Up to October 11, 2017, Lazaro de Mello Brandao was the chairman of the of the board of directors of Banco Bradesco SA, the second largest private bank in Brazil. The retired executive assumed the chairmanship role in 1991, following the demise of the then chairperson, Amado Aguiar. At the time of ascension to the chairmanship, Brandao was the president of Bradesco, a role he had held for 10 years. Upon being appointed to succeed Aguiar in 1991, Brandao did not relinquish his position as the president of Bradesco; He held both roles until 1999 when he stepped down as the CEO of the Osasco-based Bradesco. Brandao, however, remained in charge of the board of directors, representing the Bradesco Foundation—the controlling shareholder of Bradesco.
According to globo.com Brandao’s recent resignation was a personal decision made in the interest of Bradesco, especially its leadership. In a news event that covered his departure, the 91-year-old Brandao stressed that his stepping down would allow Bradesco to appoint a younger executive to take over the leadership of the board, and as a result, fostering the spirit of continuity and renewal, valued at the bank. Although Bradesco’s board will miss out on Brandao’s expertise and business acumen, some holding companies associated with Bradesco such as Bradespar SA will continue enjoying Brandao’s managerial proven knowledge.
Read more: Trabuco to Take Over the Presidency of Bradesco’s Board
Taking over from Brandao is Luiz Carlos Trabuco, who is also the serving CEO of the bank. Luiz Carlos Trabuco joined Bradesco in 1969 and was appointed the CEO of the bank in March 2009. Luiz Carlos Trabuco is currently the chairman and CEO of Bradesco. He, however, is scheduled to retire in March, and the bank is scouting for a new CEO. Bradesco, according to Luiz Carlos Trabuco, will appoint its fifth CEO from among its high-ranking executives.
The mention of the words “high-ranking executives’’ prompted journalists to keenly analyze the bank’s current leadership in an attempt to make educated guesses regarding Luiz Carlos Trabuco’s successor. Bloomberg’s Felipe Marques and Cristiane Lucchesi listed names of prospective CEOs. They include
• Mauricio Machado de Minas
• Alexandre da Silva Gluher
• Domingos Figueiredo Abreu
• Josué Augusto Pancini
• Marcelo de Araujo Noronha
• Octavio de Lazari
• André Rodrigues Cano
They are referred to as “high-ranking executives” because they are in charge of Bradesco’s critical department and subsidiaries. Cano, Minas, and Abreu are in charge of the bank’s human resources, IT, and treasury and lending departments respectively. Lazari is the head of Bradesco Seguros, Bradesco’s subsidiary in charge of its insurance business. Lazari holds the same position that Luiz Carlos Trabuco held prior to being named the CEO of Bradesco.
More on Luiz Carlos Trabuco
The executive had a modest start at Bradesco: The bank hired him to discharge clerical duties. Luiz Carlos Trabuco was only 17. In fact, he had not attended college or any other institution of higher learning. While he acquired practical skills at Bradesco, Luiz Carlos Trabuco attended Sao Paulo State University, where he pursued philosophy. He later joined Fundação School of Sociology and Politics of São Paulo, where he attained a postgraduate certificate in socio-psychology.
Luiz Carlos Trabuco has held various influential positions at Bradesco. He was, for instance, the president of Bradesco Seguros between 2003 and the time he assumed the presidency of the bank. At the helm of Bradesco Seguros, he initiated an exponential growth that saw Bradesco Seguros double in size. The subsidiary, as a result, increased its revenue contributions to its parent company by over 10 percent. As the CEO of Bradesco, he advised the bank to purchase the Brazilian branch of HSBC. While Bradesco spent $5.2 billion to accomplish the acquisition, pundits regard it as among the best inorganic growth strategies performed by the bank in the recent past.
Learn more about Luiz Carlos Trabuco: http://economia.estadao.com.br/noticias/negocios,estamos-com-o-dedo-no-gatilho-para-emprestar-dinheiro-diz-presidente-do-bradesco,70002160257 http://www.camar.sp.gov.br/images/imagesnoticias/851/principal.html