Bradesco’s Board Of Directors Welcome New Chairman Luiz Carlos Trabuco

To say Bradesco is a big bank is an understatement. The Osasco-based Banco Bradesco is one of the top banks in the world in terms of net income and assets under management. Bradesco’s net income in 2016 was $4.6 billion, and the bank currently has $413 billion in assets under management. The success of the 74-year-old bank is well-documented. In 1943, Amador Aguiar wanted to help small farmers, government employees, and retailers get the money they needed to do business, so he founded, Banco Brasileiro de Descontos in Marilia, a small city in the state of Sao Paulo. In 1946, Aguiar moved the bank’s headquarters to the city of Sao Paulo. By 1951, the bank was the largest private banking institution in the country.

Mr. Aguiar moved the bank headquarters once again in 1953 to Osasco which is also in Sao Paulo. Bradesco, under the firm leadership of Aguiar, was the first bank to use a computer and the first bank to offer clients credit cards according to folha.uol.com.br. By the 1970s, Aguiar was buying other banks, and by 1978 the bank had branches all over Brazil. In fact, the 1,000th branch opened that year. Aguilar didn’t give up his quest to make Bradesco the best bank in the world until his death in 1991. That’s the year Lázaro de Mello Brandão took over as Chairman.

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Lázaro de Mello Brandão is Aguiar kind of banker. Brandão was a bank trainee when Bradesco opened its doors in 1943. Mr. Brandão was Aguiar’s protégé. As the bank grew, Brandão got more responsibility. Under Brandão leadership, Bradesco became an international banking giant. But Brandão had help completing that quest. Luiz Carlos Trabuco came on the banking scene in 1969 after studying philosophy at Sao Paulo University and getting a graduate degree in psychology from Fundação Escola de Sociologia e Política de São Paulo. Trabuco, like Brandão, is a company man, so by the time Trabuco became CEO in 2009, the men were a successful banking team and internationally recognized financial experts. The men were able to put an executive team together that had the same drive and ambitions. That team is one of the best banking teams in Brazil.

But all good things come to an end, and Brandão, at 91, is at the end of his banking career. The bank’s Board of Directors gave Trabuco the title of chairman after Brandão’s retirement became front-page financial news around the world. Trabuco will still function as CEO, but he will turn over his CEO duties to one of the men on the bank’s executive team in 2018. Being CEO of Bradesco is a challenge, but the candidates all have the experience and the ambition to do the job. Luiz Carlos Trabuco is only the third man to have the title of “Bradesco Chairman” behind his name, so he is eager to jump into the role with both feet. But in order to do that, the board will have to name a new CEO at the beginning of the new year. Most bank employees have a favorite executive, so there is a lot of closed-door conversations about who will take over as CEO. Most employees like Mauricio Machado de Minas because of his IT background. But there is a lot of support for Octavio de Lazari. Octavio de Lazari is the man who replaced Trabuco as president of the insurance division.

The five other candidates are Andre Cano, Domingos Figueiredo Abreu, Josué Augusto Pancini, Alexandre da Silva Glüher and Marcelo Noronha. All five men hold top executive posts and all of them have what it takes to be CEO, according to Trabuco and the board.

Search more about Luiz Carlos Trabuco: http://www1.folha.uol.com.br/mercado/2017/10/1926427-sucessao-no-bradesco-vira-alvo-de-aposta.shtml