The Bradesco brand is one of the most recognizable in Brazil. The bank’s current president, Luiz Carlos Trabuco is often seen in the press commenting on matters relating to the state of the Brazilian economy. His opinion is equally highly regarded by leading political thinkers.
As such, it is evident that the bank’s high standing regard among the Brazilian public is largely as a result of the leadership it has had over the last few decades. That is why it is important that the bank conducts the process of selecting a new president competently and effectively. The position will no longer be held by Luiz Carlos Trabuco in the coming months as he has been appointed to the position of board chairman.
The position of board chairman was previously held by Lazaro Brandao. Mr. Brandao recently stepped down from the position due to old age. He had been with the bank for more than seven decades and even previously served as its president. In a move that perhaps foreshadowed his resignation this year, Mr. Brandao in 2014 nominated Luiz Carlos Trabuco to become the vice chairman of the board. The three years that Mr. Trabuco has since served on the board in have ably prepared him to guide the bank as its chairman for years to come.
The incoming president will be the fifth in Bradesco’s history. The previous four were Amador Aguiar (the founder of the bank), Lazaro Brandao, Marcio Cypriano and Luiz Carlos Trabuco according to valor.com.br. Each of these presidents was one of the leading banking executives during his tenure and are considered legends at the bank. The bank, therefore, is looking to add another legendary name through the current succession process. As with all other appointments of this nature, the board will appoint a president from among the senior executives currently at the ban. Therefore, one of the bank’s current vice presidents will be given the nod. The decision, however, is not expected until early next year. In the meantime, therefore, the chairman Luiz Carlos Trabuco will continue being the bank’s able president.
The incoming president will find in place great foundational work done by Luiz Carlos Trabuco. Through a combination of smart acquisitions and organic growth, Mr. Trabuco has been able to significantly improve Bradesco position over the course of the last eight years. One particular move during his tenure that has particularly proved to be crucial is the acquisition of Bradesco for over $5 billion. The acquisition allowed Bradesco to significantly expand its branch network and customer base in a single sweep. With the Brazilian economy being expected to improve considerably in the coming months, the incoming president will no doubt have numerous opportunities to similar shrewd moves with an aim to grow Bradesco.
Luiz Carlos Trabuco’s journey thus far has been nothing short of inspirational. The man who joined the bank as a clerk 48 years ago is now the chairman of its board of directors. It has taken great dedication, brilliance, and loyalty for Luiz Carlos Trabuco to get to where he is today. He has been appointed to numerous positions while at the bank that have led him to work in most areas of its operations. As a result, none of the current employees at Bradesco know the bank better than he does. Along the path, he had numerous offers and opportunities away from Bradesco, including being offered the position of Brazilian finance minister, but he never once considered walking away from the financial institution. This appointment to the position of chairman shows that the Bradesco equally loves and is loyal to Luiz Carlos Trabuco.