Lazaro de Mello Brandao recently decided to retire from his position as chairman of the board at Banco Bradesco. He had held the position of chairman for over 25 years, and, at 91 when he made the decision to step down, was one of the oldest acting bank chairmen still in service. He had worked his way up over the course of more than 40 years with Bradesco, starting out as a simple clerk, and over the course of his long career, has brought significant success to the company. Brandao had chosen Luiz Carlos Trabuco as the board’s new chairman, which was made effective immediately. Luiz Carlos Trabuco, the current chief executive officer of the company, will be naming his own successor in May 2018, but, until that time, he will hold both positions.
The Time to Appoint a New CEO is Fast Approaching for Banco Bradesco
The bank’s current chief executive officer will be selecting his successor in March. The talent pool for the new CEO is by no means shallow, and there are numerous executives itching for a shot at the prestigious position. The race will likely come down to a number of the company’s highest-ranking executives and board members, with a strong focus on the success of the company and its unique employee culture.
Since Lazaro de Mello Brandao first took on his role as chairman over 25 years ago, he has strived for an employee culture that promotes the selection of executives from within the company rather than from without. Due to this, many of the current executives have had long and storied careers with Banco Bradesco, and have always been encouraged to look toward the success of the company in order to advance. Brandao’s philosophy of internal promotion is poised to continue under Luiz Carlos Trabuco, with the most likely candidates for the position of CEO being current executives.
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However, the bank’s newest chief executive officer will not be chosen until this March, and there are several candidates who are extremely likely to take home the position. With their enormous contributions to Bradesco and their years of service under both Luiz Carlos Trabuco and Lazaro de Mello Brandao, there are seven executives with the best chance in the upcoming bid for the position. Those executives are Alexandre da Silva Gluher, Octavio de Lazari, Josué Augusto Pancini, Marcelo de Araujo Noronha, André Rodrigues Cano, Mauricio Machado de Minas, and Domingos Figueiredo Abreu. Although de Minas and Noronha have only been with Banco Bradesco since 2009 and 2003 respectively, far fewer years than any of the other candidates, their contributions to Bradesco have been immense. Overall, we’re excited to see where this race will go, and who will come out on top.
About Luiz Carlos Trabuco
The current chief executive officer of Banco Bradesco is still Luiz Carlos Trabuco. While he was promoted to chairman after Brandao stepped down, he will be maintaining his position of CEO in addition to that until such a time as a successor can be chosen. His career with Bradesco is long and illustrious, and he has brought significant success to the bank. Although, you would never have guessed as much based on his education, having graduated with a degree in Philosophy. Prior to his appointment as CEO of Banco Bradesco, Luiz Carlos Trabuco served as Investor Relations Officer and Executive VP of Bradesco, being appointed as CEO in 2009. In addition, he has served six cumulative years as the chief executive officer of Grupo Bradesco Seguros. His professional life thus far has been almost entirely dedicated to Bradesco and its subsidiaries, and if anyone is fit to carry on Brandao’s legacy, it’s Luiz Carlos Trabuco.
Luiz Carlos Trabuco earned his Bachelor’s degree in Philosophy, Science and Letters from the University of Sao Paulo. Later, he joined the Foundation School of Sociology and Politics to earn his Master’s in Socio-Psychology. He joined Bradesco bank during his college days at the age of eighteen as clerk. He was quickly noticed as an intelligent and brilliant leader and financial wizard. Luiz Carlos Trabuco was a director, and President of Bradesco Seguros, which he personally grew into a multi-billion dollar subsidiary.
Learn more about Luiz Carlos Trabuco: http://economia.estadao.com.br/blogs/coluna-do-broad/bradesco-deve-anunciar-sucessor-de-trabuco-antes-do-carnaval/