What Next for Bradesco?
The President of Bradesco, Luiz Carlos Trabuco Cappi, explained the bank`s change of management. He is the new Chairman of Bradesco. In a statement, the CEO pointed out that the changes were not a surprise because the organization had been planning to make them for a long time. Trabuco also said that Brandao had a view of his career when he appointed him as the Vice President of the organization.
In Wednesday`s press conference, the CEO confirmed that his replacement will come from Bradesco`s board members. Brandao had developed a tradition that ensures the bank`s president is selected from house executives. The former chairman believed that an internal executive would perform better than a newly-recruited professional.
Trabuco will head positions until the board holds a meeting in March 2018. Although the new president is supposed to be elected during the meeting, the bank should submit the name to the Central Bank one month earlier. As a result, Trabuco will follow Bradesco`s culture to propose the name of his successor.
Trabuco said that the new president is yet to be decided. He also confirmed that Bradesco will honor the culture of selecting the CEO from its pool of talent. The nomination will follow a routine process that will focus on the person with the best professional profile. Before his rise, Trabuco was the Vice President of Bradesco`s Executive Board. Carlos Alberto Guilherme will occupy the position.
Trabuco can only hold the CEO`s position until next year. This is because the bank`s policy does not allow its presidents to be in office past the age of 67 years. Bradesco changed its bylaws to increase the age limit to 67 years. The alterations were made allow Trabuco sufficient time to integrate HSBC into Bradesco`s methods of operation. Trabuco also said that the bank required enough time to determine the fate of its executives.
Brandao`s resignation was good for Bradesco because it will bring new ideas that will facilitate the firm`s prosperity. As the holder of the No.1 employee badge, Brandao has worked at the organization for more than 75 years. Starting as a clerk, Brandao rose to become one of the most influential executives in Brazil.
“Who will be the next president?” This is the question that most Brazilians are asking. Many people are pointing to Mauricio Minas, Vice President of Technology. Minas led the bank in its technological revolution. Despite all the speculations, Trabuco confirmed that the institution has not settled on a specific name.
All the seven executives are still candidates for the presidency. These individuals include Domingos Figueiredo, Alexandre Gluher, Marcelo Noronha, Andre` Cano, Josue` Pancini and Octavio Lazari. Gluher and Pancini are the most experienced. The former was a key participant in the bank`s acquisition of HSBC. The latter is Bradesco`s longest-serving Vice President. Despite the speculations, it is difficult to predict who the bank will elect as the next president.
About Luiz Carlos Trabuco Cappi
Luiz Carlos Trabucco Cappi, the Chairman and President of Bradesco, was born on 6th October 1951. He was brought up in Marillia. Trabuco joined Sciences and Letters of Sao Paulo to study a degree in the Faculty of Philosophy. The institution is currently known as a UNESP. Luiz Carlos Trabuco Cappi acquired his Master`s Degree in Socio-Psychology from Fundacao School of Sociology and Politics.
Trabuco joined Bradesco when he was 17 years old. He completed multiple assignments for 15 years until he was promoted to be Bradesco`s Marketing Director. In 1992, Trabuco became the President of Vida e Previdencia, Bradesco`s privately-owned company. He became the bank`s Managing Director in 1998. He was nominated to be Bradesco`s Executive Vice President in 1999. Trabuco became the President of Seguros in 2003, a position he held until he was elected to be the President of Bradesco 2009.