Newly Appointed Bradesco Chairman, Luiz Carlos Trabuco Will Oversee the Process of Choosing a New President
Bradesco, one of the largest banks in Brazil, has over the last seven decades maintained a positive growth trajectory. As a result, it has today grown to become one of the largest financial institutions in Latin America and the second largest lender in the country. This positive trend has been influenced by, among other things, the fact that the bank has had very few succession cycles. Understandably, the succession process at any company is typically accompanied by jitters among investors largely due to the uncertainty around the direction to be taken by the new leader. For only the fourth time in its long history, Bradesco is now involved in the process of selecting a new president. Fortunately, however, the current crop of senior leadership at the bank, led by the new chairman and outgoing president, Luiz Carlos Trabuco will ensure that as little uncertainty as possible hits the large lender.
The succession process at Bradesco has been initiated by the unplanned but expected resignation of former chairman, Lazaro Brandao. After 27 years of serving as the chairman of Bradesco, Lazaro Brandao in October 2017 decided to step away from the involving role. Now heading on 92 years, the decision by Brandao was well understood by many at Bradesco and in the banking industry. He can now spend more time with his family that has always been concerned with the considerable amount of time he spent at the bank. It was also befitting that the bank settled on his deputy on the board, Luis Carlos Trabuco to step into his previous position. It has long been speculated that Brandao had been mentoring Trabuco to take over after him. As a result, Luiz Carlos Trabuco is undoubtedly the most prepared employee at Bradesco to assume the role of president. It will also help Trabuco’s confidence a lot as he steps into his new role, knowing that Brandao approves of his appointment.
While the process of selecting a new president at Bradesco has already begun an announcement on who it will be is not expected for the next four months. The announcement is expected to be made during the annual shareholders’ meeting which is next planned for March 2018. Therefore, even while Luiz Carlos Trabuco has already assumed the duties of bank chairman, he will also continue serving as the bank’s president until his replaced is announced in early 2018. Luiz Carlos Trabuco will be encouraged by the fact that he is not the first individual at the bank to hold the two positions at the same time. In fact, Lazaro Brandao successfully held both positions for nine years – that is, from 1990 to 1999.
While the chairman’s position is by far the most powerful Luiz Carlos Trabuco has held at the bank, there is no doubt that he will approach it with the same dedication and work ethic that he has done with every position he has been assigned to thus far. Having spent his entire 48-years professional career at Bradesco, Luiz Carlos Trabuco has served in numerous positions that touch on almost all the facets of banking. That said, whether serving as a clerk or as the president of the bank, he has consistently performed well above his peers. Knowing how important the role of chairman is to the smooth running and growth of the bank, he will no doubt extend the same degree of leadership excellence to his new position. Perhaps it is during his tenure as Bradesco chairman that the bank will finally surpass its largest competitor Itau Unibanco to become the largest private financial institution in the country. Read more:http://www.hoovers.com/company-information/cs/marketing-lists.banco_bradesco_s_a.294a878ad3b224d4.html?oid=2462417000000000&cid=96010000000000