Banco Bradesco, the second largest bank in Brazil in terms of market value, will have a new CEO in the person of Luiz Carlos Trabuco Cappi. The bank’s former chairman, 91-year old Lazaro de Mello Brandao is stepping down from his post. He has been serving in this capacity for the past 25 years. Brandao’s exit has triggered a race for his seat from among the hopeful executives of the bank.
Cappi has held the position of chief executive officer and will still function in this position until he assumes office in March of this year. The financial institution will hold an election for the person who will hold his former position of CEO.
Before relinquishing his post, Brandao has served in various executive positions at Banco Bradesco for the past 75 years, earning him the distinction of being one of the longest staying bank executive in the world. He started his career in the bank at 16 years old in 1943 as a lowly bank clerk. Through the succeeding years, Brandao eventually climbed up to become an executive of the bank. He held the bank’s CEO post from 1981 to 1999. After that, he became one of two chairmen of Bradesco, the first time the bank ever had the experience.
During his tenure as chairman, Brandao followed the management style of promoting the bank’s executives instead of looking for outside talents. The selection of Luiz Carlos Trabuco Cappi for the chairmanship of the bank is in keeping with this culture. Company insiders revealed that the choice for the next CEO to replace Cappi was limited to the seven highest ranking bank executives at Bradesco. Underlining the bank’s management culture, Cappi said in a media event that the choice will be coming from the bank’s own talent pool.
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The bank executives of Banco Bradesco who are being considered for the CEO post are the following:
André Rodrigues Cano who is 59 years old and is currently in charge of the bank’s human resources department
Octavio de Lazari, 54 years old, and is presently the head of the bank’s insurance team.
Marcelo de Araujo Noronha, 52 years old who is currently in charge of corporate and investment banking and card operation.
Domingos Figueiredo Abreu who is 58 years old and is presently the head of the lending and treasury departments of the bank.
Alexandre da Silva Gluher, the 57-year old current chief risk officer of the bank.
Mauricio Machado de Minas who is 58 years old and is now the head of Bradesco’s IT department.
Josué Augusto Pancini, 57 years old, and is now responsible for the bank’s branch network and its high income segment.
To emphasize this management style, Brandao explained that in order to ensure its continuity, they have to renew the board of the bank. He also added that his stepping down was his own decision. However, he mentioned that he will still be in charge of several holding companies of Bradesco.
Cappi, the incoming chairman of Banco Bradesco, was born on Oct. 6, 1951. Forbes entered his name in 2016 as one of Brazil’s best CEOs. He has earned his college degree at the Faculty of Philosophy, Sciences and Letters of Sao Paulo de Marilia. Cappi also earned a degree in Socio-Psychology at the Fundacao School of Sociology and a degree in Politics at Sao Paulo. His career at Bradesco spans 40 years wherein he held various positions of importance. He became the fourth president of the bank in 2009. Eight years later, he was appointed Chairman of the Board of Trustees in 2017. He is now poised to be its top honcho this coming March.