Lazaro Brandao has confirmed to the media that he will soon be stepping down from being the chairman of Bradesco Bank, Brazil’s one of the largest banks. The 91-year-old, one of the oldest bankers according to Bloomberg, has served in the position since 1990. Speaking to journalists, Brandao said that it was his own decision to step down. He explained to the media that the decision in purely meant to create room for renewed leadership in the company. However, Brandao will not leave the Bradesco completely as he will still serve as chairman of the boards of the holding company.
Luiz Carlos Trabuco Cappi, the current president of the bank, has been appointed to take over the chairmanship of the company from Brandao. According to the incoming chairman, the new president who will occupy his position will be chosen from the bank’s executive members. This is in regards to the company’s culture where executives are picked from within the company rather than from the market. Luiz Carlos Trabuco Cappi will, however, occupy the two positions until March 2018 when the president will be elected. Bradesco had earlier changed the presidency age limit form 65 to 67 years extending the exit of Luiz Carlos Trabuco Cappi who was 64years.
As stated by Luiz Carlos Trabuco Cappi, the recruitment process will observe ordinary and routine processes while considering individual talents, leadership and own light. Among the candidates eyeing the presidency position include:
• Domingos Figueiredo Abreu who is currently in charge of the department of credit and bank’s treasury. He contributed to the acquisition of HSBC Holdings. Abreu is 58 years and has been serving Bradesco since 1981.
• Alexandre da Silva Gluher. He is the bank’s chief risk officer who also contributed to the acquisition of HSCB. He joined the company in 1976 and is currently 57-years-old.
• Mauricio Machado de Minas. He is in charge of Bradesco’s IT department. Mauricio is 58 years and he joined the company in 2009.
• Andre Rodrigues Cano who is in charge of the company’s human resource department. He is 59 years old and he joined the company in 1977.
• Octavio de Lazari. He was recently appointed to manage the lender’s insurance unit and in charge of 1/3 of Bradesco’s results. Octavio is 54 years and has served the company since 1978.
• Marcelo de Araujo Noronha. He is the head of the company’s corporate and investment banking, BBI and card operation. He has been in Bradesco since 2003 and is currently 52 years.
• Josue Augusto Pancini. He joined Bradesco in 1975 and is currently in charge of the company’s branch network and high-income segment. He is 57 years old.
About Luiz Carlos Trabuco Cappi
Luiz Carlos Trabuco Cappi joined Bradesco in 1969 where he served as Bradesco Vida e Previdencia’s president. He has held numerous executive positions at Bradesco’s various branches, including executive vice president, Managing Director Executive, managing director, departmental director and many others. Luiz Carlos Trabuco Cappi has also served at ABRASCA as a board member. He was also the president of ANAPP between 1994 and 2000.
Luiz Carlos Trabuco Cappi graduated from the University of Sao Paulo with a Bachelors degree in philosophy, Sciences, and Letters. He also received his Masters in Socio-psychology from Foundation School of Sociology and Politics in Sao Paulo. According to him, the biggest challenge faced by financial institutions is understanding the interests, values, and desires of individuals. That is the reason why he prefers essential banking services and traditional practices. He believes that the Brazilian economy will take up again as a result of increased families’ spending.