The financial services company, Bradesco has made the news with the announcement of a new president after nearly ten years under the leadership of Luiz Carlos Trabuco. The way the executive team is structured, when there is a change at one position, often times there is a need to makes changes at other positions. Luiz Carlos Trabuco has been with Bradesco for over 40 years now, and was appointed president in 2009.
Throughout Luiz Carlos Trabuco’s career he has gained experience working his way up to the highest position as president. From his initial job with Bradesco as a bank clerk in 1969, Luiz Carlos Trabuco has continued to learn at different levels leading to his time as president. Luiz Carlos Trabuco was also president of Bradesco Seguros, the insurance company of Bradesco. Under Luiz Carlos Trabuco’s leadership, Bradesco Seguros doubled in size, and became the largest insurer in Brazil accounting for 25% of the market share. As the president of the company Luiz Carlos Trabuco, in 2015 was named Entrepreneur of the year by Money. Luiz Carlos Trabuco, with the approval of Lazaro Brandao closed a $5.2 billion deal for HSBC. Now two years later, Luiz Carlos Trabuco is ending his presidency and Lazaro Brandao will be retiring as Chairman of Board of Directors after 27 years on the board and 75 years with the company.
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Luiz Carlos Trabuco and the Bradesco team is faced with pressure from the recent acquisition of HSBC, the retirement of Mr. Brandao and the hard date to make the announcement of the new president to the Central bank before the Ordinary General Assembly (AGO) meeting in March.
Octavio de Lazari Junior has been announced to become the 5th president in Bradesco’s history dating back to 1943. Octavio de Lazari Junior will be officially appointed during the AGO meeting. Octavio de Lazari Junior was vice president as of last year. With Octavio de Lazari Junior becoming the new president Carlos Alberto Rodrigues, who has been with Bradesco now since he was only 13 has been named the new vice president.
Now that Lazaro Brandao will retiring, Luiz Carlos Trabuco will become the new Chairman of the Board, and will be president also until Octavio de Lazari Junior is appointed. Bradesco has traditions in place on how transitions of power are to take place, and Luiz Carlos Trabuco states these traditions are a necessary to maintain the integrity of the company.
Luiz Carlos Trabuco has optimism regarding the future economic situation in Brazil. The recent news about the increase in Brazil’s GDP, Luiz Carlos Trabuco feels is a positive indicator for the future credit market. Lazaro Brandao sees labor reform as the only true solution to improve the current economic challenges faced by the country. Luiz Carlos Trabuco stressed, Bradesco has full confidence in Octavio de Lazari Junior’s capacity in leading the banking conglomerate.
Check more about Luiz Carlos Trabuco: http://economia.estadao.com.br/noticias/geral,bradesco-anuncia-substituto-de-luiz-trabuco-na-presidencia-do-banco,70002178384