Lazaro de Mello Brandao, at the age of 91 was considered the oldest serving bank chairman in the world. He recently announced that he was stepping down after serving in the same position for 25 years at Banco Bradesco SA. This move will trigger a fierce succession battle of the CEO at the second-largest bank in Brazil. The current CEO, Luiz Carlos Trabuco Cappi, is expected to replace Mr. Brandao. He will be in charge of both positions until the month of March, when the new CEO will be named.
Decision to Resign
Brandao, started off his career as a clerk back in 1943 and rose up the ranks to become of the only two chairmen the bank has ever had. He is among the only four CEOs that have served at the bank, from 1981 – 1999. Mr. Brandao, the holder of the No. 1 member of staff badge at Bradesco, informed journalists that he had reached the decision to resign on his own volition. Despite his resignation, he will still be in charge of a number of the bank’s holding companies.
During his stint as the chairman, Brandao developed a culture in management that preferred the promotion of executives from the existing ranks within the company as opposed to scouting outside for fresh talent. This is the same course that Bradesco is expected to follow when choosing a replacement for Luiz Carlos Trabuco Cappi. It is expected that the bank will fill the vacancy in the CEO’s office with one among the seven of its uppermost ranking executives. This is according to persons privy to such information who requested anonymity as these deliberations are private.
Luiz Carlos Trabuco Cappi revealed that the choice of the new CEO will be largely influenced by the existing pool of talent at the bank. The CEO was speaking at a media event recently. Banco de Bradesco made headlines last year when it altered its bylaws to enhance the maximum age of its CEOs from 65 to 67. This gives Luiz Carlos Trabuco Cappi adequate time to name his successor.
Brandao’s Thoughts on His Decision to Step Down
Brandao revealed that he had absolutely no regrets from the 75 years he has worked at the bank. He also revealed that he would maintain the same desk from which he has been working from over the last few years. Brandao stated that when he broke the news of his stepping down to his family, they reacted by saying “It’s about time.”
Possible Candidates for the CEO’s Position
A number of candidates have been fronted as possible replacements for Luiz Carlos Trabuco Cappi. These are; Mauricio Machado de Minas (58, head of IT department), Alexandre da Silva Gluher (57, chief risk officer), Domingos Figueiredo Abreu (57, treasury and lending departments) and Josue Augusto Pancini (57, branch network and high income segment). Others include Marcelo de Araujoi Noronha (52, corporate and investment banking), Andre Rodrigues Cano (59, human resources department) and Octavio de Lazari (54, new member of the bank’s higher management team).
About Luiz Carlos Trabuco Cappi
Mr. Luiz Carlos Trabuco Cappi is currently the CEO from March 10, 2009 and soon-to-be president of Banco Bradesco S.A. He has previously served as the executive vice president of the bank. He joined Bradesco on April 17, 1969 and has held a number of positions at the bank throughout his career there. Prior to working at Bradesco he worked for the National Association for Private Pension and ABRASCA as a managing board member. He holds a Masters from the University of Sao Paulo’s School of Sociology and Politics. He had earlier graduated from the same institution’s faculty of Philosophy, Sciences, Language and Arts.https://relationshipscience.com/luiz-carlos-trabuco-cappi-p3489986