Luiz Carlos Trabuco Prepares To Give Up His Position As CEO Of Banco Bradesco
March 10, 2018
After 25 years serving as the chairman of Banco Bradesco SA, Lazaro de Mello Brandao, one of the oldest banking chairmen in the world at 91, elected to step down from his position. Shortly after announcing that he would step down, Brandao appointed Luiz Carlos Trabuco, the CEO of the bank, as his successor. Trabuco eagerly took the position, becoming the chairman as soon as Brandao stepped down. He will continue to serve as both CEO and chairman until Octavio de Lazari Jr. is appointed later this month.
Bradesco’s Board Restructures in Anticipation of Lazari’s Appointment
The board decided on Lazari as the new CEO in early February of this year. Currently, Lazari serves as vice president and will continue to do so until he is appointed as CEO. Additionally, he will maintain the position as president of the Bradesco Seguros group. Lazari has been working with Bradesco since the age of 15, almost 40 years ago according to economia.estadao.com.br.
Lazari will be appointed to his new position as CEO during the inaugural meeting of Banco Bradesco’s new Board of Directors. The company’s new board of directors will be referring to the appointment of Lazari as the new CEO. While the composition of the new board has yet to be finalized, which will happen during a shareholders meeting shortly before Lazari’s appointment, there have been a number of changes within the board already.
Read more: Bradesco anuncia Octavio Lazari no lugar de Luiz Carlos Trabuco
A number of new members have been appointed to the board, all of which have long and illustrious careers with Banco Bradesco according to vv. The four new members are Domingos Figueiredo de Abreu, Josué Augusto Pancini, Maurício Machado de Minas, and Alexandre da Silva Glüher. Over their careers with Bradesco, they’ve striven to advance the bank’s many operations, and have put its success before their own gains. Aside from the appointment of the four new vice presidents, there have been a number of other changes to the board, including the resignation of Aurelio Conrado Boni from the Bradesco Board of Directors according to g1.globo.com.
Luiz Carlos Trabuco
Following Chairman Brandao’s long-expected retirement, the position of chairman was almost immediately handed to Luiz Carlos Trabuco, who, at the time, was serving as Banco Bradesco’s chief executive officer. He had been serving as the bank’s CEO since 2009 when he was originally appointed to the position. Prior to becoming the chief executive officer, Luiz Carlos Trabuco served as a vice president with Bradesco. Until Lazari’s formal appointment as CEO on the 18th of this month, Luiz Carlos Trabuco will continue to perform the duties of CEO in addition to his duties as chairman.
Luiz Carlos Trabuco has been working with Banco Bradesco SA for the vast majority of his professional career, first joining the bank just barely under 50 years ago. His service with Bradesco has been of great benefit to the company, with many of the bank’s most successful operations being performed under him. His career with Bradesco has been long and his reputation within the company is one of renown. With the amount he’s done for Bradesco, it came as no surprise when he was announced as their new chairman.
Learn more about Luiz Carlos Trabuco: http://economia.estadao.com.br/noticias/geral,bradesco-anuncia-substituto-de-luiz-trabuco-na-presidencia-do-banco,70002178384
Whoever Bradesco’s Incoming President Will BE, He/She Will Find A Competent Ally in Luiz Carlos Trabuco
November 10, 2017
About a week ago when former Bradesco chairman Lazaro Brandao announced his decision to vacate the position of chairman of the board, the Brazilian bank saw no one more deserving for the position than Luiz Carlos Trabuco.
Trabuco has been the president of the giant bank for the last seven years and the vice chairman of the board for the last three years. Given his immense contribution to the bank over the course of the last 48 years, no one is more deserving to take over the reins from Lazaro Brandao. However, as a consequence of him being named the chairman of the board, a new president will have to be picked to lead the Bradesco group.
The incoming president will become only the fifth ever president in its over seven-decade history. The reason Bradesco has had so few leaders despite its relatively long existence, is the fact that all of its presidents thus far have been very effective leaders thus negating the need for leadership changes midway into their tenures. The bank will be looking to accomplish the same with its next president and is consequently planning to pick him/her from among its current senior executives. Additionally, the mandate of the president will be slightly amended as he/she will no longer have a seat on the bank’s board.
However, Bradesco’s board is not in any hurry to name a new president. The bank’s bylaws expressly stipulate the time during which the board should make succession decisions relating to the presidency. That duration puts the expected time of appointment for the next president at March 2018. Until then, the bank will remain in the capable hands of Luiz Carlos Trabuco, who will serve as both president and chairman of the bank.
The immediate responsibility of Luiz Carlos Trabuco as the incoming chairman will be to on the expansion work that he and Lazaro Brandao had commenced with the aim of making Bradesco the largest private back in the country again. For a large portion of its existence, Bradesco was the largest private bank in the country. However, in 2008, the bank lost the position to a new rival, Itau Unibanco. While losing the dominant market position greatly wounded the bank’s pride, Luiz Carlos Trabuco has for the last four years been working towards reclaiming the top position and has, in fact, gained significant ground on the larger competitors.
The 2015 acquisition of HSBC Brazil by Bradesco for over 5 billion dollars will forever remain the shrewdest piece of business done by Luiz Carlos Trabuco during his tenure. While there is no escaping the fact that the price tag associated with the acquisition was huge, even for Bradesco, the deal has, in turn, resulted in great returns for Bradesco. The bank has grown its customer-base to well over 30 million, increased is asset-base to close to $400 billion and expanded its branch network to approximately $5,500 branches. Consequently, Bradesco is now closer to Itau Unibanco than it has ever been since 2008. It is a realistic possibility that through cohesive work, Luiz Carlos Trabuco and the incoming president could help Bradesco retake the dominant position in the next few years.
The new president will also get a lot of assistance in the position as Luiz Carlos Trabuco has long had a passion for mentoring others. As soon as he was named Bradesco’s president in 2009, he set up a corporate university to facilitate the training of the bank’s executives in leadership skills. It is a tradition that has practiced by of the bank’s previous four presidents.
Search for more information about Luiz Carlos Trabuco: https://g1.globo.com/economia/negocios/noticia/sucessao-no-conselho-do-bradesco-foi-um-ato-planejado-diz-trabuco.ghtml