Luiz Carlos Trabuco Is Bradesco’s New Choice Of Chairman Of The Board Of Directors Of The Bank

Lazaro de Mello Brandao’s career at Banco Bradesco SA spanned 73 years. Over the period, he held various positions at the Osasco based bank. Notably, he was the CEO of the bank between 1981 and 1999. Also, Brandao was the chairman of the board of directors of the bank between 1991 and 11 October 2017 when he wilfully stepped down. Between 1991 and 1999, Brandao was both the chairman of the bank and the president; owing to the position of Banco Bradesco SA in the Brazilian financial sector (second-largest closely held bank), Brandao was among the most powerful men in Brazil.

Brandao’s resignation came a few months before the end of the current CEO’s tenure in office. Luiz Carlos Trabuco will leave Bradesco’s presidency office sometimes in March in the next year. However, with Brandao’s resignation, the bank elevated Trabuco to assume office as the new chairman. As the bank prospects for a new CEO, Trabuco will double up as the chairman and CEO of the bank. Trabuco was appointed the president of the bank in March 2009.

Bradesco is taking its time to select Trabuco’s successor. The bank has been categorical that Trabuco will be replaced by one of Bradesco’s high ranking executives. Although the bank had the option of casting its net wider by prospecting for a new president both in Bradesco and outside the bank, Bradesco has chosen to limit itself to its pool of employees according to g1.globo.com. Although the move may be seen as denying the bank fresh management styles and ideas that come with leaders bred in other institutions, Bradesco is hell-bent on motivating its staff by appointing one of them to steer the bank.

Although the bank has not declared who will take over from Trabuco, the announcement that whoever will replace him is currently a high ranking executive at the bank made things easy for analysts. They sampled a few executives whom they thought stood a high chance to lead Bradesco. They include

• Mauricio Machado de Minas
• Alexandre da Silva Gluher
• Domingos Figueiredo Abreu
• Josué Augusto Pancini,
• Marcelo de Araujo Noronha
• Octavio de Lazari
• André Rodrigues Cano

They are currently leading various departments or holding essential responsibilities at the bank. For example, de Minas, Cano, and Abreu are in charge of the IT department, the human resources department, and the bank’s treasury and lending departments respectively. Gluher is Bradesco’s chief risk officer. Noronha and Lazari are in charge of Bradesco BBI and Bradesco Seguros respectively. Additionally, they have worked at the bank for a significant period.

Read more: Trabuco: Despite the uncertainties, investors believe in the country

Trabuco and the immediate former chairman are birds of a feather. They both embarked on careers as clerks at the bank albeit at different times; Brandao in 1943 and Trabuco 26 years later. However, their rise through the ranks of the bank is comparable on folha.uol.com.br. Both ascended the corporate ladder eventually holding the two crucial positions (the presidency and chairmanship) at the pinnacle of the institution.

Between 2009 and last month when Brandao was the chairman and Trabuco the president, the two worked in harmony to realize various achievements. The bank undertook the most significant milestone in 2015 when it purchased the Brazillian branch of HSBC for $5.2 billion. That year, the purchase went down in financial records as the most significant transaction. Also, the purchase rejuvenated Bradesco’s mission to regain the private bank’s market leadership from Itau Unibanco.

However, while Brandao did not complete his fundamental studies, Trabuco boasts of a philosophy degree certificate from the SAO Paulo State University (UNESP). Also, the new chairman boasts of a postgraduate certificate in Socio-Psychology from the Fundação School of Sociology and Politics.

Visit brasil247.com for more information about Luiz Carlos Trabuco.