Banco Bradesco SA has a new chairman: Luiz Carlos Trabuco Cappi. The name is not new to Bradesco, Brazil’s financial sector, or even the whole of Brazil. He is the man that the former President Dilma Rousseff thought (in the first quarter of 2015) that he was best suited to manage the country’s Ministry of Finance. Because of his history with Bradesco that dates back to 1969, Luiz Carlos Trabuco Cappi declined the president’s offer.
When Luiz Carlos Trabuco Cappi received the request from the president, he was the CEO of Bradesco; a position he had held beginning in 2009. Also, 2015 was the year that he announced that Bradesco would purchase the Brazilian branch of HSBC Holdings Plc. for $5.2 billion.
Luiz Carlos Trabuco Cappi is taking over from the 91-year-old Lazaro de Mello Brandao. Brandao was the second chairman of the 74-year-old bank. The outgoing chairman replaced Amador Aguiar, the founder of the bank, in 1990. He was the chairman of Bradesco until October 11, 2017. He resigned having held the position for 25 years.
When Brandao replaced Aguiar as the chairman of Bradesco, he was already the president of the conglomerate. He assumed the presidency of Bradesco in 1981 and retired in 1999 allowing Márcio Cypriano to take over as the president of the bank. However, Brandao continued serving as the chairman.
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Brandao and Luiz Carlos Trabuco Cappi share some similarities. For example, both executives started working at Bradesco as clerk. They joined the company as teenagers, Brandao was only 16 when he became part of the Osasco headquartered bank in 1943; Luiz Carlos Trabuco Cappi was 18-years-old when he started working at the group in 1969. The two have stuck with the company through thick and thin rising through several ranks of the company to become CEOs before eventually taking the chairmanship of the company.
However, the two held different views regarding how vacant leadership positions (such as those of heads of departments) should be filled in the bank. While Brandao thought it was wise to leave such positions to be filled exclusively by deserving Bradesco’s staff, Luiz Carlos Trabuco Cappi advocated for the same, but he remained open-minded. According to Luiz Carlos Trabuco Cappi, it is imperative to motivate the employees by promoting them, but in case there is lack of talent in the company, bringing experienced employees from competing firms or related companies would not harm the company. In fact, Bradesco would benefit from the new talent (s) regarding management, ideas, expertise, etc.
Luiz Carlos Trabuco Cappi who is currently 66-years-old will remain as the CEO of the bank until next year. His term will officially end when he turns 67 as the bank’s bylaws prohibit CEOs from exercising the powers of the office when they are past 67 years.
What’s next for Bradesco? The bank is currently looking for Luiz Carlos Trabuco Cappi’s replacement. There are seven professionals in prospect; Mauricio Machado de Minas, Alexandre da Silva Gluher, Domingos Figueiredo Abreu, Josué Augusto Pancini, Marcelo de Araujo Noronha, Octavio de Lazari, and André Rodrigues Cano.
It seems that the succession will be done as per Brandao’s wishes as the seven professionals under consideration are already part of Bradesco. In fact, most of them have worked and rose through the ranks just like Brandao and Luiz Carlos Trabuco Cappi. Although all of them are highly qualified, there can only be one CEO at the time. Brandao was appointed CEO of Bradesco when he was 55-years-old, Luiz Carlos Trabuco Cappi was 57. All the seven potential CEOs are in their 50’s. Apparently, to be Bradesco’s CEO, you must be 50 years and above.
For more information about Luiz Carlos Trabucco Cappi: https://g1.globo.com/economia/negocios/noticia/lazaro-brandao-renuncia-ao-conselho-de-administracao-do-bradesco.ghtml