Having served Banco Bradesco SA for over 74 years, Lazaro de Mello Brandao was perhaps the longest serving employee of the financial institution prior to his resignation mid last month. The bank hired him in 1943, and he was only 16 then. The young Brandao had not even completed his fundamental studies. Not many positions were available at the bank for the young job seeker, and when the bank offered to hire him as a clerk, Brandao was delighted. He knew one thing: he would not remain a clerk for the rest of his life.
It took 20 years for the bank to offer him a significant promotion; Brandao was elected a director in 1963. Fourteen years later, Brandao was elected vice president of the Osasco headquartered bank. In 1981, Bradesco appointed him the overall CEO of the bank. His name went down in history books as the second CEO of the bank after Amado Aguiar, the founder of Bradesco. He was the CEO of the bank with Aguiar as the chairman of the board of directors until 1991 when Aguiar’s health deteriorated promoting the bank’s management to appoint Brandao the second chairman. Between 1991 and 1999, Brandao was not only the CEO of the bank but also the chairman. Marcio Cypriano succeeded him as CEO in 1999, but he steadfastly held on to the chairmanship roles until his resignation last month.
At the time of Brandao’s resignation, Luiz Carlos Trabuco was the CEO of Bradesco; a position he has held since 2009. It came as no surprise when the bank named Trabuco Brandao’s successor as many expected the same. Trabuco may not double up as CEO and chairman of the bank for long like his predecessors, Aguiar and Brandao, as his term as the president of the bank will come to an end in March next year, as per the new bylaws of the bank. Cognizant of the fact that presidency post will be vacant soon, Bradesco is searching for a new CEO to lead the bank starting in March.
Read more: O Bradesco, de Brandão a Trabuco
According to folha.uol.com.br Bradesco’s search for a new CEO is unlikely to be cumbersome has the bank has been categorical that it will consider only its high ranking executives for the job. Some of the executives likely to be considered 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
Having served at the bank for a considerable period, the seven understand Bradesco’s culture and the bank will not spend resources in training or inducting anyone of them chosen.
About the new Chairman
Luiz Carlos Trabuco has been an employee of the bank since 1969. Just like Brandao, Bradesco hired Trabuco to discharge administrative roles. And just like Brandao, he got a significant promotion after 15 years at the bank; Bradesco appointed him the marketing director. The position became a stepping stone for Trabuco who leveraged it to earn higher appointments at the bank.
In 2003, he became the president of Bradesco Seguros, an insurance subsidiary of the bank. Six years later, the bank named him the overall president replacing Marcio Cypriano. Trabuco assumed the presidency of the bank when the global economy was turbulent and whose effects would trickle down to Brazil and eventually to Bradesco. Also, the board of directors was reeling from the impact of Banco Itaú and Unibanco’s merger that pushed Bradesco to the second place in the list of leading private banks. However, Trabuco instituted measures that would see the bank regain its position but most importantly lead to better service delivery.