Lazaro Brandao, longtime President, Chief Executive Officer, and employee of Banco Bradesco, stepped down from his then-current post of President in the month of October, 2017, just a few weeks ago.
Upon the date Mr. Lazaro de Mello Brandao resigned from his position, he was 91 years of age, making him the oldest such executive of any major financial institution in the world. Most people don’t make it to 91, let alone work and make sound, industry-competitive decisions, something he’s done throughout the entirety of his financial career.
Brandao appointed Luiz Carlos Trabuco Cappi as President, who was most recently the Chief Executive Officer for Bradesco since 2009. The pair has worked closely alongside each other in recent years, ever since Trabuco became a member of the ring of executives atop Banco Bradesco.
This comes as good news for Mr. Trabuco, as just earlier this year, he was facing job loss on the immediate horizon. People over the age of 65 aren’t allowed to be in any executory roles at Banco Bradesco. However, thanks to Lazaro Brandao, he decided to extend the highest possible age of any current executive to 67, effectively granting Mr. Trabuco two more years as CEO. However, because Lazaro Brandao has now stepped down, Luiz Carlos Trabuco Cappi will remain as President for many years to come.
Both Brandao and Trabuco had started working for the organization at a young age. While Brandao had begun his career with the financial institution as a teenager in 1943, the same year that Amador Aguiar founded Banco Bradesco in Marilia – it’s notable that Marilia would even become the birthplace of to-be President, CEO, and general employee for the company Luiz Carlos Trabuco Cappi.
Lazaro de Mello Brandao had previously worked as the bank’s second CEO, from 1981 to 1999, and its second President, as well, from 1999 through this year.
Prior to stepping down, Mr. Brandao shared that the board of directors at Bradesco would be renewed sometime in the near future, as doing so can help extend the life of financial institutions.
Ever since Lazaro Brandao has initially moved into an executory role in the 1980s, he wanted executives to be promoted from within the bank, rather than looking to other organizations or people not working at Bradesco to earn the job.
An unnamed source that works at Banco Bradesco said that seven of the highest-ranking executives at Bradesco will be considered for the upcoming opening of Chief Executive Officer. In the meantime, another leading executive that’s worked at Bradesco for several years is set to take over Mr. Trabuco’s old spot, and will remain in the capacity until Luiz Carlos Trabuco Cappi officially becomes President sometime in March, when the new CEO will be selected.
The bank is waiting until March to evaluate past performances and the potential of the seven highest-ranking executives, as it only wants to complete the hiring process before the annual shareholder meeting commences in March of next year.
Luiz Carlos Trabuco Cappi went to the University of Sao Paulo and the Foundation School of Sociology and Politics of Sao Paulo, both located several hours from his home in Marilia, to boost his chances of doing well in his professional life. Although he didn’t study in a business-related field like accounting or finance, as he majored in philosophy and sociopsychology, respectively, Mr. Trabuco was still able to rise the ranks of Bradesco’s ladder.
Search more about Luiz Carlos Trabuco Cappi: https://br.reuters.com/article/topNews/idBRKBN1CF35D-OBRTP