With over 74 years in the Brazilian financial sector, Banco Bradesco SA has had only four CEOs: Amado Aguiar, Lazaro de Mello Brandao, Marcio Cypriano, and Luiz Carlos Trabuco. However, with the impending resignation of the current president, Trabuco, Bradesco is on its way to having its fifth CEO.
Trabuco, 66, joined the Osasco based bank in 1969. He has remained at the bank amassing professional experience and ascending the corporate ladder. The bank appointed him president in 2009 succeeding Cypriano who had served as CEO for ten years. Trabuco has been the president of Bradesco for over eight years, and he will step down in the coming year as demanded by the bank’s bylaws.
The imminent resignation of Trabuco has generated interest in the country’s banking sector with various people speculating on who might be his successor. Speculators have had an easy time with Bradesco indicating that only its high ranking employees would be considered for the presidency. They immediately analyzed some Bradesco’s high ranking executives and developed a list of seven professionals whom one of them will probably take over from Trabuco. The seven are:
• Mauricio Machado de Minas
• Alexandre da Silva Gluher
• Domingos Figueiredo Abreu
• Josué Augusto Pancini
• Marcelo de Araujo Noronha
• Octavio de Lazari
• André Rodrigues Cano
Read more: O Bradesco, de Brandão a Trabuco
As indicated earlier, the seven are high ranking: they are in charge of either departments or subsidiaries. de Minas is the head of Bradesco’s IT department, Gluher is the bank’s chief risk officer, Cano is the chief of the human resources department, and Lazari manages Bradesco Seguros, etc.
According to folha.uol.com.br, Bradesco considers several factors in appointing a professional to be the CEO of the institution. The previous three appointments demonstrated the number of years a professional has worked at the bank coupled with their age are among the priorities. Brandao, Cypriano, and Trabuco started their careers at the bank. Both Brandao and Cypriano were appointed CEOs when they were 55-years-old, and Trabuco was 58. At the time of his appointment, Brandao had served the bank for 38 years, Cypriano had been at Bradesco for 32 years while Trabuco had worked at the Osasco based bank for 40 years. Perhaps that is the reason why analysts came up with names of professionals that have been at the bank for an average of 31 years, and they are all in their 50’s.
The Chairmanship of Bradesco
Since it was founded, Bradesco has had only two chairmen that served till they resigned wilfully; Aguiar and Brandao. Brandao was the chairman of the bank starting in 1991 until October 11. Brandao took over the chairmanship of the bank from Aguiar, the founder of the bank and its first CEO and first chairman. With Brandao’s resignation last month, the bank chose Trabuco as the new chairman. So far, he has held the office for slightly over a month. Before the bank appoints a new CEO, Trabuco doubles up as president and chairman of the bank.
Brandao, 91, resigned having served the Osasco based bank for over 74 years. He first joined the bank in 1943 as a clerk. He then worked his way up through Bradesco until his appointments to the executive on terra.com.br. Over the years, he has been the face of the bank, and he has a hand in all significant transactions that the bank undertook in the recent past.
Trabuco appointment came as no surprise. It was almost obvious that he would take over from Brandao. Just like the immediate former chairman, Trabuco joined the bank as a clerk in 1969. He has worked his way up the bank, and he now holds two of the most important positions at the bank.
Search more about Luiz Carlos Trabuco: https://economia.estadao.com.br/noticias/geral,prisao-dos-irmaos-batista-nao-impactam-risco-da-jbs,70001996105