This March, Luis Carlos Trabuco will be taking helm of the second largest bank in Brazil, Bradesco Bank. The highest position in the bank is President of the Board of Directors, which until October of 2017 was held by Lazaro Bandao who, at the age of 91 announced his retirement from the position. Bandao, like many of the Bradesco employees has been with the bank for decades, seven decades to be exact. He announced the appointment of Luiz Carlos Trabuco as his successor and gave him his full confidence and blessings.
Luiz Carlos Trabuco is currently the CEO of Bradesco Bank and will occupy the positions of President of the Board of Directors and the CEO until the board of directors has its first annual meeting on March 12th. The bylaws of the bank were changed in 2016 due to the banks largest take over in its history, the $5.2 billion acquisition of HSBC’s Brazilian unit. Luiz Carlos Trabuco was the CEO at the time and reached the age of 65, which was the maximum age for a CEO. The bylaws were changed so he could stay in charge until the age of 67, which is this year.
The restructuring, retirement of the President of the Board of Directors and the appointment of a new CEO makes this an exciting time for Bradesco bank according to valor.com.br. The bank has seven Vice Presidents of which one of them will become the next CEO and take Luiz Carlos Trabuco’s place. The candidates include, Octavio de Lazari, Josue Augusto Pancini, Alexandre de Silva Gluhar, Andre Rodrigues Cano, Domingos Figueiredo Abreu, Marcelo de Arajuo Noronha, and Mauricio Machado de Minas.
Read more: Bradesco deve anunciar sucessor de Trabuco antes do Carnaval
The candidate that has been promoted to the position in the past has almost always been the President of Bradesco banks subsidiary, Bradesco Seguros. The position is currently held of Vice President Octavio de Lazari Junior according to meioemensagem.com.br. Mr. Lazari has been with the bank for over 30 years and understands and has experience with every level of the banks hierarchy, from office boy to Managing Director. Mr. Lazari has a Masters degree in Financial Strategies and Marketing from the Faculty of Economic and Administrative Services of Osasco, a prominent college in Sao Paulo.
Luiz Carlos Trabuco earned his Bachelor’s degree in Philosophy, Science and Letters from the University of Sao Paulo and his Master’s from the Foundation School of Sociology and Politics with a degree in Socio-Psychology. The knowledge and experience he learned from his college days led him to adhere to traditions and values of his predecessors at Bradesco bank. The bank has had a tradition of promoting CEO and executives from within the company. This improves employee morale, loyalty, and trust.
Under the leadership of Luiz Carlos Trabuco the bank now $5.2 billion acquisition of HSBC’s Brazilian unit. It is the second largest private bank in Brazil and the 24th largest bank in the world. It has over 5000 agencies and outlets all over Latin America and its stock is traded on the New York Stock Exchange.
Learn more about Luiz Carlos Trabuco: https://g1.globo.com/economia/noticia/conselho-do-bradesco-escolhe-octavio-de-lazari-junior-para-substituir-trabuco-como-ceo.ghtml