Luiz Carlos Trabuco will be replacing Lazaro de Mello Brandao as the CEO of Bradesco. Being 91 years old, Lazaro Brandao is one of the longest-serving bank executives in the world. He has been in the position for over 25 years. Brandao is one of the two chairmen that Bradesco has had in its lifetime. He was the CEO of the firm from 1981 to 1999. Starting as a clerk at 16 years old, Brandao worked his way up to the management level. He will be resigning from his position as Chairman of the Executive Board of Bradesco. However, Brandao will control some of Bradesco`s holding firms.
Brandao, the holder of the No.1 employee badge, told journalists that he made a personal decision to step down from the Chairmanship. He also added that Bradesco`s board required a change to ensure continued success. Brandao had used his position, as Chairman of Bradesco, to foster a culture that favored the promotion of executives from the organization`s ranks. This is a course that the company is set to utilize as it looks for Trabuco`s replacement. Brandao believes outsourcing of executives is a regressive rather than a progressive move.
Read more on g1.globo.com
What Next for Bradesco
The current CEO of the Bradesco, Luiz Carlos Trabuco, will continue being the CEO until March. The bank will nominate a new CEO because the bank`s policy does not allow one person to manage two executive positions. The bank amended its bylaws to increase the maximum age of CEOs from 65 years to 67 years. As a result, Luiz Carlos Trabuco has until the begging of next year to appoint a new CEO.
List of 7 Possible Candidates
§ Andre’ Rodrigues Cano
At 59 years old, Cano is an executive who is in charge of the human resource department. He has not served, at his position, for long because he was promoted in December. He started working at Bradesco in 1977.
§ Octavio de Lazari
The 54-year-old executive leads the company`s insurance department. The unit makes a third of Bradesco`s profit. Although he was promoted in May 2016, he has worked at the organization since 1978.
§ Marcelo Noronha
The 52-year-old is an executive who controls the firm`s corporate and investment banking, card operations and BBI. Noronha joined Bradesco in 2003.
§ Josue’ Augusto Pancini
Having joined the bank in 1975, Pancini manages Bradesco`s branch network and high-income segments. The 57-year-old has served as an executive for several years.
§ Domingos Figueiredo Abreu
Abreu has served as Bradesco`s executive, in the treasury and lending department, for multiple years. The 58-year-old started working at the lending company in 1981.
§ Alexandra da Silva Gluher
Gluher, 57, started working at Bradesco in 1976. He is responsible for the company`s risk department. He participated in the acquisition of HSBC Holding retail. The Brazil-based retail unit cost Bradesco $5.2 billion.
§ Mauricio Machado de Minas
Minas is a 58-year-old who was behind the bank`s digital-only spinoff. He joined Bradesco in 2009 from CPM Braxis SA. Minas is the current Chief IT Officer of the company.
About Luiz Carlos Trabuco
Born on 6th October 1951, in Marilia, Trabuco lived a lifestyle of sound leadership.
He graduated from the University of Sao Paulo where he pursued a degree in the faculty of Philosophy, Sciences and Letters.
He acquired his post-graduate degree in Socio-Psychology from Fundacao School of Sociology and Politics of Sao Paulo.
Trabuco joined Bradesco in 1969. He was nominated as director of the company in 1984 before he became the Vice President in 1999.
In 2003, Luiz was elected as Chairman of Bradesco`s Seguros Group. He served at the position until 2009 when he was nominated as the CEO of Bradesco.
Find more about Luiz Carlos Trabuco: http://www.infomoney.com.br/blogs/bolsa/o-investidor-de-sucesso/post/7002925/quem-substituira-trabuco-comando-bradesco-nomes-estao-cotados-tudo-pode