Banco Bradesco Has New Board Members And A New CEO So What’s Next For The Bank?

Banco Bradesco may be changing their mission in 2018, according to some of the information coming out of the bank’s headquarters. Lázaro de Mello Brandão the patriarch of the bank is finally calling it quits after a long and successful banking career. Brandão gets a lot of credit for holding the bank together when founder Amador Aguiar passed in 1991. He has a reputation for being a capable as well as an honest banker, gave the bank the credibility to weather some of the political and economic storms that Brazil is famous for.

Brandão is also responsible for hiring Luiz Carlos Trabuco Cappi in 1969 when other bankers thought his resume wasn’t banking material. Mr. Brandão took a chance when Cappi was in the bank’s training program, and that chance is still paying off. Cappi is taking Brandão’s place as the bank’s chairman, and Octavio Lazari, another former bank office boy, will be the new president and CEO.

Cappi is 67 now, so he is too old to be the CEO because of the CEO age cap. But he is just getting started as the Chairman. And if he follows his predecessor, he’ll be making bank decisions for years to come. Trabuco Cappi is not the typical banker who relies on his finance education or his accounting prowess to lead the bank. Cappi has a quick mind, and he knows people, thanks to his degrees in Philosophy and psychology. He finished his degrees in University of Sao Paolo. Luiz and Lazari have a good working relationship, but Cappi has a good working relationship with all the members of his executive team. Lazari is the current executive vice-president of Seguros, the bank’s insurance arm. Cappi held that position from 2003 to 2009. The six other candidates for CEO gave Lazari serious competition, but in the end, Brandão and Cappi thought Lazari’s credentials and work ethic fit the bank’s mission.

Read more: Bradesco: New president to leave executive body, says Trabuco

Mr. Lazari started as an office boy in 1978, after graduating from the College of Economics and Administration of Osasco. He also majored in Financial Strategies and Marketing at Fundação Instituto de Administração. In 1998, Lazari was in the credit department. He was able to become a credit officer responsible for small, and medium-size companies. In 2010, he got the Department Officer title. He was in charge of the loans and financing. In 2012, he was on the board of the Executive Officers, and in 2017, Cappi gave Lazari the Seguros job.

Lazari will officially become the CEO at the March 12, 2018 shareholders meeting. Four of the candidates for the CEO position will be part of the bank’s Board of Directors. Those men are executive vice presidents Domingos Abreu, Alexandre Glüher, Josué Pancini, and Maurício Minas.

Investors expect Lazari and Cappi to stay on course and expand the bank’s digital footprint in Brazil. They also expect the bank stock to be one of best picks in 2018. But there are internal issues to address, according to Cappi. Bradesco has too many bank branches in certain parts of the country, thanks to the 2015 HSBC acquisition. And those branches could be a profit drain in 2018. It gives the bank the position as second largest bank in Brazil.

Source: http://economia.estadao.com.br/blogs/coluna-do-broad/bradesco-deve-anunciar-sucessor-de-trabuco-antes-do-carnaval/