The 91-year old Brandao left Bradesco Bank after his tenure of more than 25 years at the institution. Lazaro Brandao is among the most elderly serving chairmen of banks globally. Brandao was the third president of the second largest privately-owned banking institution in Brazil. Brandao started his career at Bradesco when he was 16 years old in 1943 as a clerk. According to Bloomberg’s data, Brandao is one of the most elderly leaders in the banking sector. The executive announced his resignation as the chairman of the firm after what his family jokingly terms as being his time to do so.
Brandao’s resignation and appointment of Luiz Carlos Trabuco Cappi as the new chairman of the institution meant that Trabuco’s place remained vacant. Therefore, a succession race resulted that would see Trabuco’s former position as the CEO filled. In the meantime, Luiz Carlos Trabuco Cappi will keep holding the two jobs as chairman and CEO till the bank selects a new CEO.
Brandao acknowledged the need to restructure the institution’s board to ascertain the probability for continuity during a press meeting with journalists. Brandao said that it was his sole decision to step down as the bank’s chairman. However, the veteran maintained to retain his control over some of the bank’s holding groups.
During his time as the president, Lazaro maintained a leadership culture that gave room to promote existing talent within the bank other than outsourcing for a qualified human resource to replace retired executives. Bradesco will still maintain the tactic when deciding Trabuco’s replacement as the CEO. Reliable sources reveal that there are seven leading executives within the organization from which the firm would select its new CEO. However, the process of selecting the CEO remains a private matter to the company until their announcement.
Read more: At age 91, Lázaro Brandão resigns from Bradesco’s board of directors
The list of probable candidates for the CEO post includes Alexandre, Mauricio Machado, Domingos Abreu, Octavio, Noronha, Andre Cano and Pancini. Mauricio manages the IT department of the bank, and he assisted in the acquisition of HSBC alongside Trabuco Cappi. Alexandre is the chief risk officer and also played party in the purchase of HSBC Holdings. Domingos heads the lending and treasury departments of the banking organization. Pancini directs the high income and network segment of the bank. Noronha leads the investment and corporate section of Bradesco while Lazari Octavio heads the insurance unit. Lastly, Cano Andre manages the human resources sector and is among the latest additions to the leadership.
According to Luiz Carlos Trabuco Cappi, the succession process will be a standard and routinely procedure. The procedure would lead to the selection of a CEO who reflects the complexity, large size, and segmentation of the company. There is, however, no defined profile for the new CEO hence the process would be based on leadership skills and own light as per Trabuco.
Luiz Carlos Trabuco Cappi graduated from Sao Paulo University. From 2000 to 2003, Luiz worked with ABRASCA and later joined Grupo Bradesco Seguros from March 2003. Luiz Carlos Trabuco Cappi became the CEO of Bradesco from March 2009. He then became the vice president of the firm, and he is now the fourth-serving chairman of the bank.
It is clear that Cappi’s presence in Bradesco was predetermined. He springs from the same area as the first chairman of the bank. He has risen the ranks up to becoming the president. His determination and excellent leadership qualities are the chief determinants of his success at the institution. He has a vast knowledge in leadership and financing. He identifies and uses current market indicators to analyze the future of firm’s performance in the investment sector. With his dedicated leadership, Bradesco has the assurance of its lead in the investment sector.
Learn more about Luiz Carlos Trabuco Cappi:http://www.infomoney.com.br/blogs/bolsa/o-investidor-de-sucesso/post/7002925/quem-substituira-trabuco-comando-bradesco-nomes-estao-cotados-tudo-pode