The leadership structure is a lot different today to what it was a few weeks ago. Luiz Carlos Trabuco is now the chairman following the departure of Lazaro Brandao. Additionally, the bank is now in the process of choosing a new president.
Calling an End to a Colorful Career
Lazaro Brandao has been working at Bradesco for the last 74 years. In fact, given the fact he joined the bank in the same year that it was formed, he is undoubtedly the longest-serving employee that the bank has ever had. During the seven-decade period that he has been at the bank, he has served in numerous positions with the most significant being those of president and board chairman. He became the bank’s chairman in 1990 following the death of the bank’s founder, Amador Aguiar and competently served in the position until he resigned last month. As chairman, he has cordially worked with and strongly supported the strategic decisions taken by the bank’s presidents. For instance, when Luiz Carlos Trabuco approached him with the idea of acquiring HSBC Brazil for over $5 billion, rather than sulking at the huge price tag involved, Brandao looked at the potential benefits to the Bradesco brand. He consequently gave his approval to the deal that has now made Bradesco one of the largest banks in the country again. While Lazaro Brandao did not appoint his successor, he has strongly expressed his satisfaction in Luiz Carlos Trabuco being chosen for the position as he sees great leadership ability in him.
Who Will the Incoming President Likely Be?
Speculation often accompanies succession processes at companies, and it has not been different at Bradesco. It has further been complicated by the fact that Bradesco will likely not name a new president anytime soon. The bank’s bylaws specify that a new president is named 30 days before the shareholders’ meeting. We are, therefore, in for a long wait as the next meeting is planned for March 2018. However, looking at the bank’s history thus far, we can speculate with a great degree of certainty that the next president will be chosen from within the bank. Consequently, the pool of potential candidates becomes a lot smaller, with the bank’s current vice presidents the senior-most leaders at the bank. Four vice presidents – Alexander Gluher, Octavio Lazari, Mauricio Minas and Josue Pancini – are especially considered the most qualified and experienced.
From a Clerk to Board Chairman
Having joined Bradesco in 1969, Luiz Carlos Trabuco has served in almost all hierarchical position at the bank. His first position at the bank was the at the entry level – that of being a clerk. However, despite this humble origins, he has scaled the entire leadership ladder at the bank to become the chairman of its board. This is not a meager achievement as it has taken 48 years – the entirety of Luiz Carlos Trabuco’s professional career. Now that he has gotten to the senior-most position at the bank, there is no doubt that Trabuco will be looking to strengthen his legacy with a high-performing tenure.
An Improving Economy
After a few years of troubles, the Brazilian economy is finally showing signs of significant improvement. In fact, the economic recession that commenced in 2015 was labeled the worst in decades. Since the effects of a declining economy can be quite devastating for a huge bank such as Bradesco, the incoming president will be grateful to find an improving economy. Further, the resurgent economic climate will also make it a lot easier for Luiz Carlos Trabuco and the incoming president to chart growth trajectory that will enable Bradesco to become the largest private bank in the country again. Visit: http://www.camar.sp.gov.br/images/imagesnoticias/851/principal.html