Who is Likely to Succeed Luiz Carlos Trabuco as the new President of Banco Bradesco SA?
Banco Bradesco SA, a reputable bank in Brazil, is the talk of the town as it plans to unveil a new CEO who will succeed the outgoing president, Luiz Carlos Trabuco. As expected of any high-ranking financial institution, the appointment of chairpersons, presidents, heads of departments, etc. is a closely guarded affair. However, information always finds its way into the public domain. In the case of Bradesco, insiders confided to Bloomberg the names of seven Bradesco’s employees likely to succeed Luiz Carlos Trabuco.
A Look at the Seven Professionals
- Mauricio Machado de Minas
- Alexandre da Silva Gluher
- Domingos Figueiredo Abreu
- Josué Augusto Pancini
- Marcelo de Araujo Noronha
- Octavio de Lazari
- André Rodrigues Cano
The seven are presently in charge of Bradesco’s departments, subsidiaries, or other essential roles.
Minas is the team leader of Bradesco’s IT department. Minas, 58, joined Bradesco in 2009. Prior to joining Bradesco, Minas was part of CPM Braxis SA. Mina’s 9-year tenure at the Osasco-based Bradesco has seen the bank’s IT department cement its position in the industry as the market leader regarding the adoption of new technology.
Gluher has been at Bradesco since 1976. He is the bank’s chief risk officer. Gluher, 58, was among the professionals credited for Bradesco’s successful acquisition of the Brazilian branch of HSBC in 2015.
Pancini is in charge of Bradesco’s branch network and its high-income segment. Pancini, 57, has been Bradesco for 43 years.
Abreu, 58, is in charge of Bradesco’s treasury and lending departments. Just like Gluher, Abreu was instrumental in Bradesco’s takeover of HSBC Holdings Plc.’s retail unit in Brazil. Bradesco hired Abreu in 1981.
Noronha is responsible for Bradesco BBI, which deals with the bank’s corporate and investment banking as well as card operations. Noronha,52, became part of the Osasco-headquartered bank in 2003.
Although Lazari has been at Bradesco since 1978, he was appointed to the bank’s higher management team in 2016. He is the president of Bradesco Seguros, a subsidiary in charge of the bank’s insurance business. Lazari is 54.
At the helm of Bradesco’s human resources department is Cano. The 59-year-old joined the bank in 1977. Just like Lazari, he became part of Bradesco’s higher management team in 2016.
The seven professionals whose average age is 56 years have been at the bank for an average period of 32 years. They perfectly fit the profiles of individuals who have served as presidents of Bradesco. Lazaro de Mello Brandao was appointed the second president of the bank when he was 55-years-old. At the time of assuming office, Brandao had served Bradesco for 38 years. Marcio Cypriano became the third president of Bradesco at 56. At the time of appointment, Cypriano had served Bradesco for 26 years. The outgoing president, Luiz Carlos Trabuco, became the fourth CEO of Bradesco in 2009. Luiz Carlos Trabuco has been at Bradesco since 1969. He assumed office at 58.
Luiz Carlos Trabuco
On October 11, 2017, Bradesco confirmed that Luiz Carlos Trabuco will still be part of the bank even after his resignation in March after the bank named him the new chairman. Luiz Carlos Trabuco was appointed the chairman of the board of directors after Brandao,91, willfully stepped down. Brando had been the chairman of Bradesco for over 26 years.
Luiz Carlos Trabuco joined Bradesco as a clerk in 1969. Starting out as a junior staff motivated Luiz Carlos Trabuco to focus his energy on moving up the corporate ladder. Today, Luiz Carlos Trabuco, 66, holds both the most powerful positions in the hierarchy of modern institutions; he is the chairman of the board of directors and the CEO of Bradesco.