Recently, it has been announced that major changes will be taking place in the leadership of Brazilian banking giant Grupo Bradesco. The bank, one of the largest in the country, will be changing its top leadership, with Lazaro Brandao stepping down and Luiz Carlos Trabuco Cappi taking his place.
Trabuco Cappi is currently the acting CEO of the firm. This means that he will need to find his own replacement, a task that he will have until March of 2018 to complete. In the meantime, Trabuco Cappi will serve as both CEO and chairman concurrently, the first time that such an arrangement has been seen at the bank since the 1990s.
The king of Brazilian finance finally abdicates his gilded throne
Lazaro Brandao is considered the elder statesman of Brazilian finance. Having been with Bradesco since 1943, he is one of the longest-serving chairpersons in the world. Throughout his remarkable career, Brandao has seen the bank go from a one-branch thrift institution into one of the most important financial conglomerates in all of Latin America. And the role he played in making that happen was anything but inconsequential.
Acting as CEO of the firm from 1981, Brandao has overseen the period of the most spectacular growth in the company’s history. He served concurrently as both chairman and CEO between 1990 and 1999. As of today, he has been the chairman of the Bradesco board for 27 years according to camar.sp.gov.br.
It is not so much the longevity of his reign at the top but the results that his leadership have provided that have given him the reputation as being the godfather of the bank. Even as Brandao approaches the age of 93, many of the shareholders and board members with whom he has worked have expressed grave concern over what the future of the company will look like without him being present. But Brandao has reassured all stakeholders that Trabuco Cappi is precisely the man for the job. Brandao has stated that he and Trabuco Cappi think so similarly on many business issues that it is almost uncanny.
Brandao has stated unambiguously that, this time, his retirement will be permanent. He wishes to spend more time with his family and would also like to create the opportunity for younger executives to move up through the ranks of the firm.
Who will replace Trabuco Cappi
As Trabuco Cappi moves into his new role as chairman, the burning question remains as to who will ultimately replace him. At first, there were rumors swirling that Trabuco Cappi would be looking outside the ranks of the institution to find the next CEO. These unsourced claims had a certain amount of credibility, especially in view of the fact that Trabuco Cappi himself has long been a staunch meritocrat, even establishing an outside school to develop executive talent, so that Brazilian businesses would not have to constantly recruit from outside the country.
But Luiz Carlos Trabuco Cappi himself came out and stated forthrightly that he would not be departing from the company tradition of only recruiting the next CEO from within the firm’s own ranks. This leaves only a few potential candidates to fill the outgoing CEO’s shoes. Although, in theory, all of the current crop of junior executives share an equal chance of being appointed to the company’s top slot, observers close to the process believe that there is really only one name, a man who is the overwhelming favorite to become the next CEO of Bradesco.
Mauricio Minas, the firm’s chief technology officer, has been cited as the likely successor. It is said that Trabuco values his technological know-how above all else.
Search more about Luiz Carlos Trabcuo Cappi: http://www.valor.com.br/financas/5194121/trabuco-apesar-das-incertezas-investidores-acreditam-no-pais