What Next for Bradesco?
Most entrepreneurs and financial enthusiasts in Brazil are awaiting a highly anticipated decision that will take place in Sao Paulo. Bradesco, one of the leading banks in Brazil is seeking to elect a new CEO to replace Luiz Carlos Trabuco as the President of the institution. Bradesco announced the retirement of the current Chairman, Lazaro Brandao.
Having served the bank for more than 75 years, Brandao held the No.1 employee badge until his resignation. He joined the organization when he was 16 years old. His commitment saw him promoted to the management and executive levels. In 1981, Brandao became the CEO of Bradesco, a position he held until he was elected as the Chairman of the Board of Executive in 1999.
Brandao has been at the top of the organization for over 25 years. During his reign, Brandao implemented a culture that ensured the institution promoted executives from its pool of talent. Trabuco confirmed the speculations by saying that the company will select the new CEO from its executives.
Luiz Carlos Trabuco replaced Brandao at the top of the bank’s management. The promotion to the Chairmanship position was a good thing for the bank and Trabuco. According to Brandao, the institution required a change to ensure continuity and success. Under the bank’s laws, the President`s maximum age is 65 years. However, the age limit was increased to 67 years. This allows Luiz Carlos Trabuco sufficient time to propose a new name to replace him as the President. Bradesco does not also allow its executives to hold more than one management position. The institution requires a new CEO since Trabuco cannot work as the Chairman and CEO of the organization.
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§ Josue` Augusto Pancini is a 57-year-old executive who leads the Treasury and Lending Units. Pancini started working at Bradesco in 1975.
§ The Chief Risk Officer, Alexandre da Silva Gulher led the team that purchased HSBC Holding`s branch in Brazil. The 57-year-old has served at Bradesco since 1976.
§ The Chief Officer for Treasury and Leading Departments, Domingos Figueiredo Abreu, is a likely choice because he has worked at the organization since 1981. Being 57 years, Domingos can serve as President for 9 years.
§ Octavio Lazari is a 54-year-old executive who has worked at Bradesco since 1978. He is the Chief Officer of the Insurance Department. Although he was promoted last May, he has extensive experience in management issues and the bank`s policies.
§ Andre Rodrigues Cano is the Chief Officer of the Human Resource Unit. Although the 59-year old is a recent addition to the executive team, he has worked at the lending firm since 1977.
§ Marcelo Noronha is the executive who leads the Corporate Investment and Banking Department. He is also in charge of Bradesco`s Card Operations and BBI. Having worked at the institution since 2003, the 52-year-old has adequate knowledge and skills to lead the bank.
§ Mauricio Minas is the Chief Officer of the IT Department. He led the lender`s digital-only spinoff. Minas started working at Bradesco in 2009.
About Luiz Carlo Trabuco
Born on 6th October 1951, Luiz Carlos Trabuco grew up in Marilla to become was one the most influential executives in Brazil. He attended Sciences and Letters of Sao` Paulo, currently known as UNESCO, to acquire a degree from the Faculty of Philosophy. He also enrolled for a Master`s Degree in Socio-Psychology at Funacao School of Sociology and Politics of Sao Paulo.
Trabuco joined Bradesco, as a clerk, when he was 17 years old. He completed various assignment before he became a marketing director in 1983. He served at the position for 8 years until 1992 when he was elected to be the CEO of one of Bradesco`s privately-owned companies. He managed the firm until 1998. He was elected as Bradesco`s Executive Vice President in 2003 before he became the fourth President in 2009.
Search more about Luiz Carlos Trabuco: https://www.reuters.com/article/banco-bradesco-ceo/brazils-bradesco-to-choose-new-ceo-among-internal-candidates-ceo-trabuco-says-idUSL2N1MM0ZP