Luiz Carlos Trabuco will become chairman of the board of Bradesco

After a career spanning more than 7 decades, one of the oldest active bankers in the world will be retiring in the next couple weeks. Lazaro Brandao has been with Bradesco, one of the largest banks in Brazil, since the age of just 16. He joined the firm in 1943, the year that it was founded, as a bank teller and worked his way up through the ranks, eventually becoming CEO in 1981.

Luiz Carlos Trabuco, one of the few people who has worked at Bradesco nearly as long as Brandao, has been slated to take over as the chairman of the board of directors. Trabuco has the full support of Brandao, who says that his retirement was solely his decision and was done for the continuity of the company.

Trabuco has overseen a tumultuous decade as CEO of the firm, having overseen a tremendous decline in the company’s stock price and fortunes but also having redeemed himself in the eyes of shareholders with the 2015 acquisition of HSBC Brazil. Between the time that Trabuco took over the firm and the middle of 2015, the bank’s stock price plummeted by nearly 80 percent. Trabuco, an inveterate banker who is widely respected among his peers, was on the verge of losing his job.

But then, in late 2015, he announced that Bradesco would acquire HSBC Brazil for $5.2 billion in an all-cash deal. The news immediately sent the stock price soaring. The stock never stopped going up and is now trading at more than 2.5 times its 2015 lows.

Brandao himself has said that he is fully confident that Trabuco possesses all of the necessary traits to make a good chairman of the board. The announcement of Trabuco as the successor of the long-time chairman Brandao did not come as a surprise to many. They had long known that Brandao would retire, and Trabuco had already been granted various extensions of his tenure in order to see the integration of all of HSBC Brazil’s systems and businesses into the larger corporate structure of Bradesco. In fact, Bradesco’s own governance laws state that no one may serve as CEO past the age of 65. However, Brandao personally granted Trabuco multiple waivers in order for the CEO to continue his work on the HSBC acquisition deal and see it through to a successful resolution.

What comes next?

Trabuco himself will be responsible for appointing his successor, as is required by the corporate bylaws. Although Trabuco himself has been coy about who he will choose to replace him, he has assured the press that the new CEO will be chosen from within the ranks of the company, a tradition long adhered to by the company’s upper management.

Although there are at least seven potential names of people who are in a qualified position to take over the helm of Brazil’s largest bank, the name of Mauricio Minas seems to be the one at the forefront. Minas is a 58-year-old IT executive who has been responsible for overseeing the integration of all of HSBC Brazil’s technology systems with those of Bradesco. He was also largely responsible for the development and spinoff of the online banking platform Next, which started as an in house project for Bradesco but is now morphing into a major player in the Brazilian banking space in its own right.

At least six other candidates are fully qualified for the position, but those closest to the inner workings of the company say that Trabuco focuses far less on seniority and much more on talent and proven track records. This would make Minas the strong favorite.


Eucatex Contribution to Brazilian Economy

Eucatex in an innovative industry which uses some of the unique and readily available materials to make their products. Most of the products made by this company are meant to be used at home. Eucatex has been around for more than 50 years. The Brazil-based company manufactures goods for use both locally and for export too. The products that are produced by this company is environmentally friendly; the company has observed all the international laws as pertains environment conservation. When it was founded in the year 1951, Eucatex didn’t operate under any must follow international environmental regulations but still took care of the environment.

The effort made by Eucatex to keep the environment safe and pollutants free has not in any way caused them to lack the quality of their products. Eucatex has been able to go along way expanding and becoming better day by day because of the skilled and experienced managers and directors who have been monitoring the operations of the company from the top. Flavio Maluf is the current president of Eucatex.

Flavio is well educated to hold such a prestigious position. Flavio’s educational background has backed him up to be an excellent administrator; he graduated from FAAP University in Sao Paulo. Flavio has a plan of taking the economy of Brazil to the next level by implementing financial engineering in Eucatex.

The company has always contributed positively to the economy by handling upcoming economic issues professionally and looking for the solutions to contain the situation. Mr. Flavio is also a source of motivation to the young entrepreneurs; he has a lot of entrepreneurial skills that can motivate others. He gives talks on how one can make it in an interview, how to be a good employee and succeed, and how to move up the corporate ladder. Flavio’s blog is rich with information that can certainly see you go far in the corporate world. The significant achievements by Flavio and the number of years in the corporate world put him at the top of the list of people who can talk about the economy of the nation. Mr. Flavio has spoken of the bright future of Brazilian industry and its contribution to the economy.