Luiz Carlos Trabuco Cappi will be taking over as the Chairman Of Bradesco, the second largest private bank in Brazil. Lázaro de Mello Brandão who had spent the last 75 years of his professional life working for the Bradesco Group, recently announced that he would be resigning the post at the age of 91 years.
Lázaro de Mello Brandão will continue to lead the group stakes and holdings, however, after March 2018, a new CEO will be announced to take over Luiz Carlos Trabuco Cappi’s old post. The Bradesco Group has a long-standing history of appointing CEOs from the existing group of board members instead of hiring a new candidate external to the bank.
Under the rules of the Bradesco Group’s charter, the age for retirement of the president is set at 65 years, which is one year lesser than Luiz Carlos Trabuco Cappi’s current age, but since he was granted a waiver until the next year, he will not be altogether exercising this age limit. One of the main reasons Luiz Carlos Trabuco Cappi’s was selected for the Chairman’s post was because of his impeccable work history and due to his dedication shown to the Bradesco bank over the last many years. He commenced his career path a bit over 48 years ago and had committed his entire life to working for this Brazilian bank. He has headed various core departments within Bradesco and was also the Investor Relations Officer from 1999 to 2009. He was also the Executive Vice President during the same tenure. Since 2017, he has been a Chairman of the Board of Directors and is working continually to aid in the overall growth and development of the bank.
Read more on bradesco.infoinvest.com.br
Most people have been wondering, what’s next for the Bradesco group and who will take over the role of the CEO now that Luiz Carlos Trabuco Cappi has been appointed the Chairman? Luiz Carlos Trabuco Cappi stated in a conference, that while the appointment might happen before March, the process of the replacement must undergo its due course and the executive to replace him as the president has not yet been selected.
Various candidates have been selected from the existing workforce of the bank to take over Luiz Carlos Trabuco Cappi’s role as the CEO until then Luiz Carlos Trabuco Cappi will be working in both positions. One of the candidate names that was quoted by O Estado de S, a Brazilian publication, was of Mauricio Minas as he has been a pioneer and leader of the technological growth that Bradesco has seen in the last few years. Mauricio Minas was also mostly responsible for the merger with HSBC as well as the creation of the bank’s virtual banking system.
The decision, however, has not yet been made and the other six vice presidents that are shortlisted as candidates for the CEO’s post include Domingos Figueiredo de Abreu, Josué Augusto Pancini, Octavio of Lazari Junior, Alexandre da Silva Glüher, Bradesco Seguros and Marcelo de Araújo Noronha. Alexandre da Silva Glüher is considered as a kingpin especially during the merger with HSBC, along with Josué Pancini who has significant experience being the vice president of Bradesco. Each of these candidates has been heading their respective departments within the organization for extended periods of time and have vast experience and field knowledge to make them excellent choices for the new post.
Luiz Carlos Trabuco Cappi would have a choice in selecting his replacement for Bradesco’s CEO, and it is expected that the talented individual with vast experience in leadership in diverse areas as well as experience with corporate governance structure will be selected.
Learn more about Luiz Carlos Trabuco Cappi: https://www.terra.com.br/economia/trabuco-assumira-presidencia-do-conselho-do-bradesco-banco-nomeara-novo-chefe-executivo-em-marco,9fb1d7fe927d7f26678a7543f82f02edw3u6oihm.html