Lazaro de Mello Brandao, the long-standing chairman of Bradesco bank, is set to retire as announced by the company in December last year. Brandao was one of the longest-serving banking chairmen in the entire world and led an impressive career of over forty years working for Bradesco. With his leave, Bradesco will be experiencing a change in leadership. The company now has to elect a new chairperson to the position, which has a tradition at Bradesco dictates, will be among the current people working at the company.
Bradesco has always believed in following this tradition to uphold the values that they possess. All of the people at notable positions in the company have earned it through this method. The company always wanted its higher-ups to have a strong connection with the employees, and adhere to the values. Keeping all of these factors in mind, Luiz Carlos Trabuco Cappi was asked to take up the position of chairman of the company. Trabuco previously served as the CEO of the company and held that position for an incredibly long period. He was regarded as one of the best people for the job, and now is going to be able to lead the company from a much better position.
This, however, leaves the position of CEO of Bradesco open. As tradition follows, this too will be one of the current employees of Bradesco. Until the new CEO of the company is elected, Trabuco will be required to fill in both the positions. This will put a lot of pressure on Trabuco, but the company has immense faith in him that he will be able to carry out both roles with ease.
There is a lot of speculation as to who the potential CEO of the company will be, but as of right now, Bradesco has not yet let out any word of their plans. The company will most likely announce the new CEO at the annual meeting of the shareholders, which will be held just before the close of the financial year. The company is required to let however the Central Bank of Brazil know who the new leader to Bradesco is as part of a mandatory procedure prescribed by the Brazilian government. This, according to the mandate must be done thirty days before the shareholder meeting is held.
Trabuco has had an impressive career. He is incredibly highly regarded in the field of finance in Brazil and is considered to be one of the most influential people in the banking sector therein. Bradesco is the only company that Trabuco has worked at, and is one which he started working at very early on. He worked hard to climb up the ranks at Bradesco and went from working at their banks to the insurance segment of Bradesco, ultimately leading up to the head office of the company.
Ever since Trabuco took over as the CEO of the company, Bradesco has witnessed an incredible amount of growth. When Trabuco took over as the CEO of the company, Bradesco was at the second position in the banking sector. Instead of focusing on gaining the number one spot, he decided to focus his efforts on developing and improving the range of services that are provided to people all over Brazil. He also was behind the acquisition of the Brazilian branch of HSBC, which was regarded as one of the biggest banking deals of the year. With these changes to the way the company functioned, Bradesco rose to the number one position, taking over its competitors. There is no doubt that Trabuco’s impact on the company has been tremendous. As the chairman, it is certain that he will be able to lead the company in a direction that is favorable for their growth.
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