Banco Bradesco SA’s financial standings are impressive. The Osasco-based Bradesco’s 2016 balance sheet showcased a strong financial institution earning billions in revenues and a net income of $4.6 billion.
In fact, Bradesco is the second most significant private bank in Brazil. However, Bradesco could not be at the helm of the Brazilian financial sector were it not for its employees particularly its leaders. Since Bradesco’s founding, three chairmen and four CEOs have had an opportunity to steer the company.
Amado Aguiar was the first chairman and the first CEO of Bradesco. During his tenure, Bradesco emerged the largest private bank, became the first Latin American company to buy a computer and launch credit card, in addition to buying 17 banks throughout Brazil.
When he took the leadership mantle from Aguiar, Lazaro de Mello Brandao continued Aguiar’s legacy. For instance, he led Bradesco to launch the first Latin American internet banking system according to economia.estadao.com.br. In addition, Brandao was instrumental in shaping Bradesco’s culture; he openly spoke against filling leadership positions in the bank with professionals from outside Bradesco at the expense of deserving Bradesco’s employees. Brandao, 91, resigned in the last quarter of 2017.
With Brandao’s resignation, Bradesco’s leadership changed. The board of directors appointed Luiz Carlos Trabuco to chair the board of directors, at the same time, Bradesco is scouting for a new CEO. The present CEO, Luiz Carlos Trabuco, will retire in March. Luiz Carlos Trabuco has been serving as CEO of Bradesco since 2009.
With a new chairman in office, succession talks are revolving around the appointment of a new chief executive officer. Weighing in on succession politics, Luiz Carlos Trabuco emphasized that Bradesco will appoint its fifth CEO from its talent pool. Bradesco’s employees eligible to succeed Luiz Carlos Trabuco include those currently in charge of departments and subsidiaries. They include
• Mauricio Machado de Minas
• Alexandre da Silva Gluher
• Domingos Figueiredo Abreu
• Josué Augusto Pancini
• Marcelo de Araujo Noronha
• Octavio de Lazari
• André Rodrigues Cano
Luiz Carlos Trabuco
He is the present face of Bradesco, serving as the chairman and the president of Bradesco. Luiz Carlos Trabuco is a well-known figure in Brazil. In fact, he had an offer in 2015, from the then head of state, to head the ministry of finance. Luiz Carlos Trabuco could not leave partly because he was spearheading the purchase of the Brazilian branch of HSBC. However, those who know Luiz Carlos Trabuco believe the executive is firmly in Bradesco and will not be swayed.
Luiz Carlos Trabuco’s career at Bradesco commenced 49 years ago when the bank hired him to discharge clerical duties. Starting at the base of the corporate ladder, Luiz Carlos Trabuco ascended every few years, reaching the helm of Bradesco last year. He is now the chairman and the CEO, although his days as the president of Bradesco are numbered.
Luiz Carlos Trabuco dedicates a significant portion of his time to Bradesco. Even after the official working hours, he spends his evenings in meetings held in the interest of Bradesco. The newly elected chairman symbolizes a revamped Bradesco ready to take on competition from other banks, especially Itaú Unibanco.