A Headache At Banco Bradesco SA Regarding The Appointment Of New CEO

If the March deadline for the appointment of a new CEO is anything to go by, Banco Bradesco SA has slightly over a month to name Luiz Carlos Trabuco’s successor. Information emanating from the bank is indicative of an institution split on its seven high-ranking executives. The seven are
• Mauricio Machado de Minas
• Alexandre da Silva Gluher
• Domingos Figueiredo Abreu
• Josué Augusto Pancini
• Marcelo de Araujo Noronha
• Octavio de Lazari and
André Rodrigues Cano.

The seven are part of the higher management team and are naturally poised to take over from the outgoing CEO, Luiz Carlos Trabuco. In addition, Bradesco’s stance that the recruitment of a new president was an in-house affair has worked in favor of the seven who are currently in charge of departments, subsidiaries, etc.

Luiz Carlos Trabuco
An employee of Bradesco since 1969, Luiz Carlos Trabuco rose to the presidency in 2009, after successively rising through the various ranks at the Osasco-based Bradesco. He assumed office when the global economic prospects, and by extension the Brazilian, were unfavorable. This fact coupled with Itaú Unibanco’s dethronement of Bradesco (as the largest private bank) worked against his first days in office. Being a shrewd leader, however, Luiz Carlos Trabuco firmly held on to the presidency, instituting well thought out strategies that would see Bradesco triumph again in the face of challenges.

Some revolutionary strategies initiated by Luiz Carlos Trabuco include the establishment of the Unibrad Corporate University and the purchase of the Brazilian branch of HSBC. Unibrad came to life with the sole purpose of aiding Bradesco’s staff (including the members of the higher management team) attain both professional and personal growth. GlobalCCU awards, in 2017, named Unibrad the “Best Corporate University in the World.” The acquisition of the Brazilian branch of HSBC cost Bradesco over $5 billion. The purchase, which occurred in 2015, went down in history books as the most significant transaction in the Brazilian financial sector that year. The acquisition, according to Luiz Carlos Trabuco, had enabled Bradesco to achieve at one go what the Osasco-based bank would have worked for years.

A few months before leaving office, Luiz Carlos Trabuco was elevated to chair the board of directors of Bradesco. The elevation was prompted by the resignation of the immediate former chair, Lazaro de Mello Brandao.

Read more: Bradesco deve anunciar sucessor de Trabuco antes do Carnaval

Lazaro de Mello Brandao
Since 1943 up to the last quarter of 2017, Lazaro de Mello Brandao served Bradesco in various capacities. Brandao, 91, started his banking career at the Osasco-based Bradesco as a clerk, rising through the various ranks at the bank until he became the bank’s president in 1981. Some years later, he rose to become Bradesco’s chairman. Brandao resigned as president in 1999, continuing as the chairman until October 11, 2017 according to valor.com.br.

Brandao’s resignation and the elevation of Luiz Carlos Trabuco coincided. It seems that the bank had been strategizing on the same for an extended period. As one of the longest-serving employees at the bank, Brandao held the title of No. 1 employee at Bradesco. However, Brandao is not yet done with Bradesco as he is still in charge of some of Bradesco’s holding companies.

Learn more about Luiz Carlos Trabuco: http://www1.folha.uol.com.br/mercado/2017/10/1926427-sucessao-no-bradesco-vira-alvo-de-aposta.shtml