Car in Pieces

Bradesco’s Patriarch, Lázaro de Mello Brandão Is Retiring And Luiz Carlos Trabuco Is Taking His Place

Lázaro de Mello Brandão is a banking legend in Brazil. The 91-year-old chairman of the board is the longest running chairman in Brazil’s banking history. Mr. Brandão is a banker’s, banker. Bradesco has been his home for more than 70 years. The personable banker grew up in the banking industry, and Bradesco grew with him. Brandão is also the man who saw something special in CEO Luiz Carlos Trabuco when other bankers had doubts about him.

Trabuco did not study accounting, and he didn’t take a lot of financial courses while he was studying philosophy at the University of Sao Paulo. Brandão saw other qualities in Trabuco and as the months turned into years, Mr. Brandão gave Trabuco a chance to prove himself. Luiz didn’t waste any time proving he is a born leader. Trabuco started his banking career with Bradesco, and he is finally enjoying the recognition and the challenges that go with being the CEO of the bank.

Now that Brandão is hanging up his banking shoes, Trabuco will assume his responsibilities as Chairman of the Board. Mr. Trabuco will also continue as CEO until a new CEO takes his place in 2018. The 66-year-old Trabuco has a list of candidates, and they all work for the bank. Bradesco likes to foster employee continuity, and by picking a new CEO from a list of seven Vice-Presidents, the bank will continue to promote from within. The seven bankers who have a shot at the CEO position are up to speed when it comes to the bank’s expansion plans as well as the plans to be the best online bank in the country. Bradesco has 60 websites, and the 26 million Bradesco clients use those sites every day to do their banking. All seven candidates have a proven track record with the bank so it’s not an easy decision and Mr. Trabuco knows that. But making hard choices is a Trabuco attribute. He is a no-nonsense executive, and his team members follow his lead in that regard.


The seven CEO candidates come from different divisions within the bank. For example, Alexandre da Silva Glüher is the chief risk manager, and the brains behind the HSBC acquisition in 2015. Fifty-eight-year-old Mauricio Machado de Minas is responsible for creating the digital-only bank spinoff, Next, and he is also the head of the Bradesco’s IT department. Domingos Figueiredo Abreu is the bank’s chief lending officer, and Josué Augusto Pancini is in charge of the bank’s 5,000 branches.

The other three candidates are Octavio de Lazari, Andre Cano, and Marcelo Noronha. Noronha heads the BBI investment sector, and Octavio de Lazari is the president of Banco Seguros. Banco Seguros is the insurance sector of the bank. Trabuco was president of that division from 2003 to 2008. Andre Cano is the human resource manager. All seven candidates bring experience and loyalty to the race for CEO, but no one is betting on a winner at this point. Most of the candidates are 20-year Bradesco employees, so they know what the bank’s board expects in terms of operational and administrative decisions and duties. Even though no one is betting on a candidate, the top contender for the job may be Marcelo Noronha, according to some bank employees.

Luiz Carlos Trabuco will continue to make a difference as the new Chairman of the Board. Wall Street investors are depending on Trabuco, and he won’t disappoint them. Luiz Carlos Trabuco is on a mission to be the number one bank in Brazil and he plans to be around long enough to make that happen.

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