Luiz Carlos Trabuco Cappi has taken over the chairman role at Banco Bradesco SA from Lazaro de Mello Brandao. Brandao has resigned from this position at the age of 91 years, having served in the same role for 25 years. He started his career at the age of 16 years old in 1943, worked hard over the years, and eventually became the number one employee of the bank. Brandao is one of the two chairmen, and one of the four CEOs, who have served at the bank so far.
He served as CEO of the bank between 1981 and 1999. His resignation has triggered a succession race at Brazil’s second-largest bank in terms of market value, placing Luiz Carlos Trabuco Cappi in line to take over the top job at the bank. During a session with journalists on Wednesday, Brandao confirmed he had willingly resigned from his post on Tuesday. He joked that his family welcomed the move asking what he had been waiting for anyway. Despite his departure as president of the bank, he will still keep his other roles in Bradesco’s holding companies. He will, therefore, be reporting to work at his usual office desk.
Future of Banco Bradesco SA
While announcing the way forward at Bradesco following Brandao’s departure as the chairman of the board, Luiz Carlos Trabuco Cappi informed journalists he would be holding both the position of chairman and CEO of the bank until March 2018, 30 days to the bank’s shareholder assembly. Consequently, because he is giving up his position as CEO, the position is open to other candidates. Luiz Carlos Trabuco Cappi informed listeners that the next CEO would most probably be chosen from internal candidates. Banco Bradesco is known to promote top executives within the bank to higher positions instead of seeking talent from outside. The top contenders for the CEO role are Mauricio Machado de Minas (58), André Rodrigues Cano (59), Alexandre da Silva Gluher (57), Octavio de Lazari (54), Domingos Figueiredo Abreu (58), Marcelo de Araujo Noronha (52), and Domingos Figueiredo Abreu (58). These top executives serves in different roles and departments such as IT department, chief risk officer, bank’s treasury and lending departments, branch network and the bank’s high income segment, corporate and investment banking, insurance unit, and human resources department.
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Given that he is taking over the top job at Banco Bradesco SA, Luiz Carlos Trabuco Cappi has proven himself not only in terms of knowledge and business acumen, but also in terms of leadership skills, He embarked on his career at the bank at the age of 18 years in 1969. Since joining the firm, he has risen through the ranks and held different positions through the years. He made the role of director at the bank in 1984, became a vice-president in 1999, and served as the chairman of Bradesco Seguros Group between 2003 and 2009, before rising to level of president of the Bradesco Organization companies in 2009. In addition to serving as the CEO and now chairman of Bradesco, he also serves in different capacities at other organizations. He is the vice chairman of the Bradesco’s board of directors, chairman of the board Elo Participacoes SA, chairman of the executive board and board of representatives of theBrazilian National Confederation of Financial Institutions (CNF), and also serves as a member of two other boards: the Strategic Committee of Vale SA and the Brazilian Federation of Banks.
Additional Work Experience
Luiz Carlos Trabuco Cappi has over the years also served in other organizations. He has offered his experience and insights at organizations such as Bradesco Vida e Previdencia, Brazil-United States Forum, the Insurance Group, the National Association of Private Pensions, and the Brazilian Association of Publicly-held Companies, among others. He pursued his postgraduate education at Fundação School of Sociology and Politics, São Paulo and has an undergraduate degree from the Faculty of Philosophy, Sciences and Letters of Sao Paulo.
Learn more about Luiz Carlos Trabcuo Cappi: https://www.istoedinheiro.com.br/o-bradesco-de-brandao-trabuco/