Bradesco bank has been in the new recently after news that sitting President Lazaro de Mello Brandao would be retiring and hi sduties taken on temporarily by CEO Luiz Carlos Trabuco Cappi.
Who is Luiz Carlos Trabuco Cappi?
Luiz Carlos Trabuco Cappi was born in 1951 in Manila, Sao Paulo. He went to school for Philosophy, Science, and Literature but found himself instead interested in banking and began his career in the financial realm at Banco Bradesco S.A. He’s held every position on the bank scale hierarchy from Department Director to Managing Officer and Executive Vice President, and he currently holds two positions at Branco Bradesco as both the Chief Executive Officer and sitting Chairman given Lazaro de Mello Brandao’s recent retirement.
In addition to his busy workload at Banco Bradesco, Luiz also works as the CEO of other companies within the Bradesco Organization and is a sitting board member for both Fundacao Bradesco and the Foundation Institute for Digestive System and Nutrition Diseases. His vast experience specifically within the bank makes him highly suitable to hold the Presidential reigns while they work to determine who will take over the position full time in March.
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What’s next for Bradesco bank?
Brandao’s perhaps surprising departure (at 91 years old, he was the world’s’ oldest sitting bank chairman.) has triggered a public interest in who will be his successor, as Luiz Carlos Trabuco Cappi will only maintain the position until a suitable replacement is scouted and hired.
As he explained his reasoning for retiring, Brandao told journalists that he felt it was important to renew the bank’s board in order to ensure its success continues moving forward. While he will maintain responsibility for some of Bradesco’s holding companies, he explained that the bank would be looking from within to find his successor according to terra.com.br.
Brandao long ago had created a management culture that chose to favor internal executives that had been promoted through the ranks, just as he did when he first began working as a clerk in 1943. While the actual internal discussion is, of course, private, we do have some insight into the seven top candidates in line to replace him.
Who is in the running for the Presidency of the bank?
There are many candidates in line as potential successors to Brandao’s position as President and their collective experience is going to prove to be challenging to determine an ideal fit.
First, there is 58-year-old Mauricio Machado de Minas and currently leads the bank’s IT department. He has shown innovative promise and a forward-thinking approach as the man behind the bank’s’ digital-only spinoff, Next.
Then there is Alexandre de Silva Gluher, Bradesco’s 57-year-old Chief Risk Officer who has worked for the bank since 76. One of his most notable achievements was being part of the team that acquired HSBC Holding Plc’s retail unit in Brazil, a hefty purchase coming in at $5.2 billion dollars.
Other veteran employees with their name in the running include 58-year old Domingos Figueiredo Abreu, who is responsible for the bank’s lending and treasury department, and 57-year-old Josue Augusto Pancini, the lead in the Bradesco branch network and manager of high incomes. They have been with Bradesco since 1981 and 1975, respectively.
Recently promoted to an executive position Andrew Rodrigues Cano is also a potential applicant for President as he is responsible for the bank’s Human Resources department and also has a long-standing relationship with the bank given that he has worked there since 1977.
Finally, there is lender insurance unit leader Octavio de Lazari, 54, and corporate and investment banking leader Marcelo de Araujo Noronha, 52.
It is certainly a talented pool of applicants to choose from and one that will certainly not be rushed into hastily.
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