Lazaro de Mello Brandao is one of the globe’s oldest serving bank chairmen. Having served at Banco Bradesco for over two decades, Lazaro de Mello Brandao, who is currently 91 years, chose to resign from this position prompting a succession contest within the staff of Brazil’s second-largest bank by market value.
Luiz Carlos Trabuco Cappi recently told correspondents that Brazil’s Banco Bradesco SA is likely to pick one its current staff to take on the Chief Executive Officer position. He adds that the name of the new Chief Executive Officer will be made public a month before the bank’s shareholder assembly in March. Lazaro de Mello Brandao is said to be temporarily replaced by the current Chief Executive Officer Luiz Carlos Trabuco Cappi who will simultaneously serve as the CEO and Bank Chairman until March. Following a regulatory filing Tuesday the Private lender firm will vote in a new Chief Executive Officer that same month.
Lazaro de Mello Brandao, the former president, encouraged a management tradition which was in favor of executives getting promoted from within the organization as compared to hiring fresh talent from outside, a culture that is still in process as the search of the Chief Executive Officer replacement is still on. The bank is said to choose from a list of 7 top-ranking executives who are deemed with high respect and have an understanding of the matter at hand. Luiz Carlos Trabuco Cappi feels that the new choice for Chief Executive Officer should hold high regard for Bradesco’s present talent pool, which is something he expressed at a recent media event. Bradesco amended its local law to increase the maximum age of Chief Executive Officers by two years leaving Luiz Carlos Trabuco Cappi very little time to come up with his successor.
Read more: epocanegocios.globo.com
Luiz Carlos Trabuco Cappi is currently the president of the 2nd largest Brazilian private bank Banco Bradesco. Luiz Carlos Trabuco Cappi started out his career at Banco Bradesco during his teenage days when he served as a clerk. He labored his way to the marketing director position which took him over a decade of performing several tasks assigned to him. He helped the bank’s communication gain recognition as updated and he even managed to build a greater relationship with the media during his incumbency. Luiz Carlos Trabuco Cappi supervised the bank’s marketing for almost a decade before landing the CEO position at Bradesco- the private firm centered on offering private pension.
Luiz Carlos Trabuco Cappi was voted in managing director of Banco Bradesco in 1998, and he took on the executive vice president role the following year. He became the president of Bradesco Seguros in 2003, and he managed to double the company size as well as reinforce its authority in the nation. Consequently, the company increased its performance by 10% making it the largest insurance company in Latin America. Luiz Carlos Trabuco Cappi also initiated the launch of Bradesco’s shares on New York Stock Exchange in addition to holding one of the most significant marketing activity- The Lagoa Christmas Tree which was financed by Bradesco Seguros for two continuous decades.
Luiz Carlos Trabuco Cappi led the purchase of HSBC in 2015 which is deemed the greatest acquisition in the Banks history with Isto E Dinheiro naming him the Entrepreneur of the Year in finance. Having built a successful career for over four decades serving various positions in the bank, Luiz Carlos Trabuco Cappi was designated President of the Bank which made him the 4th president since the founder Amador Aguiar passed on in 1991. He also took on the Chairman of Board of directors following Lazaro de Melo Brandao’s resignation just last month, making him the third president of the Board of Directors since the bank’s formation.