Bradesco Seguros Group: Announcing Luiz Carlos Trabuco Replacement

In Sao Paulo, Bradesco bank made an announcement that there will be a replacement of its president Luiz Carlos Trabuco. During the announcement, they said that current president Luiz Carlos Trabuco will still be the acting Board president and he will carry his term until when there will be the Board first meeting which was to be held during the next Ordinary General Meeting. So Luiz Carlos Trabuco was still the executive board president during the meeting.

The statement that came from Bradesco said that appointing Octavio was something that was backed by a formal process which is used for getting a successor. But the people who were accompanying the case didn’t consider Octavio as the favorite man to replace Bradesco president Luiz Carlos Trabuco. They had been selected seven people who were to be disputed. Most of the analyst had done bets siding with Mauricio Minas who was the man responsible for the bank’s technology department.

The bank also had to affirm that Octavio’s personal merits have been recognized like his competing colleagues. Having the chance to lead the organization, he will have to maintain the bank’s continuity and renewal processes which are the key fundamental so that the bank can maintain its prominent position which is holding in international and national financial cases.

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He was made the executive vice president at Bradesco Seguros Group and also the banks CEO and will continue performing at his 54 years of age. Having graduated with Economic Science from Osasco after attending Economic and Administrative Sciences Faculty. He later specialized in Marketing skill and Financial strategies where he was pursuing the course ate FIA. He has also participated in Advanced Management Program which was educated by IES Business School which was from Navara University.

Lazari Octavio had started his career in early 1978 which was a branch that was owned by Bradesco working as a continuum where he was an agency manager. He started working with credit department in 1998 after he was made the director and he was responding to the corporate. He was then in 2010 promoted to departments director’s position. He was now the responsible person for loans and finances in the department. It was in the year 2002 when the bank made Lazari become the member of the Executive Officer of the Board and five years later he was made the Vice-president of Bradesco Seguros Group.

In his career, Lazari once acted as the Chairman of the Board of Directors In Brazil Association which was dealing with Real Estate Credit together with the saving entities. In addition, he was the vice president of the Febraban’s creditor operations which was a portability governance and also other positions in the sector.

When Luiz was managing Bradesco Seguros Group as CEO, he had brought great achievement to the bank. The bank assets had increased twice in just six months of his service. In 2003, it had R $32 billion assets and during the fiscal year of 2008 the assets were ranging R $ 78 billion which was double from 2003. the banks equity also raised in one year after Luiz Carlos Trabuco started working as the bank’s president.

Learn more about Luiz Carlos Trabuco: https://oglobo.globo.com/economia/bradesco-anuncia-novo-presidente-octavio-de-lazari-junior-vai-substituir-luiz-carlos-trabuco-cappi-22365414#ixzz56wDld69g

Bradesco To Prioritize Its Staff In Appointing A New CEO

Banco Bradesco is prospecting for a new chief executive officer (CEO) to take over from Luiz Carlos Trabuco. The vacancy for a new executive arose following the resignation of the 91-year-old Lazaro de Mello Brandao; he was the chairman of the bank for over 25 years, and he resigned on October 11.

His stepping down prompted the Osasco headquartered bank to promote Luiz Carlos Trabuco as the new chairman. Meanwhile, Trabuco will double up as the chairman of the board of directors of Bradesco as well as the CEO of the company until March next year when he will hand over to a new CEO.

Although Bradesco is secretive regarding the process of selecting a new CEO, sources familiar with the goings-on at the bank allude that the following seven professionals are among the top contenders for the presidency: 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. They are high-ranking Bradesco’s employees in charge of various departments. Apparently, Bradesco will respect Brandao’s call to promote high performing Bradesco’s staff to leadership positions within the bank.

A closer look at the seven executives reveals that they share some similarities. For instance, they have worked at the bank for a considerable period. In fact, the average period that the seven have been at the bank is 31 years. Most of them joined the bank either as junior or mid-level employees, but all of them are presently in charge of central departments of the bank. What’s more, they are age mates; the average age of the seven is 56 years.

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Who is Luiz Carlos Trabuco?

The current chairman of the bank and the outgoing CEO is a respectable executive in Brazil’s financial sector. Trabuco, 66, joined the bank in 1959 and has been at Bradesco ever since. In 2015, he made it clear to all and sundry that Bradesco was in his DNA when he declined an offer take over the Brazil’s ministry of finance.

Trabuco worked as a clerk when he was recruited. Over time, he earned a mid-level position as the marketing director of the bank.

He managed to streamline the bank’s communication systems making them more welcoming for journalists and other members of the media fraternity. In 1992, Trabuco was appointed to be in charge of Bradesco Previdência; seven years later, executive vice president of Bradesco Seguros. Trabuco served in the position for close to four years before he was made to be in charge of Bradesco Seguros, an insurance subsidiary of Bradesco Banco SA.

Trabuco’s performance as the president of Bradesco Seguros earned him the presidency of the bank in 2009. Trabuco has leveraged his position to foster the bank’s growth. In 2015, he was at the forefront of acquiring HSBC Brazil for a whopping 5.2 billion. According to him, the purchase enabled the bank to achieve at once what it would have taken it over six years of organic growth. The acquisition was among the most significant transactions in Brazil in 2015.

For more information about Luiz Carlos Trabuco: visit reuters.com