Recently, Octavio de Lazari took over the reins at Bradesco bank as the President of the second largest lender in Brazil. Mr. Octavio takes the leadership at a critical time when the organization is turning 75 years and faces stiff competition from their bitter rivals. Octavio de Lazari faces a challenging task of balancing the company’s past and future. Bradesco has overtime upheld traditions that focus more on the well-being of their customers rather than profits.
Octavio de Lazari, the new President of Bradesco, has on numerous occasions laid bare his thoughts on this delicate balance between the old and the digital banking. He notes that overcoming dilemma is one of his biggest challenges that he is currently facing.
Octavio de Lazari assumed the role of the President of the bank after his name was approved during the shareholders’ meeting that was held on March this year. Octavio is the fifth President of the bank of Bradesco after taking over from his predecessor, Luiz Carlos Trabuco. His name was announced one month before the much-anticipated shareholder’s meeting that was attended by more than 200 people. The meeting went down in the Council room where the bank’s assembly takes place. After completion of this tradition, Octavio de Lazari was officially pronounced as the President of the bank.
What lay ahead of Octavio de Lazari
The future of Bradesco bank now lay in the hands of one man, Octavio de Lazari. As soon as he took over the responsibilities that come with being the president of the bank, he is now responsible for generating enough profit that will pay more than one hundred thousand employees. He is also expected to continue making investments that his predecessors laid down for Bradesco bank. The weight of more than hundred thousand needy children that Bradesco bank provides fees for lay on his shoulders. So, Octavio de Lazari needs to establish enough pillars that will enable the bank to stand firm regardless of the uncertainties that the future poses.
Acquisition of the HSBC Bank
Two years ago, Bradesco bank paid a staggering $5.2 billion during the acquisition of the HSBC. Luiz Carlos Trabuco led the bank into this deal that enabled Bradesco bank to swing back to the top position. The purchase also enabled Bradesco bank to grow six times ahead of its time if it were left to grow organically. The challenge of recovering the money used in this acquisition lies on the shoulders of the current President of the bank.
About Luiz Carlos Trabuco Cappi
Luiz Carlos Trabuco was appointed to head the bank as the chairman of the board when the former chairman penned his resignation. Mr. Luiz has served in Bradesco for several decades where he started out as a bank teller. Luiz has been in charge of various departments in the institution before rising to the position of Executive Vice President, President and then chairman of the board of Directors. Luiz Carlos Trabuco is known as a performer who has played a crucial role in the Bradesco’s current success.
Learn more about Luiz Carlos Trabuco Cappi: http://economia.estadao.com.br/blogs/coluna-do-broad/bradesco-deve-anunciar-sucessor-de-trabuco-antes-do-carnaval/