One of the largest banks in Brazil, Bradesco is currently engaged in the process of selecting a new president. The process was not planned and was initiated by the bank’s chairman, Lazaro Brandao’s decision to resign from his post, aged 91.
The vacancy he created was quickly filled with the appointment of Luiz Carlos Trabuco Cappi as the new chairman. However, this, in turn, created a vacancy in the seat that Cappi previously occupied – that of company president. Given the huge size of the bank, the stakes are high in this selection process, and many will be watching keenly to see how it pans.
While the banking industry is waiting with baited breath to see who will become the next president at Bradesco, a decision is not expected until March next year. A board meeting will be scheduled to make the decision, which will then be announced to the shareholders during the annual general meeting. Therefore, for at least a few months, Luiz Carlos Trabuco Cappi will be both the president and chairman at Bradesco. Given his great aptitude for leadership, he will likely approach the next few months as a challenge and go on to excel in both roles.
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No one knows with certainty who will be the next Bradesco president. That said, there are some signs pointing to who the most likely candidates are. In all the previous times that the Bradesco board has had to choose a new president, it has settled on an individual that was at the bank for a long time. Equally, the next appointment is expected to have been working at Bradesco for a long, which considerably narrows down the pool of potential candidates. Among the bank’s current executive vice presidents, there are at least four who have been with the lender for long durations and are seen as having acquired adequate experience for the role of president. These four are Alexandre da Silva Gluher, Josue Augusto Pancini, Mauricio Machado de Minas and Octavio de Lazari.
The latest appointment of Luiz Carlos Trabuco Cappi as the chairman at Bradesco will likely take his stay at the bank to over five decades. This will be a very commendable achievement especially because he joined the bank at the age of 18 with no prior experience in banking or a related academic background. However, he quickly mastered the demands of the banking industry and went on to become a well-rounded banker regardless.
A situation that adequately shows Luiz Carlos Trabuco Cappi’s aptitude and skills as a leader is the purchases of HSBC Brazil by Bradesco in 2015. At the time the British multinational announced that it wanted to sell its Brazilian business unit, the bank was already considered a mid-tier one in Brazil. Consequently, many did not think that Bradesco, a private bank, would be in contention to acquire the bank. However, being the ambitious manager that he is, Luiz Carlos Trabuco Cappi approached the board and sought its blessing to go ahead and negotiate a deal. After receiving permission, he went ahead to broker a multibillion-dollar deal that would see Bradesco take over all of HSBC Brazil’s assets and business. The $5.2 billion deal was a huge risk that fortunately paid off immensely as Bradesco was able to acquire millions of more customers and solidify its position as the second-largest private bank in the country.
Consequently, while Luiz Carlos Trabuco Cappi’s shoes may too hard to fill, if the resilience and ambition of the new president come anywhere close to those of Cappi, the bank will fare quite well.
Learn more about Luiz Carlos Trabuco Cappi: http://economia.estadao.com.br/noticias/geral,trabuco-afirma-que-anuncio-de-substituto-pode-acontecer-antes-do-calendario-de-sucessao,70002039084