Banco Bradesco SA is in a critical phase of selecting a new chief executive officer. The office will fall vacant sometimes in March next year when Luiz Carlos Trabuco will resign to serve only as the chairman of the board of directors of the second largest private bank in Brazil. Presently, the business leader is both the CEO and the chairman of the bank; he assumed the latter when Lazaro de Mello Brandao resigned mid last month.
Trabuco is not the first executive to hold both the crucial positions at the same time. The founder of the bank, Amado Aguiar, was both the CEO and the chairman of the bank. Brandao relieved him of the presidency duties in 1981. Ten years later, Brandao also took over from him the chairmanship of the bank. Starting in 1991 until 1999, Brandao was both the president and the commander of the board of directors of the bank. He resigned as the president of the bank in 1999 allowing Marcio Cypriano to preside over the bank as the CEO. However, he continued discharging his duties as the chairman of the board until his resignation on October 11. Brando, who is over 90 years, was quick to state that his departure was willful; it came out of his conviction to the bank’s smooth continuity. Indeed, the 66-year-old Trabuco is suited to preside over the board of directors. The chairman of the board represents Fundação Bradesco which is the controlling shareholder of Banco Bradesco SA.
Brandao, who is the holder of the no. 1 employee badge at Banco Bradesco, retired after serving the bank for a whopping 74 years. In fact, he began working at the bank when the financial institution was just starting out in 1943. Brandao joined the bank as a clerk. Although Brandao did not complete his fundamental studies, his track record is a testimony he was devoted to establishing Bradesco not only as the leading bank in Brazil but also in Latin America and the world. His regular calls for promoting results-oriented employees of the bank to preside over leadership ranks within the bank is what is informing the bank’s next choice of the chief executive officer.
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Sources revealed to Bloomberg that one the following seven professionals is likely to take over from Trabuco.
• Mauricio Machado de Minas
• Alexandre da Silva Gluher
• Domingos Figueiredo Abreu
• Josué Augusto Pancini
• Marcelo de Araujo Noronha
• Octavio de Lazari
• André Rodrigues Cano
Of course, the seven are Bradesco’s employees presently in charge of essential departments. For example, Cano is the head of the human resources department, Lazari is the president of Bradesco Seguros, di Minas is in charge of Bradesco’s IT department and the list goes on.
Trabuco joined Bradesco in 1969. He was a teenager then—only 18-years-old. He served the institution in the capacity of a clerk and was promoted successively until he achieved his significant breakthrough in 2009 when he was named as the overall president of the bank.
Trabuco was appointed unopposed to chair the board of directors. An analysis of his track record indicates that Trabuco deserved nothing short of the recent appointment. His name prominently features in large transactions undertaken by the bank. For example, he is credited with overseeing the bank’s purchase of the Brazilian branch of HSBC for over $5 billion. He is also the man behind the establishment of the award-winning Unibrad Corporate University.
Luiz Carlos Trabuco’s work speaks volumes about his abilities as a leader. In fact, in 2015, the then Brazil’s president requested him to be his point man in the country’s Ministry of Finance; he declined the generous offer choosing to serve Bradesco.
Learn more about Luiz Carlos Trabuco: https://g1.globo.com/economia/negocios/noticia/sucessao-no-conselho-do-bradesco-foi-um-ato-planejado-diz-trabuco.ghtml