Why the Appointment of Luiz Carlos Trabuco’s Successor will Ignite a Chain of Successions at the Banco Bradesco SA

Published on Author RM2000

     The appointment of one of Banco Bradesco SA’s high-ranking executive to succeed the outgoing president Luiz Carlos Trabuco will ignite a chain of successions at the bank. In a press conference that marked the resignation of the immediate former chairman, Lazaro de Mello Brandao, and the elevation of Luiz Carlos Trabuco to preside over the board of directors, the bank announced the appointment of a new CEO would respect the company’s talent pool.

Although the Osasco-based bank did not dwell much on the appointment of a new CEO, interested parties dug deeper to uncover information surrounding the process. Among those who went ahead to unearth more information about Luiz Carlos Trabuco’s succession include Bloomberg’s Felipe Marques and Cristiane Lucchesi. The two spoke to some insiders off the record revealing that those currently in consideration to succeed the outgoing CEO include Mauricio Machado de Minas, Alexandre da Silva Gluher, Domingos Figueiredo Abreu, Josué Augusto Pancini, Marcelo de Araujo Noronha, Octavio de Lazari, and André Rodrigues Cano.

The seven professionals being part of Bradesco, Bloomberg sought to uncover their profiles.

  • Minas, 58, is the team leader of Bradesco’s IT department. He has been part of Bradesco for eight years.
  • Gluher is Bradesco’s chief risk officer. The 57-year-old Gluher started out his career at Bradesco in 1976. He demonstrated his ability as an excellent team player when he, alongside others, represented Bradesco in negotiations that enabled the bank to acquire the Brazilian branch of HSBC.
  • Abreu, 58, was part of the team that negotiated Bradesco’s takeover of HSBC Holdings Plc.’s retail unit in Brazil. He is in charge of Bradesco’s treasury and lending departments. He joined Bradesco in1981.
  • Pancini is tasked with overseeing Bradesco’s branch network and its high-income segment. He has been part of the Osasco-based bank since 1975.
  • Noronha, 52, is the youngest of the seven professionals. He is in charge of Bradesco BBI, which deals in Bradesco’s corporate and investment banking as well as its card operation. He joined Bradesco in 2003.
  • Lazari is the president of Bradesco Seguros. The 54-year-old joined Bradesco’s higher management team in May 2016. Bradesco Seguros is a subsidiary of Bradesco tasked with the bank’s insurance business. Lazari joined Bradesco in 1978.
  • Cano, 59, is the team leader of Bradesco’s human resources department. He joined Bradesco in 1977 and was recently promoted to head the department.

If the bank settles on one of the above individuals to succeed Luiz Carlos Trabuco, it means that another vacancy in Bradesco’s higher management team will arise, requiring the appointing authority to prospect for his successor.

Lazaro de Mello Brandao

The 91-year-old retired chairman joined Bradesco in 1943. At the time, Bradesco was budding, and he was one of the many clerks that were hired at the bank. However, Brandao quickly set himself apart from the lot when he started ascending the corporate ladder. However, it was not until 1963 when Brandao got his big break. Bradesco appointed him a director. Fourteen years later, Brandao became vice president, and four years later he became the second president of Bradesco, succeeding Amadao Aguair.

While still the president of Bradesco, Aguiar passed on, leaving the chairmanship position vacant. Once more, the appointing authority settled on Brandao to succeed Aguair. Brandao doubled up as the chairman and CEO of Bradesco between 1991 and 1999 when Marcio Cypriano relieved him, being appointed the third CEO of Bradesco. Brandao held on as the chairman of the board of directors until his recent resignation. At the helm of Bradesco, Brandao fostered a management culture that favored the appointment of Bradesco’s high-ranking executives from within the company’s talent pool.

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