Luiz Carlos Trabuco’s Succession Contest Taking Shape But Pundits Remain Open Minded As Bradesco Is Capable Of Pulling Off A Surprise

Banco Bradesco SA, a leading private bank in Brazil and Latin America, is scouting for a new CEO. Although the succession contest has already taken shape with some professionals including
• Mauricio Machado de Minas
• Alexandre da Silva Gluher
• Domingos Figueiredo Abreu
• Josué Augusto Pancini
• Marcelo de Araujo Noronha
• Octavio de Lazari, and
• André Rodrigues Cano
Has seen as the frontrunners in the contest, Bradesco is capable of pulling off a surprise. The appointment of retired chairpersons and CEOs is case in point.

Amado Aguiar, by virtue of being the founder of Bradesco, was the first chairman and president of the bank. After him, the appointment pattern of subsequent chairpersons and CEOs took an interesting turn. When Aguiar announced his interest to step down as president in 1981, succession talks took center stage with the then vice president, Lazaro de Mello Brandao, seen as an undergo unable to succeed Aguiar. However, the board of directors settled on Brandao, neglecting all the other contestants. Apparently, Brandao impressed the board of directors as he was elected ten years later to chair the board of directors after Aguiar passed on.

When Brandao stepped down as CEO in 1999, succession talks, once more put the Osasco-based Bradesco on the map. Among those thought to succeed Brandao is the current chairman of the board of directors and the outgoing president, Luiz Carlos Trabuco. In a surprise move, Bradesco settled on Marcio Cypriano. Pundits speculated that Luiz Carlos Trabuco who was 47 then was “too young,” as per the bank’s standards.

As Marcio Cypriano’s tenure approached the end, Roger Agnelli and José Luiz Acar Pedro were considered the likely candidates to succeed Cypriano. Agnelli was the then Vale president while Pedro presided over Bradesco’s investment bank. Luiz Carlos Trabuco’s name was hardly discussed. However, he triumphed over Pedro, Agnelli, and other candidates. Luiz Carlos Trabuco assumed office in 2009, becoming the fourth CEO of Bradesco.

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Lazaro de Mello Brandao and Luiz Carlos Trabuco
The retired executive, according to Bloomberg, was among the longest-serving bank chairmen. He retired at 91 having served as chairman for over 25 years. According to him, his stepping down was willful, undertaken in the interest of Bradesco. Brandao’s resignation prompted the bank to appoint his successor, Luiz Carlos Trabuco. Brandao believes that Luiz Carlos Trabuco will match up to him as the chairman of the bank.

Luiz Carlos Trabuco’s tenure as chairman just began. As president of Bradesco Seguros and later president of Bradesco, Luiz Carlos Trabuco demonstrated his ability to deliver desirable results. For example, he increased Bradesco Seguro’s revenue contributions to its parent company by five percent. In addition, Bradesco Seguros doubled in size, cementing its market leadership.

As a banking professional, Luiz Carlos Trabuco has won several awards and has been ranked alongside leading industry experts. For example, he was on the list of “Best CEOs in Brazil” in 2016. In 2015, Isto É Dinheiro Magazine named him “Entrepreneur of the Year” in finance category. And in 2009, he won the Don Quixote Trophy.

Search more about Luiz Carlos Trabuco: http://www.valor.com.br/financas/5153264/bradesco-novo-presidente-saira-do-corpo-executivo-afirma-trabuco

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