The resignation of Lazaro de Mello Brandao as the Chief Executive Officer of Bradesco has left room for a highly anticipated decision of electing a new CEO. His exit has temporarily put Luiz Carlos Trabuco Cappi as the Bradesco’s Chief Executive Officer and Chairman. According to a regulatory filing, Mr. Luiz is expected to hold both positions until March 2018 when a new Chief Executive Officer will be announced. Although Brandao has exited Bradesco, he will still lead Bradesco’s subsidiaries.
Luiz Carlos Trabuco Cappi, Bradesco’s acting Chief Executive Officer, said Brandao’s resignation and his choice of his replacement were deliberate since he had already taken a look at his career. Mr. Brandao, 91, has an experience spanning 75 years and has been one of the only two chairmen at Bradesco and as one of the four chief executive officers. The next president of the bank will come from within the circles of Bradesco’s board members. Bradesco has a tradition of choosing executives from its pool of talent to run the group, instead of recruit one from the market. The process of choosing Brandao’s success will be a normal routine that will take in to account the talents that will execute Bradesco’s functions.
Trabuco says that the expectations for his deputy are not as defined, but one must exude leadership and own light. His rise to the helm of the company has left vacancies at Bradesco’s Board, which is comprised of eight members, Aguiar family members, and bank executives. Trabuco enjoyed the extension of his mandate as the chief executive officer thanks to the acquisition of HSBC. The bank had proposed the extension of age limit from 65 to 67 years, which pushed forward Trabuco’s exit. The announcement of a new chief executive officer is supposed to take place before the next assembly of Bradesco’s shareholders. There is much expectation to see who will take over as the CEO.
Possible Candidates for Bradesco’s succession
From its pool of talent comes Alexandre da Silva, 57, who Bradesco’s chief risk officer. He has worked in the bank since 1976. Mauricio Machado de Minas, 58, is in charge of Bradesco’s IT department and is the one behind Next, Bradesco’s digital-only bank spinoff. Other possible candidates include Domingos Figueiredo Abreu in-charge of lending and the treasury of the bank, Josue Augusto Pancini responsible for the group’s high-income segment and branch network. Octavio de Lazari is a possible successor and leads Bradesco’s insurance unit. He recently joined Bradesco’s higher management team.
About Luis Carlos Trabuco Cappi
Luiz Carlos Trabuco Cappi is currently the Chief Executive Officer of Banco Bradesco. He rose to the position in 2009 and also served as the company’s Executive Vice President. He is also the Chief Executive Officer at Bradesco Seguros. Luiz Carlos Trabuco Cappi was Banco Bradesco’s departmental director between 1984 and 1992, and he rose to the position of managing director. Luiz was a member of the ArcelorMittal Brazil Management Board.
Luiz Carlos Trabuco Cappi’s career started his career at Bradesco in April 1969. He became Bradesco Vida de Providencia’s president until 1998. He served at Grupo Bradesco Seguro’s president from 2003. In December 2009, Luiz became the chairman and director of Odontoprev S.A. he is also the director of Bradespar S.A. He was once a Non-Executive Director and Banco Espiritu Santo between 2009 and May 2010.
Luiz Carlos Trabuco Cappi attended the University of Sao Paulo’s School of Sociology and Politics. He graduated with a post-graduate degree from Philosophy, Sciences, Languages and Arts faculty.