Brazil’s second-largest bank, Banco Bradesco SA, is in the midst of a massive transition as longtime chairman Lazaro de Mello Brandao, 91, announced his retirement from the position in October. The move paved the way for Luiz Carlos Trabuco Cappi to take over as president of the bank, a position he will hold until March 2018, the date set by the board for when the next CEO elections will take place.
Speaking to journalists about his decision to step down, Brandao said his retirement is set to “ensure its (Banco Bradesco) continuity,” then adding that the decision was entirely his. Regardless, the executive, will remain in charge of some of the bank’s holding companies.
Bradesco will name its new CEO next year in March, although in a conference, Luiz Carlos Trabuco Cappi said that the elections could happen earlier. He emphasized that the succession was a process and assured journalists that a replacement for Brandao hadn’t been chosen yet.
Who is Luiz Cappi?
Born Oct. 6, 1951 in Marilia, Sao Paulo, Mr. Luiz Cappi serves as the president of Banco Bradesco, a position he held since March 10, 2009. Before becoming one of the top executives in Brazil, his career started at Bradesco as a clerk at the young age of 17.
For a span of 15 years since his employment, he was assigned different positions until becoming a marketing director for the bank. It was during this time that Bradesco developed a more open relationship with the media, due to Trabuco Cappi’s modernized approach.
From 1992 to 1998, Trabuco Cappi served as the CEO of Bradesco Vida e Previdência, a privately-owned company that catered to pensioners. He proceeded to become the Managing Director of Bradesco, and in 1999, he assumed the position of Executive Vice President.
Having held several positions in a period of 40 years, he was finally appointed President of the Bank, becoming the fourth president since the death of Amador Aguiar in 1991, the bank’s founder.
Perhaps the highlight of his career was the acquisition of HSBC in Brazil in 2015, the country’s biggest year in business and the bank’s largest acquisition so far. This was the reason why he was awarded Entrepreneur of the Year in the finance category, by Isto É Dinheiro Magazine.
In October 2017 upon the retirement of Lazaro de Mello Brandao, Trabuco Cappi had become appointed Bradesco’s Chairman of the Board of Directors, making him the current President of the Bank.
The executive’s skills was honed at the Faculdade de Filosofia, Ciências e Letras de São Paulo de Marília, now called UNESP. He also has a postgraduate degree in Socio-Psychology at the Fundação Escola de Sociologia e Política de São Paulo.
The Future of Bradesco: Possible Candidates for Bradesco’s New CEO
As one of the biggest banks in Brazil, the question as to who will fill in the position as Bradesco’s CEO has boggled many, as Trabuco Cappi will be only taking charge until early next year. However, several names have already popped as potential CEO, one of them being Mauricio Minas, the bank’s current VP of Technology. Minas also worked with Trabuco Cappi on the acquisition of HSBC.
Other names in consideration are from the bank’s own — Bradesco’s other six vice presidents from their respective departments. They are:
Octavio de Lazari, in charge of the lender’s insurance unit, and has been with Bradesco since 1978.
Josué Augusto Pancini, responsible for the bank’s service network, and has been with Bradesco since 1975.
André Rodrigues Cano, head of Human Resources and one of the few who has attained a position in the higher management. He was first employed with the bank in 1977.
Marcelo de Araujo Noronha only joined the bank in 2003, and currently manages Bradesco’s investment and corporate banking.
Alexandre da Silva Gluher is the most experienced of the VPs so far, playing an essential role in the multi-billion acquisition of HSBC. He is Bradesco’s chief risk officer.
Domingos Figueiredo Abreu started working for Bradesco in 1981 and is currently VP for Treasury and Lending.
There are seven candidates running for CEO overall, including Minas, and predicting who will assume Trabuco Cappi’s current role continues to be difficult. However, should we rely on several reports and the word of analyst themselves, Trabuco Cappi will have a strong influence in choosing who Bradesco’s new CEO will be.