Lazaro Brandao, one of the longest-serving leaders in the Brazilian banking industry recently resigned from his roles as the chairman of Bradesco bank. Bradesco bank was among the first private banks to be established in Brazil focusing on offering banking services to the business community, civil servants, and farmers.
Lazaro Brandao has been sitting at the helm of Bradesco for close to three decades. He took over as the chairman of Bradesco bank in 1991 when the founder, Mr. Amador Aguiar resigned after suffering a long illness. Before taking over from the founder of the bank, Lazaro Brandao previously served as the vice chairman of Bradesco bank. The 91-years-old Lazaro Brandao appointed Luiz Carlos Trabuco Cappi as his successor as chairman.
Creation of a vacancy
The ascension of Luiz Carlos Trabuco Cappi to the position of the chairman of the board at Bradesco bank created a vacancy in the position of the president of the bank. He, however, served the two roles until the bank held the general shareholders meeting in March this year to appoint his successor.
Luiz Carlos Trabuco Cappi held the two positions for one month against the bank’s rules which stipulate that an individual cannot hold the two positions at the same time. The former chairman, Lazaro Brandao changed the rules to allow Luiz Carlos Trabuco Cappi serve as the president of the bank past 65 years.
According to the former chairman, the appointment of the new executives of the bank shouldn’t be rushed. He, therefore, changed the rules to allow Bradesco bank more time to settle on the appropriate candidate according to glamurama.uol.com.br. The extension would also allow Luiz Carlos Trabuco Cappi to finalize the acquisition and integration of HSBC bank into Bradesco bank, a process he initiated in 2015.
The appointment of the new president
Several candidates including seven vice presidents serving in various departments within Bradesco bank expressed their interest to succeed Luiz Carlos Trabucco Cappi. The incoming president would be faced with several challenges including the issue digitizing more than 27 million customers of Bradesco bank. Therefore, the position of the president called for an individual with a wealth of experience in the banking industry.
According to Bradesco’s culture, the bank gives priority to candidates within their pool of employees. Among the interested candidates included seven vice presidents serving in different departments of the bank. They include Mauricio Machado de Minas, Alexandre da Silva Gluher, Domingos Figueiredo, Josue Augusto, Octavio de Lazari, Andre Rodrigues and Marcelo de Araujo.