Bradesco, the second largest banking institution in Brazil and, arguably, the fastest growing, was in a different league when Luiz Carlos Trabuco was appointed the CEO sometime in 2009. The career banker who started working with Bradesco at a tender age, shortly after completing his studies made a raft of changes to the way the bank operated at the time. One of his most significant changes was how the bank interacted with its customers.
In his tenure, the bank saw the fastest growth it had ever experienced. Mr. Trabuco is credited with helping the bank achieve its current status. There was a time that Bradesco was even opening over 3000 new accounts every day. It seems that Mr. Trabuco could never have made better use of his training in sociology. However, like everything good in life, there is always a time to let go. Mr. Trabuco has come to the end of his term as the President of Bradesco. The bank’s board is set to announce a new President in the name of one Octavio de Lazari. Mr. Octavio de Lazari is the current President of Bradesco Seguros. He beat several applicants and befitting candidates to the top position. It is worth noting that the selection committee proposed Octavio’s name after sifting through the portfolios of several vice presidents of the bank on the list of candidates.
The Succession Calendar
According to the information shared by Luiz Carlos Trabuco himself, there is a formal calendar of events leading to his replacement. It is a process that involves nomination and eventually, endorsement by the Appointment Committee. The process is meant to maintain continuity at the bank. Meanwhile, Mr. Trabuco will continue serving as the chairman of the board until the formal announcement is made after the March 12th Ordinary General Meeting.
Expectation and Speculation
The announcement of a new CEO and president of Bradesco is a hot subject drawing interest from a wide range of interest groups and the general public. Following the inclusion of several vice presidents in the contest, several names kept coming up as the best choice for Bradesco. However, the nomination committee did a good job at keeping a tight cap on the likely candidate. Mr. Octavio may not have been a favorite but, judging from his role at the bank, and the fact that he has worked with Luiz Carlos Trabuco Cappi in various departments, he may be the best fit, if the bank is to continue on its upward trajectory in performance.
Mr. Luiz Carlos Trabuco is a philosophy graduate from the University of Sao Paulo. He also trained in socio-psychology at Fundacao University. Mr. Trabuco is, notably, one of the longest-serving employees of the Bradesco group. He served in various positions, rising through the ranks as the bank recognized his dedication and skill. He was appointed the Marketing Manager at the bank after 15 years since his employment. He improved communications at the bank and elevated the communication system a modernized one. He also built bridges with the media.
Mr. Luiz Carlos Trabuco Cappi served as Managing Director of Banco Bradesco from 1998; after his 8-year service as the Marketing Director. Mr. Trabuco became the bank’s Executive Vice president in 1999. He served as the President of Bradesco Seguros, a company that combines eight others under its umbrella. Notably, Mr. Trabuco oversaw the launching of Bradesco Shares on the NYSE during his tenure.
Where Luiz Carlos Trabuco Leaves Bradesco
It is during Mr. Luiz Carlos Trabuco’s tenure that Bradesco grew to claim a 25% market share in Brazil. He also oversaw the Insurance Company post improved profits that elevated it to the largest insurance company in Latin America.