The oldest serving bank official in the world finally threw in the towel and opted to resign at the age of ninety-one years. The exit of Mr. Lazaro de Mello Brandao comes as a surprise since he served the bank as President for as long as many can remember. He gave the bank a total of 75 years of service. He will now be replaced by the current Chief Executive Officer Mr. Luiz Carlos Trabuco Capp. The exit has already seen industry observers and investors speculate on the possible CEO replacements. Banco Bradesco has over the past several years developed a culture of picking executive officials from its talent pool. The strategy of tapping into its own human capital as opposed to looking elsewhere has been one of the secrets of Bradesco Bank’s growth.
Luiz Carlos Trabuco Capp will now hold the two positions until a new Chief Executive Officer is appointed in March next year. Luiz Carlos Trabuco Capp attempting to calm speculations indicated that the bank will follow a specified procedure that will take the next few weeks. In any case, we already know the next CEO will be one of the well-performing executive officers of the bank. This has however not stopped analysts from speculating. Some of the names thrown around as possible replacements include; Domingos Figueiredo Abreu the current head of the bank’s treasury, Mauricio Machado de Minas the head of IT, Josué Augusto Pancini the head of the bank branch network, Alexandre da Silva Gluher the chief risk officer, André Rodrigues Cano the head of human resource, and Octavio de Lazari who heads the bank’s insurance unit. The bank does not face any shortfall of talent in this case.
For the next months, however, Luiz Carlos Trabuco Capp will continue to juggle both responsibilities. Having risen through the ranks of Banco Bradesco, few people match his knowledge of the bank’s operations. Luiz Carlos Trabuco Capp started working as a bank teller for Bradesco when he was only eighteen years old in 1969. His rise up the ranks began soon after. He became branch manager after a few years, then moved on to be a district manager and a regional manager in a span of 15 years. He was then appointed the marketing director where he served for the 8 years leading to 1992.
By this time the Banco Bradesco had begun to tap Luiz Carlos Trabuco Capp for strategic assignments. In 1992, he was appointed the Chief Executive Officer of Bradesco Vida Previdencia a private pensions firm owned by the bank. Following successful growth at the Pensions Firm, Luiz Carlos Trabuco Capp was Elected Managing Director of Banco Bradesco in 1998 and a year later he became the Executive Vice President. In 2003, he was appointed the President of Bradesco Seguros which was composed of eight companies. It was here that Luiz Carlos Trabuco Capp proved that he was ready for even bigger responsibilities. Under his management, Bradesco Seguros grew astronomically doubling its size. He saw it grow its market niche to 25 percent of the Brazilian market. He guided the insurance company under Bradesco Seguros to become the largest in Latin America by market share.
When the bank was looking for its 4th President in 2009, it was inevitably natural that Luiz Carlos Trabuco Capp will be selected. Nobody had made more progress for the bank than he had done in a period of 40 years. As CEO of Bradesco, he navigated the bank through the financial crisis of 2008/2009. By 2015, the bank was healthy enough to take over HSBC Brazil. The takeover expanded Banco Bradesco’s market niche further. For more information visit:http://www.camar.sp.gov.br/images/imagesnoticias/851/principal.html