Luiz Carlos Trabuco Succeeds Lazaro de Mello at Banco Bradesco
The financial world in Brazil came to a temporary stand-still when one of the most renowned bankers presented his resignation; a man who had been in the industry for more than 70 years had decided to secede power. All eyes were on Banco Bradesco when its chairman Lazaro de Mello Brandao presented his resignation papers to his board.
Resignation of Brandao
Part of Bradesco’s stability over the years has been attributed to consistent leadership with very few changes in administration having only two Presidents, Amador Aguiar, its founder and Lazaro de Mello.By the look of things, however, Mr. Brandao had been planning his step down. Before his resignation, he had altered the rules to allow Luiz Carlos Trabuco Bradesco to resign as CEO at the age of 67 rather than 65. Lazaro de Mello says he did this to ensure a peaceful and stable transition.
Trabuco Bradesco as Chairman and CEO
Luiz Carlos Trabuco is the third man in the history of Bradesco, after Amador and Lazaro, to serve as both CEO and Chairman. As Chairman of the board, he speaks for the Bradesco Foundation which is Bradesco’s controlling shareholder. While his presidency tenure is expected to end soon, he will continue to serve as chairman for the duration he sees fit. Besides, the financial industry looks forward to the appointment of a new president who will most likely be chosen from the crop of vice presidents following Bradesco’s culture of having executives promoted from existing ranks.
Trabuco’s work at Bradesco
Carlos Trabuco Bradesco had a humble beginning as a teller at the Marilia branch of Banco Bradesco, where he was born. Due to his proficiency, he rose to the position of Marketing Director. Here, he stamped his mark by opening up Banco Bradesco to the media and outside world. The firm grew in popularity, and his efforts were recognized leading him to become CEO. 2003 then saw Mr. Trabuco move up to the presidency of Bradesco Seguros which consists of eight other companies.
About Luiz Carlos Trabuco Bradesco
A graduate of University of Sao Paulo, Luiz Carlos Trabuco is a force to reckon with in the banking industry. His studies in Socio-Psychology have contributed greatly to the influential leader he is both within the bank and to the outside world. His selfless dedication to Bradesco saw him deny the opportunity to serve as Minister of Finance in the cabinet of former President Dilma Rousseff.