The last few weeks have been very eventful at Banco Bradesco. The large Brazilian bank lost its most experienced employee after board chairman, Lazaro Brandao decided to step down from his position. His deputy on the board and the bank’s current president, Luiz Carlos Trabuco Cappi was then selected to become the bank’s next chairman. Consequently, a new president has to be selected in the coming weeks to also take over from Luiz Carlos Trabuco Cappi.
With a career in banking as old as Banco Bradesco itself, Lazaro Brandao’s influence and expertise will be greatly missed at the bank. He joined the bank in the same year that it was formed, going on to become its undisputed longest-serving employee. In addition to being chairman, he has previously served as the president of the bank and guided it through its journey to become a multi-billion dollar financial institution. Further, many of the current leaders at the bank were mentored by him, including his able successor, Luiz Carlos Trabuco Cappi.
For Luiz Carlos Trabuco Cappi, his promotion to the position of chairman is a culmination of decades of diligent and steadfast hard work at Banco Bradesco.
Having joined the bank in 1969, he has now been working there for close to five decades. Banco Bradesco is in his soul just as much as he is in its soul. During his time at the bank, he has held numerous positions of senior leadership.
One of his most outstanding stints includes being the marketing director at the bank from 1984 to 1992. At the time of his appointment to the role, he was one of the youngest department directors at the organization. However, his youth did not get in the way of him doing his job as he considerably improved the bank’s relations with the press.
A few years later he would again serve in a high-intensity docket at the bank as he was named the president of its largest subsidiary, Bradesco Seguros in 2003. He served in this capacity for six, managing in that short duration of time to double the subsidiary’s value and cement its position as the largest insurance company in the country.
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However, Luiz Carlos Trabuco Cappi’s most successful tenure thus far has been in the position of bank president. He was named to the position in 2009 following a very successful six years at Bradesco Seguros. Despite being faced with challenging economic conditions for much of his tenure as president, Luiz Carlos Trabuco Cappi ensured that the bank remained on a steady growth path.
His greatest single action at the bank is orchestrating the biggest acquisition in its 74-year history. He in 2015 initiated negotiations for the purchase of HSBC Brazil for a reported $5.2 billion. The deal was signed in the same year, becoming the largest financial transaction in the private sector that year.
It also led to Banco Bradesco consolidating its position as the second largest private bank in the country and gaining significant ground on the leading Itau Unibanco.
While becoming chairman will require Luiz Carlos Trabuco Cappi to step away from many of the executive roles he previously performed as president, do not expect his influence to reduce even by the slightest bit. Since the incoming president will no longer have a seat on the bank’s board, he/she will have to collaborate closely with Luiz Carlos Trabuco Cappi on the day-to-day running of the bank. Additionally, Luiz Carlos Trabuco Cappi is set to remain the president at Banco Bradesco until March 2018 when the next president will be selected and announced.
Find more about Luiz Carlos Trabuco Cappi: http://economia.estadao.com.br/noticias/geral,trabuco-afirma-que-anuncio-de-substituto-pode-acontecer-antes-do-calendario-de-sucessao,70002039084