Bradesco Will Pick a New CEO From its Pool of Staff

Posted by Cameron on December 3, 2017 in Business, Businessman, CEO, Company, Entrepreneur |

 

Banco Bradesco SA is one of the high ranking private banks in Brazil. In fact, it is the second leading private bank after Itaú Unibanco, which took the coveted no.1 spot from Bradesco in 2009. Although Bradesco plays second fiddle to Itaú Unibanco, it outperforms Itaú Unibanco in certain aspects such as branch network, total number of employees, number of account holders, and total investments funds. Thanks to the current CEO, Luiz Carlos Trabuco, who spearheaded the purchase of the HSBC Holdings Plc.’s retail unit in Brazil in 2015 enabling Bradesco to edge closer to its main competitor, Itaú Unibanco. So far, Luiz Carlos Trabuco’s tenure in office has been signified by such landmark developments that have impacted the bank positively. Perhaps that is what the bank considered in appointing him the new chairman of the Osasco based institution after the abdication of the immediate former chairman, Lazaro de Mello Brandao.

Brandao announced his wilful resignation last month. Accompanied by Trabuco, Brandao announced his stepping down emphasizing that his decision considered the interests of Bradesco, the bank he had served for over 74 years. The 91-year-old Brandao held the view that his resignation would allow the younger Trabuco—66—to take over the leadership of the board of directors fostering Bradesco’s spirit of continuity and renewal. Even though he relinquished the presidency position, Brandao is still the president of Fundação Bradesco, chairman of Bradespar SA, and chairman of the Institute of Diseases of the Digestive System and Nutrition.

From 1943 to last month, Brandao held different professional positions at Bradesco. He started out as a clerk, went through the mid-level management, and secured a spot in top management in 1981 when he was appointed as the second overall president of the bank. In 1991, he obtained an appointment as the second chairman of the bank replacing the founding chairman Amado Aquair who was also the founding president and the founder of Bradesco. Having risen through the ranks of the Osasco based bank purely on merit, Brandao was inclined to doing the same to high-performing junior members of staff.

One of the beneficiaries of the culture that Brandao created is Luiz Carlos Trabuco. Trabuco being a promising employee with desirable leadership traits was rewarded severally through promotions. Just before his appointment as the president of the bank in 2009, Trabuco was in charge of Bradesco Seguros, an insurance subsidiary of Bradesco. He had held the presidency of the branch for close to six years. During his tenure, Bradesco Seguros doubled in size and cemented its position in the group through increased income. While the head of Seguros, Trabuco was recognized as “Business Sector Leader,” twice as “Personality of Insurance of the Year,” among other titles.

 

Trabuco assumed the presidency in 2009 when Bradesco was at its lowest point Itau Unibanco having dethroned it of market leadership. Although he was as worried as other leaders concerning the occurrence, Trabuco chose to focus on service delivery. To this end, he established the award-winning Unibrad Corporate University to nurture the company’s employees. Trabuco is indeed an embodiment of forward-thinking leaders. But who will match-up to his performance?

 

Bradesco has over 100 thousand talented employees. The bank is not experiencing a shortage of talent, and it stated that it would pick a new CEO from among its employees as opposed to scouting for Trabuco’s replacement outside Bradesco. Seven employees considered to be the front-runners in Trabuco’s succession race include:

  • Mauricio Machado de Minas
  • Alexandre da Silva Gluher
  • Domingos Figueiredo Abreu
  • Josué Augusto Pancini
  • Marcelo de Araujo Noronha
  • Octavio de Lazari
  • André Rodrigues Cano

For more information on Bradesco to Choose Board Member as New President, says Trabuco Visit: https://g1.globo.com/economia/negocios/noticia/sucessao-no-conselho-do-bradesco-foi-um-ato-planejado-diz-trabuco.ghtml

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