Luiz Carlos Trabuco Cappi has been appointed as the President of Bradesco. The current head of the investment wing of Bradesco is José Luiz Acar Pedro. Even he recommends the appointment of Luiz Carlos Trabuco Cappi to this post.
He had joined Bradesco in 1997 after they had purchased the National Credit Bank (BCN). The President of Vale is Roger Agnelli. He had been nominated for this post by Bradespar. This is the shareholding division of Bradesco. Vale is the main shareholder of the company. The reason why Luiz Carlos Trabuco Cappi was not appointed and Brandão was given the post of the President was that he was too young. In the same way, even Agnelli was considered to be too young as per the standards of this institution as he was just 49 years old.
Antonio Jacinto Matias is the vice president of Itaú Unibanco, which is the largest bank in Brazil today. Even he feels that Luiz Carlos Trabuco Cappi is the right person for this post as he has been with Bradesco since a long time. Hence he understands the working and the culture of this bank well enough.
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But the name of Luiz Carlos Trabuco Cappi is still to be approved. This will happen at the first council meeting which will be held after the general meeting which is being scheduled for March. Still, people are well aware of the outcome of that meeting.
During the tenure of Cypriano who is the outgoing president, Bradesco had bought ten banks. Besides, the bank had aggressively invested in the opening of several branches. This led to the doubling of the volume of credit of the bank.
In November, Cypriano will be 65. This means that as per statute, he will no longer be able to exercise any kind of executive functions. Besides, he cannot remain in the post of the president. But there are several challenges facing Bradesco now. Hence the board has decided to renew his tenure on this post. It was during the end of last year that Brandesco which was the largest private bank Brazil lost its position to Itaú Unibanco.
This was a big blow to Brandesco as market leadership is considered to be a matter of honor for them. Hence this loss had a big impact on the board. Besides, Brandesco does not have many options left to grow by making acquisitions.
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