Brazil’s Bradesco is considered royalty in the country’s financial sector: and with good reason. In addition to serving millions of people in the vast country, the bank has consistently produced some of the most complete banking executives in the country. One such executive is the long-serving chairman, Lazaro Brandao. The seven-decade veteran was until three weeks ago the longest-serving employee of the lender. Owing to old age, however, he decided to call an end to his illustrious banking career by submitting his resignation to the position of chairman.
In his place, the bank decided to appoint another legendary Brazilian executive, Luiz Carlos Trabuco Cappi. The bank’s president for the last nine years was seen as arguably the best fit to take over from Brandao as he has for the last four years served as his deputy on the board. However, Luiz Carlos Trabuco Cappi’s appointment to the role has created an opportunity for the bank to usher another complete leader into the Brazilian financial sector. The new president will become only the bank’s fifth president in its more than seven-decade history. While this certainly seems like an intimidating role to feel, Bradesco has the talent that is more than equal to the task.
Until early next year, Luiz Carlos Trabuco Cappi will continue being the president at Bradesco. His continued stay in the position is due to the fact that a new president cannot be appointed until 30 days before the next annual general meeting, set for March 2018.
Read more on Wikipedia.org
The decision will be made by the board will any biases, except for the fact that the candidate must come from within Bradesco. This fact has significantly narrowed down the pool of potential candidates being speculated by industry observers. Thus far, four of the bank’s current vice presidents are seen as being the strongest candidates (Octavio Lazari, Mauricio Minas, Josue Pancini and Alexander Gluher. Each of these four candidates have a legitimate claim to the position, with very little in terms of performance separating them.
Arguably, the most desired quality of the new president is that he/she is able to lead. While Bradesco has had four highly successful presidents, each of them has had their own unique way of leading. The same is expected of the new leader. He/she must know he wants to accomplish in the position and how he/she will go about attaining it. This is especially important owing to the fact that Bradesco will have to make a raft of pivotal changes if it is going to continue being profitable in Brazil’s challenging economic climate. Many of these decisions will not be easy. For instance, earlier this year, Luiz Carlos Trabuco Cappi had to make the decision to scale back on some of the 5,500 branches has spread out across the country. Bradesco had invested significantly over the years to get such an extensive branch network, but the need to remain profitable required the bank to go against what it had built for so long. In many ways, having to make such decisions is what characterizes a bank president.
It should not also be overlooked that Luiz Carlos Trabuco Cappi has been appointed thenew chairman of Bradesco. The trained sociologist has been with the bank for the last 48 and guided it through some of the toughest economic conditions in the last nine years. His presence on the board will calm the concerns of stakeholders even as the bank goes through an important succession process. He will also be expected to help the incoming president by providing him/her with level-headed advice and guidance.
For more details about Luiz Carlos Trabuco Cappi, just click tostoadv.com