Lazaro de Mello Brandao, 91, was the chairman of Banco Bradesco SA until October 11, 2017, when he made a personal choice to resign. His resignation came after close to 74 years at the bank. In fact, he joined the company the same year that Amado Aguiar established the bank—1943. When he was first hired to work at the little known Bradesco, Brandao was a mere clerk. However, he leaves the bank having held esteemed positions including the presidency of Bradesco between 1981 and 1999. Just before he resigned, he held the highest possible post in the corporate hierarchy of the Osasco based bank.
As the CEO and the Chairman of Bradesco, which statistics indicate is the second largest private bank in Brazil, Brandao emphasized the need for staff development especially to equip them with the necessary skills to take over leadership positions at the bank.
Although sometimes it becomes essential to poach leaders from competing firms, Brandao considered that the last option. He was a proponent of Bradesco’s junior staff rising through the ranks to become the next leaders of the $413 billion bank. Even in his retirement, Brandao’s expertise amassed over his lengthy career will not go to waste. The 91-year-old will still be in charge of Fundação Bradesco and Bradespar SA among other crucial institutions in the society.
Taking over from Brandao is none other than the bank’s CEO, Luiz Carlos Trabuco. Before Brandao resigned, reliable sources indicated that Trabuco would take over from Brandao, and the narrative has come to pass. Trabuco, 66, became the chairman of the bank in 2009. Even after assuming the chairmanship of Bradesco, Trabuco will remain the CEO of the bank until his successor assumes office in March next year.
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As the CEO of Bradesco, Trabuco’s track record draws envy and admiration in equal measure. Trabuco has been the force behind some of Bradesco’s high-value transactions including the 2013’s purchase of the Brazilian branch of HSBC Holdings Plc. The bank spent a whopping $5.2 billion to acquire the firm in an inorganic growth strategy thought to have pushed the bank six years ahead of its time.
In fact, the purchase enabled the bank to outdo its main competitor, Itaú Unibanco. Not wholly but in terms of branch network, the number of account holders, and total investment funds. Also, the transaction enabled Bradesco to edge closer to Itaú Unibanco regarding assets, deposits, and loans granted.
But unlike Brandao, Trabuco deem it necessary to open up the company to fresh ideas by hiring leaders from competing firms. However, Trabuco is also keen on developing Bradesco’s employees. He the founder of the award-winning Unibrad Corporate College meant to support Bradesco’s staff and executives to grow professionally.
Trabuco began working at Bradesco in 1969. He was hired as a clerk. Like Brandao, he ascended through the ranks of Bradesco.
Trabuco is an alumnus of the University of São Paulo and Fundação School of Sociology and Politics. Over his career, Trabuco has won several awards including the recent recognition by Forbes Magazine as one of the “Best CEOs in Brazil.’’
With Brandao already replaced, who will replace Trabuco? Speculations are rife that one of Bradesco’s employees will take over from Trabuco. The professional who will be chosen will most likely have worked at Bradesco for a significant period. Obviously, he or she must be currently in charge of a crucial task at the bank. The suggested individuals include André Rodrigues Cano, Octavio de Lazari, Marcelo de Araujo Noronha, Josué Augusto Pancini, Domingos Figueiredo Abreu, Alexandre da Silva Gluher, and Mauricio Machado de Minas.
Search more information about Luiz Carlos Trabuco:https://br.reuters.com/article/topNews/idBRKBN1CF35D-OBRTP