2018 will be an exciting year for Banco Bradesco, Brazil’s second largest private bank. The acquisition of HSBC’s Brazilian unit in 2016 was the largest and most aggressive moves in Brazil’s financial services industry. During the acquisition period the banks bylaws were changed to ensure that Luiz Carlos Trabuco the CEO would remain in charge throughout the negotiations. Also, the intended replacement as CEO tragically died in a plane crash. Luiz Carlos Trabuco reached the maximum age for a CEO in 2016 at the age of 65. The maximum age for a CEO was changed to 67, which will be this year for Luiz Carlos Trabuco.
The restructuring of the banks hierarchy will include the promotion of a new CEO and the appointment of a new President of the Board of Directors. Lazaro Bandao announced his retirement as President of the Board of Directors in October of 2017. Luiz Carlos Trabuco replaced the 91 year-old as President and will retire as CEO on March 12th. The new CEO will be chosen according to the banks traditions. The bank always promotes and hires from within the company, usually the President of Bradesco bank’s subsidiary Bradesco Seguros is the one who becomes CEO.
Octavio de Lazari Junior currently holds the position and will most likely become the next CEO according to meioemensagem.com.br. Bandao, Lazari and Luiz Carlos Trabuco have worked together for over 30 years and have been with the bank since they were teenagers. As office boys they ran errands and cleaned the floors, as clerks they reported to their superiors and finally moving up the ranks each one has become a valuable part of the banks culture and heritage.
Luiz Carlos Trabuco started working for Bradesco when he was 18 years old. While working as an office boy he also earned his degree in philosophy, science and letters from the University of Sao Paulo and his masters in socio-psychology from the Foundation School of Sociology and Politics in Sao Paulo. He quickly rose through the ranks and has worked in almost every part of the banks hierarchy. The knowledge and experience he gained by understanding every part of the organization allowed him to become an exceptional leader, financial analyst and mentor.
Under Luiz Carlos Trabuco’s helm the bank saw a 75% increase in accounts and now manages over $390 billion in assets. The bank also manages over 5000 offices in Latin America. His passion for success and his understanding of the financial markets caught the eye of Lazaro Bandao who suggested his promotion to Vice President, CEO and now as his own replacement as President of the Board of Directors. Bandao said, Luiz Carlos Trabuco has his full confidence and the bank is in good hands.
Octavio de Lazari Junior will be announced as the new CEO on March 12th according to valor.com.br. He has over 30 years of experience working for Bradesco bank and will continue in the footsteps of his predecessors. He has always maintained the banks values and traditions while keeping one eye on the future.