Big News For Bradesco And Luiz Carlos Trabuco Cappi
In the second week of October, 2017, Luiz Carlos Trabuco Cappi announced that former Chairman Lazaro de Mello Brandao would be stepping down from his long-held position.
Mr. Lazaro Brandao was the oldest chairman of any banking organization in the world, if not all major business entities across planet Earth, when he decided to step down. And although Mr. Brandao is stepping down from his responsibilities at Bradesco, he will still be Chairman of Fundacao Bradesco and BBD Participacoes, the parent companies that own Banco Bradesco SA.
Luiz Carlos Trabuco Cappi Takes A Backseat To His Former Position Of Chief Executive Officer
Luiz Carlos Trabuco Cappi was promoted to the position of Chief Executive Officer in March, 2009, right after the global financial crisis struck Brazil. He’s done great things while with Bradesco, and has worked across a multitude of positions with the bank since he was hired as a bank teller as a teenager.
Mr. Trabuco will serve as Bradesco’s CEO until March, when a replacement is hired for the position.
Trabuco was most recently the Vice President of Bradesco’s Board of Directors, a position that was immediately replaced by Carlos Alberto Rodrigues Guilherme. Mr. Guilherme was rewarded for loyalty he expressed to Banco Bradesco throughout the years, as he was first hired at the age of 13.
Lazaro de Mello Brandao Had A Great Relationship With Luiz Carlos Trabuco Cappi
Ever since Banco Bradesco was founded in the 1940s, no CEO of the bank could be over 65 years of age. Once the lead executive reached the age of 65, he was always forced to step down. However, due to the close relationship between Lazaro Brandao and Luiz Carlos Trabuco Cappi, then-Chairman Mr. Brandao lobbied for a rule change once Mr. Trabuco had neared the age limit.
Lazaro Brandao was able to lobby for an increase to the age of 67. Late in 2017, when Brandao had stepped down, Luiz Carlos Trabuco Cappi was 66 years of age. Thanks to the camaraderie between the two, Mr. Trabuco was able to extend his career with the bank.
Bradesco’s spot of Chairman currently has no age restrictions, meaning Luiz Carlos Trabuco Cappi can remain in the position until he steps down or is forcefully ousted from the Chairman’s seat – though that’s never happened in the 70-odd-year lifespan of Banco Bradesco.
Picking A Replacement Hasn’t Happened Yet, But Will Come Soon
Luiz Carlos Trabuco Cappi stated that a replacement will be chosen sometime in March, 2018, when Bradesco’s yearly stakeholder meeting rolls around.
There are seven members other than the Chairman in Bradesco’s Board of Directors, from which one will be appointed to CEO. Two members that are most likely to be promoted to CEO are Alexandre da Silva Gluher and Domingos Figueiredo Abreu, both of which played instrumental parts in Bradesco’s acquisition of HSBC Holdings’ retail banking operations in Brazil, a move Luiz Carlos Trabuco Cappi spearheaded in 2014.
What’s Luiz Carlos Trabuco Cappi Doing In The Interim?
For now, Luiz Carlos Trabuco Cappi is both the Chief Executive Officer and the Chairman of Bradesco’s Board of Directors. He will remain in the position until the new CEO is appointed in March of this year.
The Background Of Longtime Employee, Current Executive Luiz Carlos Trabuco Cappi
Luiz Carlos Trabuco Cappi went to the Faculty of Philosophy, Sciences, and Letters of Sao Paulo de Marilia, then to the Foundations School of Sociology and Politics of Sao Paulo. Afterwards, he was hired in his hometown of Marilia as a bank teller when he was 17.
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