Bradesco Yet To Communicate Regarding The Appointment Of A New CEO
Sources familiar with Banco Bradesco SA hinted that Luiz Carlos Trabuco, the CEO of the bank, would replace Lazaro de Mello Brandao. Bradesco cleared the air by appointing Trabuco to succeed Brandao, 91, who resigned as the chairman of the bank on October 11. However, Trabuco will not leave office until March next year when the Osasco based bank will have appointed his successor. Meanwhile, Bradesco is in high gear working to find Trabuco’s replacement. Although seven names have surfaced which analysts believe one of them is likely to take over the bank’s presidency from Trabuco, the bank has not made any official announcement regarding the appointment of a new CEO apart from affirming that the new CEO will be picked from among Bradesco’s high ranking leaders.
Armed with the knowledge that Bradesco’s CEO choice will respect Bradesco’s pool of staff, analysts were quick to analyze some of the high ranking Bradesco’s leaders in charge of departments or crucial units. Pundits are optimistic that Mauricio Machado de Minas, Alexandre da Silva Gluher, Domingos Figueiredo Abreu, Josué Augusto Pancini, Marcelo de Araujo Noronha, Octavio de Lazari, or André Rodrigues Cano will succeed Trabuco. Although Bradesco is free to pick any candidate it deems suitable to replace Trabuco; experts claim that the seven have demonstrated strong work ethic similar to that shown by previous CEOs including Marcio Cypriano, Brandao, and Amado Aguiar (the founder of Bradesco).
Brandao and Trabuco
The retired chairman, Brandao, and the current commander of the board of directors of Bradesco and CEO, Trabuco, share some similarities. They both started out their careers at the bank as clerks. Brandao joined the bank in 1943, and Trabuco became part of the institution 26 years later. Although they joined the bank at different times, their rise through the ranks within the bank is similar. Brandao served the bank in various capacities before eventually becoming the second CEO the bank in 1981 and the second chairman of the bank in 1990. Brandao resigned as the president of the bank in 1999, but he remained the chair of the board of directors until his recent resignation. Trabuco, just like Brandao, had served the Bradesco in different capacities before being appointed the president of the bank in 2009. He was recently promoted to chair the Bradesco’s board of directors.
Luiz Carlos Trabuco
There is no doubt that Trabuco is presently the highest ranking Bradesco’s executive. The appointment to chair the bank’s board of directors came as an honor to his culture of hard work and putting Bradesco before all else. Trabuco track record is available for all and sundry to marvel at. Perhaps his most significant achievement so far is the purchase of the Brazilian retail unit of HSBC Plc. for a whopping $5.2 billion. As the CEO, Trabuco convinced the board of directors to make the purchase. He also oversaw the successful acquisition of the unit. The purchase took the Brazil’s financial sector by storm. In fact, it becomes known as the most significant transaction in Brazil in 2015.
The recognition from various entities and the awards that Trabuco has under his belt speak to his performance as a business leader. Trabuco has been recognized twice as the “Insurance Personal of the Year,” “Business Personality of Insurance,” one of the “Best CEOs in Brazil,’’ etc. Trabuco was awarded the 2009 Don Quixote Trophy.
Trabuco, unlike other business executives in the banking sector who studied commerce, economics, accounting, or engineering, he pursued philosophy. He is an alumnus of the Department of Philosophy, Sciences, and Letters of the University of São Paulo. He later furthered his education at the Fundação School of Sociology and Politics.
Search more about Luiz Carlos Trabuco: http://www.valor.com.br/financas/5194121/trabuco-apesar-das-incertezas-investidores-acreditam-no-pais