Lazaro de Mello Brandao, the 91-year-old chairman of Bradesco bank, hit the headlines when he announced his decision to step down from the position of the chairman of the board in the second largest lender in Brazil. Mr. Lazaro, who served in the bank for 25 years, came to this decision after the responsibilities that come with this position began to take a toll on him. The news triggered a lot of speculations on the possible lineup of successors. The former chairman upheld Bradesco’s traditions where the existing bank executives stand a better chance of succeeding the outgoing leaders. Bradesco gives an opportunity to their people during promotions other than sourcing candidates externally.
Luiz Carlos Trabuco Cappi held the position of the CEO of the Bradesco bank while also serving as the chairman of the board until March. Luiz Carlos began working in the bank when he was only seventeen years. Unlike other executives of the bank, Luiz studied Sociology and Politics at the University of Sao Paulo. Luiz Carlos Trabuco graduated with a bachelor’s degree in socio-psychology and a Ph.D. in philosophy. Luiz Carlos Trabuco was born in 1943 in the town of Marilla and launched his career in Bradesco bank in 1981 as clerk. He is the third chairman of the Bradesco bank and the fourth executive to ever serve in the bank.
The former chairman of the bank will continue to serve in the holding corporations of the bank. According to Mr. Lazaro, Bradesco’s top leadership should be renewed after every few years to ensure the continuity of the bank. The former chairman continued to note that it was his personal decision to step down from the position of the chairman of the board. According to istoe.com.br Lazaro Brandao received positive feedback from his family when he broke the news of his resignation. He said that he has no regrets whatsoever about his departure after serving Bradesco in various capacities for 75 years.
Octavio de Lazari was appointed to replace Luiz Carlos Trabuco as the President of the bank. Octavio previously served as the Chief Executive Officer of the insurance division of the bank. Other nominees that sought to replace Luiz Carlos Trabuco include Machado de Minas who served in the Information and Technology division of the bank. Mr. Machado joined Bradesco bank in 2009 from the CPB Braxis SA. Another candidate who was eying the position of the President of Bradesco was Alexandre de Silva Gluher who currently serves as the Chief Risk Officer. Mr. Alexandre is among the individuals who have served in Bradesco for many years.
Other candidates include Domingos who serves in Treasury and Lending division. He has been serving in Bradesco for the last 36 years. Josue Augusto was another potential candidate for the position of the President. Mr. Augusto leads the branch network of Bradesco. He has been serving in Bradesco for the last 42 years. Marcelo de Araujo and Andre Rodriges were also in the list of nominees. Marcelo heads the investment and corporate banking while Rodriges heads the Human Resource department. Octavio de Lazari is the candidate that carried the day beating his colleagues on various aspects.