Luiz Carlos Trabuco, the current President of Bradesco has announced changes to the executive Board of Directors. These changes include a new president, a new vice president, a new Chairman of the Board of Directors. Luiz Carlos Trabuco stressed the bank has always promoted from within the organization and encourages upward mobility, and this process of the selection of the new members should not come as a surprise.
Luiz Carlos Trabuco, has been president since 2009, and was two years ago named the Entrepreneur of the year by Money Magazine, for the acquisition of HSBC’s Brazilian division. The deal to buy HSBC was $5.2 billion deal, the largest in Brazil that year. The current Chairman of the Board of Directors, Lazaro Brandao extended the age restriction of the presidency from 65 years to 67 years. Lazaro Brandao explained it was necessary to make this change temporarily, to allow the selection process of the new president be made in a less stressful environment, by giving an additional two years. Lazaro Brandao went on to explain in addition to the recent acquisition of HSBC, the board found it in the best interest of the company to make these changes.
Read more on globo.com
After careful consideration Octavio de Lazari Junior will become Bradesco’s 5th president to lead the banking giant. Luiz Carlos Trabuco confirmed Octavio de Lazari Junior will be officially appointed during the Ordinary General Assembly (AGO) meeting that is scheduled for March 12th 2018. Ordinary General Assembly (AGO) has had an extraordinarily decorated career with Bradesco, dating back to when he started back in 1978. Since 1978, Octavio de Lazari Junior has been an Agency Manager, Director of Credit, Department Director of Loans and Financing, and in 2017 Vice President and Chief Executive Officer of Bradesco Seguros. Luiz Carlos Trabuco revealed there was some push back to the choice of selecting Mr. Octavio de Lazari Junior as new president, despite his qualifications. The vice president seat vacated with the appointment of Octavio de Lazari Junior will be filled by Carlos Alberto Rodrigues. Carlos Alberto Rodrigues has been Bradesco since the age of 13.
Lazaro Brandao has officially announced his retirement after a 75 year career with Bradesco. Lazaro Brandao is also former president, and was instrumently in the 2015 deal to acquire HSBC. With the retirement of Lazaro Brandao as Chairman of the Board of Directors, Luiz Carlos Trabuco will now take over as Chairman, and until the AGO meeting he will be president also.
The new executive make up will be Octavio de Lazari Junior as new president. Luiz Carlos Trabuco will be new Chairman of the Board of Directors and Carlos Alberto Rodrigues will be the newest Vice President. Both Luiz Carlos Trabuco and Lazaro Brandao shared their take on the causes of the current economic climate in Brazil and what the future brings. Luiz Carlos Trabuco is very optimistic about the future of credit in the market, due to the recent growth in the country’s GDP. Lazaro Brandao pointed to the need for labor reform and ending political infighting as key areas that need to be addressed to improve the economic situation.
Graduating from the University Of Sao Paulo, with a degree in philosophy, Luiz Carlos Trabuco Cappi initial position with Bradesco was a bank clerk back in 1969. Luiz Carlos Trabuco Cappi was a bank clerk for two years, before moving to Sao Paulo in 1971, and was promoted to be the Director of Marketing.