Banks all over the world have the primary responsibility of providing financial services to clients. They play a central role in every country’s economy hence the need to be managed effectively. Bradesco Bank is a financial institution rated second by market value in Brazil. Recently, the bank announced that Luiz Carlos Trabuco Cappi will be taking over as the chairman of the board of directors following Brandao’s resignation.
Brandao initiated the decision to resign on a personal account though he will still be in charge of some of Bradesco’s holding companies. He has reportedly expressed his belief in Luiz Carlos Trabuco Cappi’s ability to drive the company forward. The bank has upheld its long-standing tradition of sourcing from its human resource base whenever senior positions become vacant. Currently serving as the CEO, Luiz Carlos Trabuco Cappi will hold the two executive offices until March 2018 when the new CEO will be elected.
The transition and change in management is a step towards renewing the bank’s board to ensure its continuity. The incoming chairman is a product of Bradesco and so will be the new chief executive officer. This management culture has been lauded to be favorable as internal employees are well versed and cultured in the dealings and ways of the company. The bank recently amended its bylaws to extend the maximum age limit for CEOs from 65 to 67. This was particularly done to enable Luiz Carlos Trabuco Cappi to see through the process of acquiring HSBC and also to provide ample time for leadership transition.
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The decision to promote the current CEO has now shifted all the attention to whoever will take over his position. Since appointment process at Bradesco is systematic, the successor will most likely be picked from among the seven current vice presidents. Luiz Carlos Trabuco Cappi has hinted key qualities required for the job are good leadership and self-motivation.
The seven individuals in line for consideration include; Mauricio Minas, Domingo’s Figueiredo de Abreu, Alexandre da Silva Gluher, Marcelo de Araujo Noronha, André Rodrigues Cano, Josué Augusto and Octavio de Lazari. Each of the candidates heads various departments within the company. They have served Bradesco over a considerable duration and have significantly contributed towards the success of the firm. They will, however, have to wait until March this year to know their fate.
Luiz Carlos Trabuco Cappi
Luiz Carlos Trabuco Cappi was born in Marilia. He attended the University of Sao Paulo and graduated with a BA in Philosophy, Sciences and Letters. He later acquired a postgraduate degree from USP’s School of Sociology and Politics. Trabuco started working at Bradesco Bank in 1969 as a clerk. He has progressed through various ranks to become the company’s chairman of the board of directors.
He was appointed as the development director in 1984 before being promoted to the managing director executive in 1998. He also served as the executive vice president of the company before taking over the presidency from Marcio Cypriane in 2003. Luiz Carlos Trabuco Cappi has marked his days as president of the bank with increased return on equity and acquisition of HSBC, the largest purchase the firm has ever made.
His contribution to the bank’s high performance has played a crucial role in his appointment as Chairman. He is expected to uphold the bank’s vision of being an industry leader in driving economic and social development in the country. Luiz Carlos Trabuco Cappi is a visionary leader and is expected by the market to drive Bradesco to greater heights.