Bradesco Spoilt for Choice Regarding the Appointment of a new CEO

Banco Bradesco SA is leading its peers in the Brazilian banking industry regarding low employee turnover; the immediate former chairman, Lazaro de Mello Brandao, who served the bank for over 74 years signifies the bank’s commitment to retain its employees. Brandao, 91, stepped down mid last month citing the need to renew the bank’s board to ensure its continuity as the main reason for his resignation.

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Bradesco announced that Luiz Carlos Trabuco Cappi would be the new chairman. Trabuco, currently the CEO of the bank, will hold both the positions until March next year when his tenure as CEO will come to an end. Bradesco will have appointed a new CEO; heshe will assume office as Luiz Carlos Trabuco Cappi focuses on serving the Osasco based bank as chairman. Trabuco, 66, has worked at Bradesco for over 48 years, confirming the bank’s tendency to retain its employees. Meanwhile, Bradesco is searching for its fifth CEO.

As is the norm at the bank, Bradesco will elect a new CEO from one of its executives. So far, Bradesco has had four CEO, Amado Aguiar, Brandao, Marcio Cypriano, and the outgoing CEO, Luiz Carlos Trabuco Cappi. All of them began their careers at Bradesco; they ascended the corporate ladders until their appointments to the presidency of the bank. Of the four, it is only Cypriano who did not proceed to hold the chairmanship of the bank. After his retirement as CEO in 2009, Cypriano was appointed to the board of directors, but he resigned in less than 12 months.

Presently, Bradesco has over 100 thousand employees, but people knowledgeable on the succession contest believe only seven of them are in the frontline to succeed Luiz Carlos Trabuco Cappi. They include 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. While the seven are holders of crucial departments, they differ in certain aspects including the duration that they have worked at the bank and their ages. The seven have worked at Bradesco for an average of 31 years. Also, the average age of the seven professionals is 56 years. Of the seven, Pancini has served the longest having joined Bradesco in 1975 while de Minas has served the least number of years, eight years. Cano is the oldest, 59, while Noronha is the youngest, 52. There is no doubt that Bradesco is spoilt for choice.

Luiz Cappi and Lazaro Brandao
While there are obvious dissimilarities between the two, they have a lot in common. They both started out their careers at the bank as clerks; Brandao started working at the bank in 1943, and Trabuco joined him 26 years later. As clerks, they had to put in extra efforts for their work to be noticed. The two apparently had a way of appealing to their superiors as Brandao rose through the ranks of Bradesco until his appointment as CEO in 1981. Ten years later, the bank named him the chairman of the bank. Between 1991 and 1999, Brandao was both the chairman of the board of directors and the CEO of Bradesco. Trabuco was appointed the CEO of Banco Bradesco in 2009. Trabuco served as the CEO as Brandao was the chairman until October 11, when Brandao resigned.

However, unlike Brandao, Trabuco completed his fundamental studies. He studied philosophy and later Socio-Psychology at UNESP and the Fundação School of Sociology and Politics respectively. Also, Trabuco, unlike Brandao, is open to the idea of hiring leaders from competing institutions to fill crucial positions at the firm. Nevertheless, the two formed an in a formidable team dedicated to Bradesco. Visit: