Lazaro de Mello Brandao: The Immediate Former Chairman of Bradesco

January 24, 2018

While it is normal for freshly graduated job seekers to commence their professional journeys as junior members of staff, few are as visionary to ascend the corporate ladder as Banco Bradesco SA’s immediate former chairman, Lazaro de Mello Brandao. Brandao joined Bradesco in 1943—the same year Amado Aguiar established the bank. When Bradesco hired him, Brandao was a 17-year-old teenager who had not pursued any professional studies. Therefore, Brandao started out his career as a clerk. Starting out as a clerk meant that the there was only one way for Brandao to go, and that is up.

Brandao’s big break occurred in January 1963, when Bradesco appointed him one of the directors at the Osasco-based bank. The promotion preceded appointments as vice president and president in 1977 and 1981 respectively. Brandao became the second president CEO of Bradesco succeeding Aguiar. It was not long before Brandao once more succeeded Aguiar as the second chairman of the board of directors, representing the Bradesco Foundation on the board. Brandao then served as the chairman and the president of Bradesco, resigning as president in 1999. Following his resignation, Marcio Cypriano was named the new president. Meanwhile, Brandao was freed to concentrate on discharging his duties as the president of Bradesco until his recent departure on October 11, 2017.

At the helm of Bradesco, Brandao oversaw the expansion of the bank to its present status. He spearheaded the launch of internet banking, expansion of Bradesco to neighboring countries including Argentina, and the acquisition of numerous smaller banks including the purchase of the Brazilian branch of HSBC in 2013. In addition, Brandao is credited with establishing a culture that favors Bradesco’s staff over those from related organizations whenever leadership positions arise in the bank. In fact, the bank is on record affirming that its new CEO will be appointed from among its pool of high-ranking employees, in light of the impending resignation of its CEO.

Luiz Carlos Trabuco

He is the present chairman and CEO of Bradesco. While he has been part of Bradesco since 1969, Luiz Carlos Trabuco became Bradesco’s president in 2009, and chairman on October 11, 2017. As you may have noticed, Luiz Carlos Trabuco became the chairman of Bradesco the same day—0ctober 11, 2017—Brandao announced his resignation: Bradesco appointed Luiz Carlos Trabuco to succeed Brandao.

However, Luiz Carlos Trabuco’s tenure as president of Bradesco will end in March. Therefore, the bank is prospecting for a new CEO to succeed the outgoing Luiz Carlos Trabuco. In a press conference that marked Brandao’s resignation and the promotion of Luiz Carlos Trabuco, the bank through its CEO appeared to have made up its mind on who will become its fifth CEO. According to Luiz Carlos Trabuco, only high-ranking Bradesco’s employees will be considered for the position. Insiders confided to Bloomberg that Bradesco had even identified likely candidates. They include

  • Mauricio Machado de Minas
  • Alexandre da Silva Gluher
  • Domingos Figueiredo Abreu
  • Josué Augusto Pancini
  • Marcelo de Araujo Noronha
  • Octavio de Lazari
  • André Rodrigues Cano.

As indicated earlier, the seven are high-ranking employees currently holding leadership positions at the bank. For example, Cano is in charge of Bradesco human resources department; Minas is the head of Bradesco’s IT department, and Abreu is the team leader of treasury and lending departments, etc. Noteworthy is the fact all of them the seven have been Bradesco’s employees for significant periods. In fact, apart from Minas and Noronha, the rest joined the Osasco-based Bradesco in either the ‘70s or the ‘80s. In addition, the seven are in their 50s, fitting into Bradesco’s profile of suitable candidates as evidenced by previous appointments.

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