Although Lazaro de Mello Brandao may be an unknown banking executive that blends into the ranks of corporate Brazil, the 91-year-old has been the face of Bradesco, the second largest private bank in Brazil, for over 36 years. Having joined the bank in 1943—the same time that Bradesco came to being—Brandao served Bradesco in various capacities for 38 years after which he was named the second CEO of the bank succeeding Amado Aguiar, the founder of the banking institution. Apparently, Brandao’s performance as CEO impressed Bradesco’s management as he was appointed the second chairman after Aguiar’s resignation in 1991.
Doubling up as the chairman and president of Bradesco between 1991 and 1999, Brandao cemented Bradesco’s position as the leading private bank in Brazil. However, Brandao decided to resign on October 11, 2017, owing to his advanced age. His resignation speech indicated that his decision was made in the interest of the bank’s continuity. Brandao’s stepping down allowed the bank to appoint a more energetic younger chairperson. According to folha.uol.com.br Bradesco settled on Luiz Carlos Trabuco to take over from Brandao.
At the time of his appointment, Trabuco was the CEO of the bank, a position he ascended to in 2009. Even before he was named the new chairman of the board of directors of the bank, Bradesco was scouting for a new CEO as Trabuco’s tenure as the president is scheduled to end in March 2018. Although the appointment of a new CEO is a closely guarded affair at Bradesco, Trabuco’s statement during a media event that marked Brandao’s resignation intimated that Bradesco would elevate one of its leading executives to the presidency of the bank. Trabuco’s comment ignited speculations especially on who among Bradesco’s high ranking executives would be named the new CEO.
Bloomberg reported that seven executives at Bradesco are the frontrunners in the succession contest. They include Mauricio Machado de Minas, Alexandre da Silva Gluher, Domingos Figueiredo Abreu, Josué Augusto Pancini, Marcelo de Araujo Noronha, Octavio de Lazari, and André Rodrigues Cano. Obviously, the list is not exhaustive and the bank may surprise pundits by appointing a professional whose name does not feature above. In fact, Bradesco’s appointments of CEOs have always contradicted the expectations of many. Starting with Brandao in 1981, his name hardly featured among the frontrunners in the contest to succeed Amado Aguiar, and when it did, he was considered an underdog. The same occurred when Brandao resigned in 1999. Of the executives expected to succeed Brandao, Marcio Cypriano’s name was missing. However, he was named as the third CEO according to folha.uol.com.br. Even Luiz Carlos Trabuco was hardly mentioned when it was Cypriano’s time to step down. Surprisingly, Luiz Carlos Trabuco was appointed as Cypriano’s successor. While no one can state with certainty who will be Bradesco’s next CEO, one thing is clear: Bradesco will appoint a CEO from within its talent pool.
Luiz Carlos Trabuco is undoubtedly is respectable professional both at Bradesco and the Brazilian banking sector. Trabuco’s star at Bradesco has been rising ever since he joined the bank in 1969 as a clerk. He was only 18 and had not undergone any form of training. But as he discharged his duties at the bank, Trabuco gained practical experience and even had a chance to attend Sao Paulo State University where he pursued philosophy. He later attended Fundação School of Sociology and Politics. Trabuco’s professional experience coupled with his academic qualification enabled him to rise through the various ranks at the bank. Prior to being appointed CEO, Trabuco was the president of Bradesco Seguros, an insurance subsidiary of the bank. As the chairman, Trabuco will work with whomever the bank will name as the new CEO to uplift Bradesco to greater heights in the country’s banking sector.
Learn more about Luiz Carlos Trabuco: http://www1.folha.uol.com.br/mercado/2017/10/1926427-sucessao-no-bradesco-vira-alvo-de-aposta.shtml