Bradesco’s New CEO To Commence Serving In March

Banco Bradesco SA ranks high in the Brazilian banking sector. The 74-year-old bank is the second largest by market value in the country. In fact, prior to 2009, Bradesco was the largest private bank, but the merger between Itaú and Unibanco to create Itaú Unibanco dethroned Bradesco of the coveted first position it had held for decades. However, the bank has been working round the clock to regain market leadership as well as improve its other standings such as service delivery.

Bradesco is ready to shoot every bullet in its arsenal to regain market leadership according to The current drive to recruit a high ranking chief executive officer is a case in point. Banco Bradesco’s CEO, Luiz Carlos Trabuco, will resign in March and the bank is scouting for a professional who will steer the bank to prosperity in the same manner that Trabuco and other CEOs did. Although Trabuco will resign soon, he still will be part of Bradesco as the chairman of the board of directors. Trabuco assumed the chairmanship of the bank on October 11, 2017, when Lazaro de Mello Brandao resigned.

Apparently, the battle to succeed Trabuco will be among Bradesco’s high ranking employees. According to insiders knowledgeable on the goings-on at the bank, seven Bradesco’s employees are the front-runners in the succession race. They 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

While the seven are high performing employees, they differ in certain aspects such as the duration they have worked at the bank, age, and of course the roles they currently hold at the bank. Pancini, 57, is the longest-serving having worked at Bradesco since 1975 while Machado de Minas, 58, is the latest entrant having joined the bank in 2009. The seven leaders are in charge of various departments such as IT, human resources, as well as Bradesco’s subsidiaries such as Bradesco Seguros. Following Trabuco’s remarks in a media event that Bradesco will respect its pool of talent, it is expected that one of the seven mentioned executives will begin serving the bank as president starting March.

Read more: Bradesco: New president to leave executive body, says Trabuco

Lazaro de Mello Brandao

Brandao was the chairman of Bradesco for 26 years. He was also the CEO of the bank starting in 1981 to 1999. Between 1991 and 1999, Brandao was both the chairman and the CEO of the bank according to Apart from the two topmost posts, Brandao held other crucial positions at the bank in his career spanning over 74 years. While Brandao rose to become the face of Bradesco, many are skeptical of the fact that he began his career at the bank as a clerk. During his resignation, Brandao stated that he was proud of his career at the bank and that the decision to step down was willful.

Luiz Carlos Trabuco

He is both the chairman and CEO of Bradesco. However, Trabuco will resign in March and focus entirely on discharging the chairmanship duties. Trabuco joined Bradesco in 1969, and just like Brandao, he was hired to discharge clerical duties. His career spanning 48 years epitomizes the ability of Bradesco to nurture talent and reward its staff.

During his tenure as CEO and in other lower ranks, Trabuco accomplished a lot that put the bank on the map. For example, in 2015, he spearheaded Bradesco’s purchase of the Brazilian branch of HSBC for $5.2 billion. The acquisition, quoted as the most significant transaction in 2015, elevated Bradesco above Itau Unibanco in some banking aspects while making it close second in other aspects. The bank is yet to witness interesting times ahead with Trabuco as the chairman of the institution.

Search more about Luiz Carlos Trabuco:

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