Bradesco is a significant banking institution in Brazil; it is the second largest private bank in the country after Itaú Unibanco. Amador Aguiar (1904 -1991) established in the bank in the ‘40s—1943. The bank has over five thousand branches spread across Brazil with over 100 thousand employees. Over the years, Bradesco has amassed assets to the tune of $413 billion. Last year, the bank’s shareholders enjoyed a share of the $4.6 billion net income owing to the $50 billion revenues that accrued to the bank.
Bradesco is keen about its management. Not only the chairmanship and the presidency but also other leadership positions within the Osasco based bank. So far, Bradesco has had a total of four CEOs: Amado Aguiar, Lazaro de Mello Brandao, Marcio Cypriano, and the outgoing CEO Luiz Carlos Trabuco.
Trabuco, 66, will officially hand over to a new CEO in March next year. Presently, the bank is in search of a new CEO who is as passionate about Bradesco as the previous CEOs. Former leaders especially Brandao held the view that critical leadership positions in the bank could only be filled by one of Bradesco’s employees. The bank’s history reveals that all the former CEOs including the outgoing president started their careers at the bank. Therefore, it is highly likely that whoever will take over from Trabuco is one of Bradesco’s high-performing employees.
An analysis of Bradesco’s employees reveals hundreds of candidates with academic qualifications and work experiences suitable for the high office. However, only seven of them are considered the frontrunners in the contest to replace Trabuco. They are Mauricio Machado de Minas, Alexandre da Silva Gluher, Domingos Figueiredo Abreu, Josué Augusto Pancini, Marcelo de Araujo Noronha, Octavio de Lazari, and André Rodrigues Cano.
Many Bradesco’s employees including the mentioned ones have worked at the company for quite some time. In fact, of the seven individuals, five of them joined the bank in the ‘70s and the ‘80s. Only two of them, di Minas and Noronha, started working at the bank in 2009 and 2003 respectively. Also, the seven are in charge of the bank’s crucial tasks. For example, de Minas is the head of Bradesco’s IT department, and Cano steers the human resources department. Gluher was part of the team that spearheaded the negotiations leading to the purchase of the HSBC Brazil. Brazil’s financial sector is highly expectant of Bradesco’s announcement regarding its choice of CEO.
Lazaro de Mello Brandao
The 91-year-old was Bradesco’s CEO until October 11, 2017. Brandao resigned to allow a new leader, Trabuco, to take over the chairmanship of the board and hence smooth continuity of bank’s management.
At the time of his resignation, Brandao had worked at Bradesco for a whopping 74 years. Some of the years of his career were spent as director, vice president, and eighteen years as president. Brandao was the chairman of Bradesco for over 26 years.
Luiz Carlos Trabuco
He is the new CEO of Bradesco. The appointment is a culmination of his career spanning 48 years at the bank. Some of the titles he has held in the course of his career include marketing director, vice president and president (of Bradesco Previdência and Bradesco Seguros). He became the CEO of Bradesco in 2009.
Trabuco is a high performing employee whose track record speaks to his devotion to seeing Bradesco ahead of its competitors. In 2015, he was the face of the $5.2 billion transaction undertaken by Bradesco to acquire HSBC Brazil. Also, he initiated the establishment of Unibrad Corporate University. His performance prompted President Dilma Rousseff to request him to take over the Ministry of Finance, but Trabuco’s focus is Bradesco. He declined.