For the last seven decades, Bradesco has been one of the best-run banks in Brazil. In addition to having sound foundation principles that involve empowering community members, the bank is also magnificently structured with a complex culture guiding all its processes. This has allowed Bradesco not only to grow to become one of largest financial institutions in the country but also maintain the position despite a number of leadership changes. Owing to the resignation of its longest-serving employee last month, the bank has been thrust into a situation where it has to replace its current president. The remaining leaders and its famed culture will have to ensure that the bank is successfully guided through this complex situation.
The Bradesco employee who resigned from his position of former chairman, Lazaro Brandao. He decided to vacate from his position largely due to his advanced age – he is currently 91 years old. Fortunately, now he will be able to spend a lot more time with his family, which consistently supported his endeavors at the bank but felt shortchanged by the numerous hours he spent away from them. Given Luiz Carlos Trabuco Cappi’s extensive experience in the company, which also includes being a board member for the last three years, he was immediately selected to take over from Lazaro Brandao. However, Luiz Carlos Trabuco Cappi has been serving as the bank’s president for the last nine years. Consequently, the bank now has to select a replacement for his previous post. However, until the next president is selected early next year, Luiz Carlos Trabuco Cappi will both chair the board of directors and continue serving as the bank’s president.
Read more: Luiz Carlos Trabuco Cappi é o empreendedor do ano nas finanças em 2015
The next president will definitely come from within Bradesco. One of the traditions in the bank’s famed culture is promoting senior talent from within the bank. This is what the bank did with Luiz Carlos Trabuco Cappi, Marcio Cypriano before him and also Lazaro Brandao before him. It is a proven succession strategy that will not be overlooked this time around. Therefore, come March 2018, the individual selected to become the new president will be that of one of the bank’s current vice presidents.
While Lazaro Brandao’s departure will be a great loss for Bradesco, it is fortunate to have kept the services of Luiz Carlos Trabuco Cappi. Cappi is now the longest-serving employee at the bank, and his influence will undoubtedly be needed to assist Bradesco to get out of this situation unscathed. He is a close ally of Lazaro Brandao and has been greatly mentored by the veteran banker. The collaborated closely on issues affecting the bank. For instance, Lazaro Brandao acted with haste to support Luiz Carlos Trabuco Cappi in completing the biggest deal in Cappi and the bank’s history in 2015. Despite it being a year marked by recession, Brandao approved his multi-billion proposal that saw Bradesco purchase HSBC Brazil for slightly over $5 billion. The acquisition has since gone on to become one of the most successful in the history of the Brazilian banking industry. Few chairman would have trusted their presidents with such large sums of money as Brandao did.
The last two positions Luiz Carlos Trabuco Cappi has held at Bradesco have been punctuated with numerous awards and accolades. First, as the head of the bank’s subsidiary, Bradesco Seguros he was on two separate occasions named the insurance personality of the year. Again, as the president of the bank, he was included in Forbes Magazine’s list of the top chief executive officers in Brazils. Hopefully, Luiz Carlos Trabuco Cappi will impress enough to continue receiving such awards as chairman of the bank.
Find more about Luiz Carlos Trabuco Cappi: http://www.valor.com.br/financas/5194121/trabuco-apesar-das-incertezas-investidores-acreditam-no-pais