Lazaro de Mello Brandao, the now-former Chairman of the Board of Directors of Banco Bradesco, retired less than a month ago, on October 11th of 2017. Despite Mr. Brandao not making any hints in media, to employees, or fellow banking industry associates, him being 91 years of age makes it easy for even the most reasonable, non-predictive of people to assume that he would step down at some point prior to 2020, at the very latest.
Mr. Lazaro Brandao was only the second Chairman to serve Banco Bradesco SA since the financial institution was founded in the small town of Marilia in 1943.
Amador Aguiar, the founder of Bradesco, had served the privately-held bank from its foundation in 1943 up through 1990. Mr. Aguiar was forced to step down, citing health issues severe enough to interfere with regular workplace functions.
Luiz Carlos Trabuco Cappi, who is serving Bradesco as the Chairman in the interim, was forced to step down from his regular post as Vice-President of the Board of Directors, as Banco Bradesco rules do not allow any one person to be named both the Vice-President and Chairman of Board of Directors at the same time. Carlos Alberto Rodrigues Guilherme will replace Luiz Carlos Trabuco Cappi in the here and now, and be filling in for Mr. Trabuco until a replacement at Chairman is named sometime in the early months of 2018.
Mr. Trabuco is being promoted to Chairman of the Board of Directors, and will not be replaced by any candidates in the upcoming job search. Luiz Carlos Trabuco Cappi will not return to his regular post as Vice-President as soon as the job search is finished.
Mr. Lazaro de Mello Brandao shared not long after announcing his retirement that he had been aiming to resign for several years. However, because he was patient in waiting for an ideal time to resign from his duties as Chairman of the second-largest privately-held bank in the South American country of Brazil, Mr. Brandao was able to extend the working life of Luiz Carlos Trabuco Cappi at Banco Bradesco.
Throughout the entire history of Bradesco, ever since its foundation in 1943, no Chief Executive Officer could be over the age of 64. In 2015, Luiz Carlos Trabuco Cappi turned 65. Lazaro Brandao was able to change the rule, despite having been in place throughout the entire history of Bradesco’s operations.
Mr. Lazaro Brandao found this rule change important because Luiz Carlos Trabuco Cappi had first encouraged the acquisition of HSBC Holdings‘ retail banking unit in Brazil.
In 2014, Mr. Trabuco first had the idea to acquire HSBC Holdings’ operations in Brazil. In 2015, that idea came to life, as Luiz Carlos Trabuco Cappi led Bradesco to purchase the London-based conglomerate’s assets for a whopping $5.2 billion. It was, for this reason, Lazaro Brandao felt it so important to change the age limit rule, as handing the transition of HSBC Holdings’ assets off to another, entirely inexperienced employee, could have resulted in that branch of operations failing to become one with the rest of Bradesco.
Mr. Luiz Carlos Trabuco Cappi made clear that the new candidate, whoever it may end up being, would be hired from within. Banco Bradesco has a tradition – not different from similar traditions at other organizations in the Portuguese-talking, South American nation of Brazil – in which it promotes existing employees to executory roles, including the ranks of Chairman, Vice-President – both positions on the Board of Directors at the financial institution – and Chief Executive Officer, where Mr. Luiz Carlos Trabuco Cappi was placed after four decades with the bank.
Search for more information about Luiz Carlos Trabuco Cappi: http://www.istoedinheiro.com.br/noticias/negocios/20151218/luiz-carlos-trabuco-cappi-empreendedor-ano-nas-financas-2015/327856