The Resignation Of Brandao As Chairman Of Bradesco Triggers A Succession Race At The Company

The current CEO of Brazil’s Banco Bradesco, Luiz Carlos Trabuco told reporters that the company will pick its new CEO from internal candidates following the resignation of its chairman Lázaro Brandão. Bradesco, the second largest bank by market value, will announce the name of its new CEO 30 days before its collegiate meeting after the shareholders assembly that will be held in March, 2018.

Brandao resigned on Wednesday at 91 years-old after serving in the chairman position for 25 years and staying with the company for 75 years according to terra.com.br. He’s considered as one of the world’s oldest bank chairmen and one of the most prolific bankers in the world. During his formal resignation announcement, Brandao said that Trabuco will take over as Chairman and CEO of the lender assuming the leadership roles until the company chooses a new CEO in March next year.

Brandao joined Bradesco at a young age of 16 years when he started serving as a clerk in 1943. Over the years, he has been climbing the ladder of leadership roles where he has worked as one of the two chairmen that Bradesco has ever had since its inception and four of its CEOs. He held the position of CEO since 1981 to 1999 when he was replaced by Márcio Artur Laurelli Cypriano, who was also succeeded by Trabuco Bradesco in 2009. Brandao holds the number one employee badge in Bradesco that has its headquarters in Osasco.

Read more: O Bradesco, de Brandão a Trabuco


The Company’s Talent Pool

Brandao embraced a culture of promoting junior executives in the company to higher management roles whenever necessary instead of hiring new talents from outside. Trabuco’s announcement seems to be fostering that culture when he declared that Brandao’s replacement will be picked from within the company’s management team. Brandao is, however, expected to be an advisor to Bradesco’s shareholders and in charge of the lender’s holding companies. Trabuco told journalists on folha.uol.com.br that the choice of the new CEO has to respect the company’s own talent pool. Some of the most likely seven candidates to take over the CEO position at Bradesco include:

• Domingos Figueiredo Abreu: at 58, he’s responsible for the treasury and lending department and has been working for the bank since 1981.
• Alexandre da Silva Gluher: at 57, he’s the lender’s chief risk officer and has been working for Bradesco since 1976.
• Octavio de Lazari: at 54, he was appointed to head the insurance unit of Bradesco in May and he joined the company in 1978.
• Mauricio Machado de Minas: at 58, he is charge of the lender’s IT department and has been working here since 2009.
• Josué Augusto Pancini: at 57, he is in charge of the lender’s branch network and has been working for Bradesco since 1975.
• Marcelo de Araujo Noronha: at 52, is in charge of the bank’s corporate and investment banking and has been working for Bradesco since 2003.
• André Rodrigues Cano: at 59, is responsible for the human resource department and he joined the company in 1977.

The current CEO Luiz Carlos Trabuco was born in Marilla in 1951 and started his professional career at the company in 1969. He became the director in 1984 and was later elected Vice President in 1999. He continued climbing the ladder when he was appointed the Chairman of Bradesco Seguros Group, a position he held from 2003 to 2009 before he was elected the new Banco Bradesco CEO in 2009.

Find more about Luiz Carlos Trabuco: https://economia.estadao.com.br/noticias/geral,prisao-dos-irmaos-batista-nao-impactam-risco-da-jbs,70001996105