Banco Bradesco has a long and storied past. The multi-billion dollar financial organization was founded close to 75 years ago by Amador Aguiar. By 1951 it had already grown to become the largest private bank in the country. It was also one of the leading institutions in the industry to integrate computers and other forms of digital technology into its business operations. Today, the bank has tens of millions of customers and has a branch network coverage that runs well over 5000. The bank’s continued prosperity has been attributed by many industry observers to its strong leadership culture. With recent changes at the bank now creating the need to appoint a new president, this leadership culture will again be tested for effectiveness.
Lazaro Brandao’s Resignation
Up until two months ago, Lazaro Brandao was Banco Bradesco’s most experienced employee. This state of affairs, however, all changed when he decided to cut short his time at the bank by resigning from the position of board chairman. He had held the position for 27 years and had ably guided the bank even while approaching his 90s. The experienced banker will now enjoy some much-deserved rest having worked at Banco Bradesco for the entirety of his adulthood. He joined the bank in the same year it was founded and never once left until his resignation in late 2017. In those seven-decades of service to Banco Bradesco, he worked in a wide number of positions including concurrently holding the positions of chairman and president for nine years. As he leaves the bank, he will take comfort in the fact that he has left the bank in very able hands.
Luiz Carlos Trabuco’s Appointment
When making it known to the public that Brandao had decided to resign from his post, Banco Bradesco also announced that his vacant position would immediately be assumed by Luiz Carlos Trabuco. The decision to appoint Luiz Carlos Trabuco as the board chair was seen as the right move by many industry observers as he is by far the most experienced employee remaining at the bank. Like his predecessor Brandao, Luiz Carlos Trabuco joined Banco Bradesco while he was still a teenager. Equally, from the day he was employed by the bank in 1969, Trabuco has not once left the bank. He has slowly but surely gone up the hierarchical ladder at the bank over the last 49 years. His most recent position was that of the bank president, which required him to work quite closely with Brandao for the last nine years.
While Luiz Carlos Trabuco has already assumed the responsibilities of chairman, he is not expected to his previous position of president for at least a few more weeks. Restrictions put in place by the bank’s bylaws demand that the next president will only take office after being presented to the shareholders at a meeting planned for March this year. That said, Luiz Carlos Trabuco has in the past shown that he is quite capable of successfully delivering in an environment of pressure.
The Incoming President
Thus far there has not been any concrete information coming from Banco Bradesco with regards to who the next president will be. Luiz Carlos Trabuco did, however, intimate that the appointment will definitely come from within the bank. Since this appointment strategy has been part of the bank’s famed culture for years, it did not catch many observers by surprise but helped reduce the speculated pool of candidates. The next senior-most position of leadership after president at Banco Bradesco is that of vice president. The bank currently has seven vice presidents, one of whom will be announced as president come March.