The largest bank in Brazil, Grupo Bradesco, has recently announced that there will be major changes at the highest echelons of its corporate management structure.
The bank has said that Luiz Carlos Trabuco Cappi, the current CEO, will step down, replacing outgoing chairman Lazaro Brandao as the head of the board of directors. Although this shakeup probably won’t have a great effect on the overall operations of the bank or the direction in which it is headed, many stakeholders have expressed reservations about the move.
But Brandao, who is now approaching 92 years old and is one of the oldest currently serving chairpersons in the world, has stated that the time has finally come for him to permanently retire. The nonagenarian, inveterate banker has spent his entire career with Bradesco. For the last 75 years, he has dedicated his life to the building of the bank, becoming nearly synonymous in the minds of shareholders with the prosperity that the bank has enjoyed over the last 35 years.
Trabuco Cappi is a key player in the bank as well. After having first come to work at Bradesco in 1969, when he was just 18 years old, Trabuco Cappi has had an impressive career, leaving an indelible mark on the bank and proving that he is a capable leader and agile innovator.
One of the main questions that has been left unanswered is the question of who will replace Trabuco Cappi as CEO. The current CEO has until March of 2018 to make the decision on who he will appoint. Trabuco Cappi has stated that the decision is a serious one and that he will take all the time necessary to make it. In the mean time, he will act both as chairman and as CEO, the first time a single person has occupied both positions at the bank since 1999, when Lazaro Brandao stepped down as CEO after having held both offices since 1990.
Read more on valor.com.br
Who will be the next CEO of Bradesco?
The question on everyone’s mind is who the next CEO of Bradesco will be. At first, there were rumors swirling around that Trabuco Cappi was looking to recruit the next CEO from outside the firm. This was given added credence by Trabuco Cappi’s own statements and actions. He has become widely known as an objective, performance-based promoter. And he had even been personally responsible for founding a school of executive management that was specifically designed to increase the pool of managerial prospects within Brazil.
But Trabuco Cappi quickly put these rumors to rest. He came out and explicitly stated that he will not be departing from the traditions of the company and will instead be promoting the next CEO from among the ranks of the currently existing vice presidents of the firm according to camar.sp.gov.br.
This theoretically gives the possibility of seven viable candidates. But those close to the process acknowledge that it is unlikely that Trabuco Cappi would appoint five of those. This leaves just two candidates that have any real chance of acceding to the level of CEO.
The first is Alexandre Gluher. The 58 year old chief risk officer for the bank has been with Bradesco for nearly his entire career. He has been responsible for guiding the firm through the difficult times of the early 2000s and was instrumental in the acquisition of HSBC Brazil.
On the other hand, Mauricio Minas, the 57 year old chief technology officer, has been named by many as being the far-away favorite to be appointed. The tech-savvy executive was personally responsible for the design and implementation of the wildly successful Next online banking platform.
For more information about Luiz Carlos Trabuco Cappi, just click here.