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.
Brazilian premier banker, Banco Bradesco got the change of generation in the leadership in the last few months. In October 2017, it got a new Chairman when the current CEO of the bank, Luiz Carlos Trabuco Cappi was elected as the as the Chairman of the Board.
The rules and procedures of Brazilian banking industry do not allow a single person holding both the leadership posts at a time for more than six months. Therefore, the elevation of Trabuco Cappi also brought the requirement of finding a new CEO for the bank. Since Bradesco traditionally finds the CEO from its employee pool, the industry analysts expected that any of the seven vice presidents of the bank would ultimately replace Trabuco Cappi.
As they expected, Octavio de Lazari Junior, one of the longest-serving executives and vice president of the firm with responsibilities of its insurance wing, chosen as the next CEO of the bank. He will replace Cappi on March 12, 2018, when the Director Board of the bank nods the appointment of the change. Lazari Junior is currently the CEO of the bank’s subsidiary and a prominent insurance firm in Brazil, Bradesco Seguros Group. Though he takes charge of the new post, Lazari will continue to lead the insurance firm as its CEO.
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With the changes in the leadership, Banco Bradesco is getting the next-generation leaders and expected to enter a new era in its growth journey. Lazari Junior, who is aged at 54, entered into the bank at the age of 15 as an office boy – not as a direct employee of the bank but with an agency. In a few years, Lazari rose to become the manager of the agency. Lazari Junior was determined to join the banking industry and became the direct employee of Banco Bradesco in 1998. He started working in the credits department and started handling different sub-units operating under the department.
In 2010, he rose to become the department director of Finances and Loans. In mid-2012, Lazari Junior included in the Executive Board of Bradesco. Finally, in the year 2017, he was elected to the current role: vice president of the bank and Chief Executive of the insurance subsidiary. Interestingly, Trabuco Cappi also started his journey at very young age, just at 18. He became part of Bradesco in 1969 as a probationary clerk. In the next 15 years, Trabuco Cappi took various assignments and rose in the organization to be appointed as a marketing director.
In 1992, he was appointed as the President of Bradesco Vida e Previdência, the subsidiary of the bank that is focusing on private pensions. After six years, Trabuco Cappi became the Managing Director of the bank, and a year later, he again got promoted as the Executive Vice President. Since 2003, he started leading Bradesco Seguros as its President. During his period, the insurance subsidiary ensured doubling its size, and it helped him to become the CEO of the bank in 2009. In 2015, he primarily led the acquisition of HBSB business of Brazil. Trabuco Cappi was elected as one of the best CEOs of Brazil in 2016 by the Forbes magazine.
Search more about Luiz Carlos Trabuco Cappi: https://oglobo.globo.com/economia/bradesco-anuncia-novo-presidente-octavio-de-lazari-junior-vai-substituir-luiz-carlos-trabuco-cappi-22365414#ixzz56wDld69g