At Bradesco, making the choice of the next president is a daunting task as there are so many processes and tests that are applied. The names fronted at the end of the day have never reflected persons who have been actively engaged in the disputes up until recently. A good example is the current Bradesco president, Marcio Cypriano. When he was being appointed, nothing major had been discussed concerning him but he ended up succeeding Lazaro Brandao.
In the same year 1999, Brandao assumed the role of being in charge of the board of directors at the bank. When the row of choosing the next president erupted, Brandao was just a mere underdog. History repeated itself again in the recent past when Luiz Carlos Trabuco, the executive vice president was named as the president’s successor.
Reasons for His Appointment
Luiz Carlos Trabuco got the nod due to a myriad of reasons. He had spent a huge chunk of his time as the chair of an insurer owned by Bradesco that is the biggest in Brazil from 2003. He was frequently mentioned whenever the subject of a viable predecessor occurred. He was also seen as a favorite as he has worked for Bradesco for a period exceeding 40 years. Luiz Carlos Trabuco had begun as a clerk in the company and grew with it thereby allowing him to learn the bank better than most people. This long service and experience ticked the right boxes as far as Bradesco’s philosophies of continuity and renewal traced back to the era of Amador Aguiar went.
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Earlier on, before Cypriano was appointed as the president, Trabuco had been touted as a possible candidate for the top seat at Bradesco. This was seen as a form of preparing him well for the future. Back then he was 47 years old and this age is viewed as very young in the eyes of the bank. Jose Luiz Acar Pedro was another possible contender for the presidency at Bradesco. However, he was 49 years of age thereby falling in the category of “very young” candidates. Luiz Carlos Trabuco was chosen to become the successor to the president due to his long experience in the company and his leadership stint at the group’s insurer.
Why Does Bradesco Require Change at the Top?
One of the major reasons why Bradesco is looking to change its leadership is the age of Cypriano, who hit 65 and has been unable to execute his executive mandates. The dethroning of Bradesco by Itau Unibanco to the throne of the biggest private bank present in Brazil could be another possible reason. Bradesco deeply values being at the top of the pyramid as it is a honor to occupy such a vantage position. This could be the reason why the bank desired to bring on board a fresh blood altogether. Luiz Carlos Trabuco will inherit the presidency during turbulent times due to the presence of a number of challenges facing the economy.
About Luiz Carlos Trabuco
Trabuco does not fit the description or definition of a banker as he has no background in economics, accounting, administration or engineering. Luiz Carlos Trabuco went to the University of Sao Paulo for his philosophy degree as well as a sociopsychology postgraduate degree from the School of Sociology and Politics at Sao Paulo. After completing school, he started off his career with the bank back in 1969. Within a few years, he had been able to become a successful person. In 1984, Mr. Trabuco was named as the managing director and as the pension company director from 1992-1998. Bradesco named Mr. Trabuco as the executive VP in 1999, before he assumed leadership at Bradesco’s insurance company.
Find more about Luiz Carlos Trabuco: https://www.jusbrasil.com.br/topicos/92691055/luiz-carlos-trabuco