Banco Bradesco SA Gets A New Chairman As It Prepares To Uncover A New CEO

Luiz Carlos Trabuco is the chairman and president of Banco Bradesco SA, the second largest private bank in Brazil. Mr. Trabuco has been the president of the bank for close to eight years. However, he was recently appointed the chairman of the Osasco based bank. The appointment of Mr. Trabuco to the chairmanship of the bank occurred following the resignation of Lazaro de Mello Brandao who had held the chairmanship position for 25 years. Brandao, 91, resigned on October 11, 2017.

Mr. Trabuco was named the president of the board of directors just a few months before he bows out as the CEO of Bradesco. Mr. Trabuco, 66, will turn 67 this year yet the bank’s constitution stipulates that CEOs should not be older than 67. Although Mr. Trabuco will turn 67 in October, he is expected to step down earlier—March—to allow for a smooth handover of office. After stepping down, Mr. Trabuco will serve Bradesco exclusively as the chairman of the board of directors.

Meanwhile, Bradesco is engrossed in finding a professional who will not only match up to Mr. Trabuco but also other CEOs that came before him, Amado Aguiar, Brandao, and Marcio Cypriano. All the mentioned individuals served Bradesco to the satisfaction of all the stakeholders. Because of the present complexity of Bradesco, a new CEO is likely to be a long-serving employee of the bank, someone who understands the culture of Bradesco on In fact, Mr. Trabuco hinted that the bank is not expected to advertise the vacancy beyond Bradesco. With “outsiders” eliminated, a handful of Bradesco’s employees stand a chance to succeed Mr. Trabuco. They include heads of departments, subsidiaries, or other crucial roles. Some of them have already been identified, and they include André Rodrigues Cano, Octavio de Lazari, Marcelo de Araujo Noronha, Josué Augusto Pancini, Domingos Figueiredo Abreu, Alexandre da Silva Gluher, and Mauricio Machado de Minas.

Read more: Trabuco will assume the presidency of Bradesco’s board; bank to appoint new chief executive in March

The professionals on the list of “likely Mr. Trabuco’s successors” have some things in common. Apart from all of them leading their respective professional niches, they have worked at Bradesco for significant periods. Pancini, 57, is the longest-serving of the seven having joined the bank in 1975 while Minas has been at Bradesco for the least time having joined the bank nine years ago. While the ages of the seven may seem insignificant, from previous appointments, Bradesco confirmed that its CEOs must be in their 50s according to Brandao, Cypriano, and Trabuco were elevated to the presidency of Bradesco in their 50s; Brandao was 55, Cypriano 56, and Trabuco 58. Of the seven professionals, Cano is the oldest—59—and Noronha is the youngest—52.

The immediate former chairman and the serving chairman just like the professionals likely to succeed Mr. Trabuco have striking similarities. Although they joined Bradesco at different times, Brandao and Mr. Trabuco commenced their careers as clerks. They then earned promotions up the corporate ladder. Presently, both have held the presidency and the chairmanship posts. However, the two differ in certain aspects. While Brandao advocated for the filling of leadership positions of the bank with Bradesco’s high-performing employees, Mr. Trabuco supported the same while being open to the idea of enriching Bradesco’s talent pool by bringing in leaders from other institutions.

Mr. Trabuco joined Bradesco as a teenager—17 years—and had not gone through any institution of higher learning. However, he remained eager to attend college. While at Bradesco, Mr. Trabuco attended Sao Paulo State University where he pursued philosophy. Still keen to learn, Mr. Trabuco enrolled at the Fundação School of Sociology and Politics where he pursued socio-psychology. Will Mr. Trabuco serve as chairman as long as Brandao did?

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