Recently, it was announced that Bradesco CEO Luiz Carlos Trabuco will step down from that position. He will be, in turn, replacing the outgoing chairman of the board, Lazaro Brandao. Trabuco Cappi will also be responsible for appointing his successor, a job he has until the end of March to complete.
The changes are primarily driven by the decision of the bank’s longtime chairman, Lazaro Brandao, to finally hand in his resignation. After a career spanning more than 75 years, Brandao has decided that he would like to spend more time with his family and allow for new managerial talent to move up through the company ranks.
Brandao has acted as chairman of the board of Bradesco since 1990. Prior to that, he was the chief executive officer from 1981 onward. Between 1990 and 1999, he operated as both CEO and chairman at the same time, the only instance in the history of the bank in which one man occupied both of those positions.
Many shareholders have expressed angst about the retirement of Brandao, who oversaw the bank through its period of spectacular growth, which lasted from roughly 1990 to 2009. Over that time period, the value of the bank increased by more than 300 times, marking one of the most astonishing rises in value of any major corporation in Brazilian history.
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Now, as Brandao hangs up his hat for the final time, many wonder if Trabuco Cappi will be up to filling the very large shoes of the financial giant who he is slated to replace. But Brandao himself has been aggressively assuaging the fears of stakeholders in the company, stating on multiple occasions that Trabuco Cappi is the single best person to take over his old job being chairman of anyone on the planet.
Trabuco Cappi will also be tasked with finding his own replacement. At first, there were rumors swirling that he may be looking to recruit new talent from outside of the bank. These rumors had some foundation in fact, as Trabuco Cappi was personally responsible for the formation of one of the most famous executive business schools in the country, aimed at producing more high-level managerial talent. Trabuco Cappi initiated the project because so many Brazilian companies were suffering from a shortage of high quality executives.
But Luiz Carlos Trabuco Cappi himself declared that he would not be departing from corporate tradition on the hiring of the new CEO, which suggests that all CEOs should be recruited from within the ranks of the firm. Trabuco Cappi has, therefore, confirmed that he will only be considering promoting one of the seven current vice presidents of the bank. Although this would tend to lead to the conclusion that any of these executives are viable candidates to become the next Bradesco CEO, analysts who closely follow the bank believe that there is one candidate who is an overwhelming favorite to get the job.
Mauricio Minas is the company’s 56-year-old IT chief, a position in which he has been responsible for overseeing nearly all of the bank’s suite of high-tech banking services products according to istoedinheiro.com.br. Minas was personally responsible for the rollout of the bank’s Next online banking platform, a product that proved to be so enormously successful that it was eventually spun off into its own enterprise.
Minas was also responsible for overseeing the full integration of all of the HSBC Brazil tech assets into the Bradesco fold. This was a critical job in which he performed superlatively, enabling the $5.2 billion deal to go down without a hitch.
Trabuco Cappi has long been one of the bank’s most assertive advocates for adopting and developing new tech. This is another factor that makes Minas’ appointment likely.
Find more about Luiz Carlos Trabuco Cappi: http://epocanegocios.globo.com/Empresa/noticia/2017/10/trabuco-o-importante-agora-e-olhar-para-os-desafios-do-futuro.html