmaos-batista-nao-impactam-risco-da-jbs,70001996105