One of the world’s oldest bank chairmen to serve on the board is 91 years old, but his recent retirement announcement has left one of the biggest banks in Brazil at an impasse. When Lazaro de Mello Brandao steps down from his position after 25 years, he will be leaving a position wide open. This chairman position will be temporarily filled by Luiz Carlos Trabuco Cappi, who is currently the CEO for the bank.
Brandao started his banking career in 1943. He was just 16 years old, and he worked his way to the top to become one of the two chairmen at Bradesco bank. He held this title from the year of 1981 until 1999. To this day, he is still known one of the oldest banking leaders in the world.
As Bradesco prepares to find a new CEO to take the place of Luiz Carlos Trabuco Cappi, who is filling the chairman position, they will be doing something that not many businesses or companies chose to do. Bradesco will be choosing a new CEO from their talent pool.
Since the bank’s shares fell at least 1.2-percent, they have had to change a few things in the company to help bring the company back into the top percentages. The changing of their bylaws was one of the biggest changes made to date. They decided to increase the maximum CEO age from 65 to the age of 67, which gives the current CEO a chance to name his new successor.
Read more: O Bradesco, de Brandão a Trabuco
When the bylaws were first changed, Brandao said that he didn’t regret any of his time at the bank. His family was supportive of his decision to leave the bank, saying that it was the time he made a change in his life. However, while Brandao leaves, a new CEO needs to come into place. Bradesco Bank has decided to choose from their current pool of employees to replace the current CEO and fill the needed position. They have several candidates that are perfect for the position, and they will most likely choose the best and most qualified candidate for the position.
Luiz Carlos Trabuco Cappi, the current CEO who is taking the chairman position at Bradesco Bank, is the fourth man to hold the presidency position at the bank. He has been in a position of power for quite a while, but he has helped Bradesco Bank reach goals and dreams. He is highly educated, which makes him perfect for his position at the bank. His career started at the age of 18 when he began working at the bank. He was appointed as a department director in 1984, and by the next year, he rose to an executive vice president position at the bank.
Trabuco took over a management position in 2003, which only heightened his chances to take over the president position when Brandao left the office. His management experience and years of working at the bank were perfect for making him the most eligible person for the job. It is no wonder that Bradesco chose him to fill in the president position. Trabuco is preparing to find a successor for his CEO position, and his idea to choose from their current employee list is a great way to change the cultural, company norm. Their move will only prove to be a smart one by the company by hiring from within, saving the company money and hiring those with the necessary experience and passion to keep the bank going.
Bradesco Bank is known as one of the largest banks in Brazil, and their bank is known for its work and service by many people throughout the world.