Banco Bradesco SA To Select A New CEO From Within Its Pool Of Talent

Banco Bradesco SA is the second largest private financial institution in Brazil, after Itaú Unibanco. Amado Aguiar established the bank in 1943. And while the bank has been in existence for over 74 years, one would expect that several chairpersons and CEOs have been at the helm of the bank. However, Bradesco, which is based in Osasco, has had only four CEOs and three chairmen. Interestingly, three of the four presidents, including the current CEO, Luiz Carlos Trabuco, doubled up as CEO and chairman of the board of directors of Bradesco during their tenure as presidents. Trabuco was confirmed the fourth CEO of Bradesco in 2009 after Cypriano who had served for ten years stepped down. Since then, Trabuco has been the president of Bradesco with Lazaro de Mello Brandao as the chairman of the board of directors. With Brandao’s resignation on October 11, 2017, the bank bestowed on Trabuco a new post: chairman of the board of directors.

However, Trabuco’s tenure as president will elapse in March as he is approaching 67 years and the bank’s by-laws are categorical that officeholders should be 67 years or below. Therefore, Bradesco is scouting for a Trabuco’s replacement. While the bank has the resources to hire any professional it desires in the Brazilian banking sector; it has limited itself to its pool of talent. In a media event covered by Bloomberg, Trabuco stated that Bradesco would respect the bank’s culture of appointing CEOs from within Bradesco’s high ranking executives. Although Trabuco did not mention any names regarding the succession battle, his statement sufficed for analysts to speculate who might take over from him. According to them, the bank will pick either Mauricio Machado de Minas, Alexandre da Silva Gluher, Domingos Figueiredo Abreu, Josué Augusto Pancini, Marcelo de Araujo Noronha, Octavio de Lazari, or André Rodrigues Cano to replace Trabuco.

Read more: Lázaro Brandão será substituído por Trabuco no conselho do Bradesco


Analysts did not arrive at the seven names by chance. They considered crucial dockets at the bank and their leaders, the personal contribution of various members of staff to the success of the bank, age, and the period that high-ranking professionals had been at the bank. Indeed, the seven are in charge of crucial departments. Take Cano for instance, the 59-year-old professional joined Bradesco in 1977, and he is presently in charge of the human resources department according to globo.com. Just like Cano, the other six are also in charge of essential departments such as the IT department, corporate and investment banking, treasury and lending department, etc. Age wise, the seven are in their 50s ensuring that whoever is appointed has ample time to discharge their mandate before he approaches compulsory resignation at 67.

About the incumbent CEO

Luiz Carlos Trabuco currently occupies the most esteemed positions at Bradesco. The positions draw both admiration, respect, and envy in equal measure. Some people who are unaware of Trabuco’s modest start at the bank may be duped into believing that Trabuco joined the bank as a manager or as a mid-level employee. The truth, however, remains that Trabuco was hired in 1969 as a clerk and he has made his way up the corporate ladder through sheer hard work. He is a forward-thinking professional who values quality service delivery through empowerment of Bradesco’s staff. Unibrad Corporate University is Trabuco’ brainchild, and it was recently named the “Best Corporate University in the World.”

Trabuco has been of immense value to Bradesco. Together with Brandao, Trabuco spearheaded the purchase of the Brazilian branch of HSBC for $5.2 billion, a transaction that became known as the most significant acquisition in Brazil in 2015. In fact, Isto É Dinheiro Magazine named him the “Entrepreneur of the Year,” in the finance category in the same year.

Visit http://www1.folha.uol.com.br/mercado/2017/10/1926243-proximo-presidente-do-bradesco-saira-da-diretoria-do-banco-diz-trabuco.shtml for more details about Luiz Carlos Trabuco.