75 years of dedication is impressive, but Bradesco is now gearing up for a change.
Bradesco Bank, one of the oldest banking organizations in Brazil, will see Luiz Carlos Trabuco Cappi as it’s new president after Lazaro de Mello Brandao’s willful leave. 91 years of age, Brandao has been chairman of Bradesco for over 25 years, making him one of the longest employed company heads in the world.
With Luiz Carlos Trabuco Cappi’s promotion, his chief executive position has become a competitive seat of speculation for who in the company will fill in the desired role.
Working Up The Ranks
Brandao began his banking career with Bradesco as a teenager. At age 16, he worked as a banking clerk during the Second World War, gradually building his way through the ranks and becoming just one of four chief executive officers to direct the company. Brandao was CEO of Bradesco for nearly two decades. According to the business media giant Bloomberg, he has continuously worked for the bank longer than most comparable organizations, his humble beginnings starting in the mid 20th century. He also has the honor of being the number one employee at Bradesco’s branch in Osasco.
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Keeping Workers First
Brandao has been preparations for his leave in the last several years. He mentioned his family as those who are looking forward to his reduced role at the bank the most.
Citing a need for a shift in the chain of command as one of the reasons for his departure, Brandao believes that doing so will assure Bradesco’s continuance at the higher echelons of the bank. Even with his leaving, he will continue to run several of Bradesco’s holdings within the organization.
Bradesco has maintained a respected perk for long term workers. While in his position for Bradesco, Brandao led a mission of allowing existing management to develop and increase their leadership roles, focusing on hard-working employees instead of relying solely on outside sources for corporate employment. This rewarding opportunity will surely be a factor in choosing Luiz Carlos Trabuco Cappi‘s replacement in the future.
The Most Likely Candidates
Out of the executives with the highest ranking, seven are among the most likely to take on the duty as bank’s next CEO. This includes André Rodrigues Cano, Mauricio Machado de Minas, Josué Augusto Pancini, and Marcelo de Araujo Noronha, among others. They vary in duties from information technology to treasury and lending.
Similar to Brandao, Luiz Carlos Trabuco Cappi also started with the company quite young. Born in Marilla, he was a bank clerk for Bradesco at age 18 around the same time of attending the University of São Paulo. He previously worked as an executive director prior to his established role as second in charge of the bank. For his numerous roles in the company, he was named on Forbes magazine’s list of the best cheif executives in Brazil. Additionally, he won 2009’s Don Quixote Trophy and Entrepreneur of the Year for Isto E Dinheiro magazine.
Whoever takes the place of Trabuco will have a promising start with the bank. Shares for Bradesco had a year-to-date increase in of 39 percent at the end of 2017. Regardless, it will be a busy year ahead for top leadership with Bradesco, particularly Trabuco’s new responsibilities. He must announce his successor to the public quickly due to the company’s change in bylaws.
Follow Luiz Carlos Trabuco Cappi on LinkedIn