Luiz Carlos Trabuco Cappi was recently appointed to take over the stewardship of Bradesco bank as the chairman of the board of directors. The position was formerly occupied by Mr. Lazaro de Brandao who worked for Bradesco Bank for 75 years. Mr. Lazaro surprised many people when he announced his resignation from the top role in the bank. Even after penning his resignation, Lazaro de Brandao will continue to oversee the operations of Bradesco’s holdings. Mr. Lazaro’s departure opened a new position in the bank which had to be filled. The process of recruiting the new president of the bank was expected to take some time since there was a great lineup of equally talented candidates.
According to Luiz Carlos Trabuco, the new chairman of the board, the structuring of Bradesco bank is complex. It, therefore, requires the executive to perform thorough vetting before they can pass the name of any candidate to take to the office. Bradesco’s main aim is to ensure that they pick the best candidate that will propel Bradesco bank into a bright future.
The timing of the resignation
Mr. Lazaro’s resignation came at a time when the bank was turning 75 years, and competition had stiffened. His announcement was a surprise, but the plans were already underway on how to take Bradesco to the next level. There were also lots of speculations on who could be the next President of the bank. Seven candidates that include executive vice presidents expressed their interest in succeeding Luiz Carlos Trabuco as the President of Bradesco.
Among the interested candidates include Mauricio Minas who actively took part in the acquisition and assimilation of HSBC bank into Bradesco. He is a key pillar in revolutionizing technology and restructuring Bradesco’s digital bank known as NEXT.
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Some more six vice presidents were eyeing to take over from Luiz Carlos Trabuco. Domingos Figueiredo who currently serves as the vice president of the treasury was among them. Another equally qualified candidate was Alexandre da Silva who serves as the Director of Investor relations. Other candidates include Marcelo de Araugo who serves in the investment banking department and Andre Rodrigues who serves in the Human Resource department. Finally, Octavio de Lazari who served as the President of Bradesco Seguros carried the day by beating the other candidates on several aspects.
All the nominated seven candidates have immense experience working in Bradesco bank. Some of them have served in the bank for over four decades. They have therefore played a crucial role in the bank’s current success. Luiz Carlos Trabuco Cappi played an important role in the election of the current CEO of the bank. The whole process was challenging but transparent.
It was challenging for two main reasons. Firstly, the lineup for the president position included equally talented individuals who hold prominent positions in the bank. Secondly, the structuring of Bradesco bank is quite complex, and it was, therefore, challenging choosing between candidates who work in different departments. Bradesco bank has been the largest bank in Brazil for many years. It took the lead for many years until Banco Itau, and Unibanco merged in 2009 and became the largest lender in Latin America.