After over 27 years as the chairman of Banco Bradesco (known simply as Bradesco), Lazaro de Mello Brandao resigned. It is noteworthy to indicate that Brandao has worked at Bradesco for over the 27 years that he was the chairman of the second largest private bank in Brazil. He became part of the bank in 1943. He was a junior staff then, a clerk. In 1963, Brandao was made a director at the bank; 14 years later, a vice president.
Brandao got his big break in 1981; he was appointed the president of the bank. His impressive performance as the CEO of the bank earned him the chairmanship of Bradesco in 1990. Between when he was made the chairman and 1999, Brandao was both the chairman and the CEO of Bradesco. As the CEO and chairman, Brandao was a successor to Amado Aguiar (1904 – 1991), the founder of the banking institution. In 1999, Brandao saw it wise to relinquish his post as the president to concentrate fully on his role as the chairman of Bradesco.
Following his resignation in 1999, a contest for the office of the president ensued. Many professionals lined up to take over from Brandao including the current chairman and CEO, Luiz Carlos Trabuco, Trabuco was only 48 years, and according to Bradesco’s standards, he was “too young” to be given such a demanding job. Marcio Cypriano emerged the winner of the contest: he was appointed as Brandao’s successor.
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Meanwhile, Brandao continued to be the chairman of the bank even when Cypriano resigned, and Trabuco took over from him in 2009. When Bradesco made a significant purchase—5.2 billion—in 2015, Brandao and Trabuco were the faces of the transaction that saw the bank acquire the Brazil’s unit of HSBC Holdings Plc. The two have worked in harmony to improve service delivery in all the 5, 314 branches of Bradesco and in all efforts meant to establish Bradesco not only as the leading private bank but also a market leader in the Brazil’s financial sector. Also, the two believe that the success of any organization relies on its employees.
Trabuco is credited with the establishment of the recently named the “Best Corporate University in the World,” Unibrad. It had always been rumored that Trabuco would succeed Brandao; the speculations were confirmed when Bradesco named him as Brandao’s successor.
Trabuco, as per Bradesco’s bylaws, is scheduled to leave office soon. He will turn 67 sometimes next year, and the bank’s constitution demands that office holders should resign at 67. His resignation as CEO will only mean that Trabuco will have ample time to serve the bank as the chairman.
Bradesco being a high-performing financial institution draws interest not only in Brazil but also across the world. Experienced professionals in the banking industry would trade anything for a chance to be the president of the firm. However, as things get unfolded, it is becoming clear that Bradesco will favor its employees in the succession contest. Already, some Bradesco’s staff that can succeed Trabuco have been identified. They include, but not limited to Mauricio Machado de Minas, Alexandre da Silva Gluher, Domingos Figueiredo Abreu, Josué Augusto Pancini, Marcelo de Araujo Noronha, Octavio de Lazari, and André Rodrigues Cano.
The bank is in for interesting times as Trabuco takes office with his revolutionary policies. The alumnus of the University of São Paulo and Fundação School of Sociology and Politics has demonstrated that he believes in change. While Aguiar disliked segmentation, Trabuco was a proponent of the same. In fact, the bank has successfully implemented segmentation. Also, unlike Brandao, Trabuco is more open to the idea of bringing in leaders from competing institutions.
Learn more about Luiz Carlos Trabuco: http://www.tostoadv.com/bradesco-quer-mudar-regra-para-trabuco-ficar-no-cargo/