Luiz Carlos Trabuco Cappi To Replace Brandao As The Chairman of Bradesco
Luiz Carlos Trabuco Cappi, the current CEO of Bradesco bank, is scheduled to replace Lazaro de Mello Brandao as the bank’s chairman following his announcement to step down from the role he has played for over 25 years. According to the bank, Luiz Carlos Trabuco Cappi will now serve in both capacities until March 2018 when a new CEO will be elected.
Brandao has been listed by Bloomberg to be among the world’s oldest leaders in the banking sector. The 91-year-old banker joined Bradesco at a tender age of 16 and has since gone down in records as one of the two chairmen and four Chief Executive Officers the company has ever had. While confirming his resignation to the journalists, the outgoing chairman explained that stepping aside was his personal decision and that he had seen the need to have the company’s board renewed. He will, however, continue to be in charge of some of the firm’s holdings.
Under his chairmanship, Brandao is applauded for having built a culture of internal promotions as opposed to outsourcing. It is because of this that unidentified reliable sources have hinted out that the position of the CEO shall be filled from among the bank’s top executives. Similar sentiments were also shared by Luiz Carlos Trabuco Cappi in a recent media event.
While commenting on his appointment as Bradesco’s new chairman, Luiz Carlos Trabuco Cappi hinted out to the media that Brandao must have studied him before proposing his name for the vice presidency. He went further and confirmed that his replacement will definitely come from among the executives. The position will be filled during the first collegiate meeting after the general meeting with the company’s shareholders. He added that none of the seven vice presidents has so far been chosen to take over from him. Everyone will have to wait for the outcome of the scheduled election. According to him, own light and leadership are all that is needed for the presidency/CEO position.
Read more: O Bradesco, de Brandão a Trabuco
Luiz Carlos Trabuco Cappi’s Term Extended
Previously, Bradesco had placed the maximum age limit of its CEO at 65. Last year, however, the company amended its bylaws to raise the limit 67, a move that was aimed at extending its current CEO’s term in office. Luiz Carlos Trabuco Cappi attributed the extension to his active involvement in Bradesco’s acquisition of HSBC.
Possible Replacement for Luiz Carlos Trabuco Cappi
As explained earlier, the bank hasn’t made a choice of its new CEO. However, industry experts and media houses continue to give their predictions on the potential candidates for the job. According to O Estado de S. Paulo newspaper, Mauricio Minas tops the list of popular candidates for the vacancy.
Until then, the race for presidency remains between Bradesco’s head of IT department Mauricio Machado de Minas, chief risk officer Alexandre da Silva Gluher, head of lending and treasury Domingo’s Figueiredo Abreu, head of branch network and high-income segment Josue Augusto Pancini, head of investment bank and card operation Marcelo de Araujo Noronha, head of insurance unit Lazaro Octavio, and the head of human resources Andre Rodrigues Cano.
About Luiz Carlos Trabuco Cappi
Luiz Carlos Trabuco Cappi graduated from the University of Sao Paulo’s Department of Philosophy, Sciences, Languages and Arts. He later earned his postgraduate from the institution’s School of Sociology and Politics. He worked with various companies in varying capacities before becoming the CEO of the second largest bank in Brazil in 2009.
Since joining Bradesco in 1969, he has served in different top-level management positions within the company, including as managing director, vice president, and departmental director. Luiz Carlos Trabuco Cappi has also served the president of ANAPP and a board member of the ABRASCA.