Assessing the importance of the role of President in a banking institution doesn’t take a rocket scientist – it’s unarguably more important than any other capacity served in any financial institution around the world. Learn more on Trabuco: Despite the uncertainties, investors believe in the country:http://www.valor.com.br/financas/5194121/trabuco-apesar-das-incertezas-investidores-acreditam-no-pais
What happens when a bank loses their President? Here’s what is going on with Banco Bradesco, a South American financial institution that’s home to Brazil.
Lazaro de Mello Brandao Steps Down
Lazaro de Mello Brandao had been the President of Banco Bradesco since 1990, the same year that Bradesco’s original founder, President, and Chief Executive Officer left the organization, citing health concerns as his sole reason for leaving the institution.
About six or seven weeks ago, Mr. Brandao and Luiz Carlos Trabuco Cappi held a press conference, with journalists unknowing of what was to come. Only when Lazaro de Mello Brandao and Mr. Trabuco Cappi formally announced his retirement from the rank of President did journalists and fellow bankers – with the exception of the institution’s board of directors – know what the conference was set to contain.
Brandao wholeheartedly deserved to relieve his duties, as the 91-year-old worked for Bradesco since he was only 16, remaining with the bank for quite literally the entirety of his working life. What’s even more impressive is the fact he was one of the initial employees to open the very first location, in the same city the future CEO, President, and a man of many other positions within the bank was born – Luiz Carlos Trabuco Cappi.
What’s Happening In The Interim? Who Will Step In For Open Positions?
At the time of the announcement, in the second week of October of 2017, Lazaro de Mello Brandao and Luiz Carlos Trabuco Cappi had left just one role open – that of Chief Executive Officer.
The moment Mr. Lazaro Brandao had formally stepped down, paperwork was already in place to promote Luiz Carlos Trabuco Cappi to President.
As such, Mr. Trabuco Cappi is currently the President, whereas the selected Carlos Alberto Rodrigues Guilherme to serve the banking organization’s team of executives as Chief Executive Officer
When Is The Hiring Process Slated To Be Finished?
In March of every calendar year, Banco Bradesco hosts a shareholder meeting. Mr. Trabuco Cappi has indicated that the new candidate will be selected for the role of CEO prior to March, 2018’s sharholder meeting.
The Relationship Between Trabuco Cappi And Brandao
Earlier last year, in the first week of October, Luiz Carlos Trabuco Cappi had turned 65 years of age. This is of importance because once the Chief Executive Officer – the role Mr. Trabuco Cappi was in – turns 65, he must immediately find a replacement and step down.
However, Mr. Lazaro Brandao has worked alongside Mr. Trabuco Cappi to change the aforementioned rule prior to his 65th birthday. Brandao was able to get the internal legislation enacted into the organization’s bylaws and guidelines prior to Mr. Trabuco Cappi’s 65th birthday, formally extending the maximum age of CEO to 67. This change happened less than one calendar year ago, as recently as September of 2016.
Brandao had planned on stepping down at an ideal time to keep Luiz Carlos Trabuco Cappi in an important role throughout Banco Bradesco’s team of executives.
Such suggests the relationship between the two longtime executives was objectively strong, especially when compared to relationships between others working for Banco Bradesco.
The Background Of Trabuco
Luiz Carlos Trabuco Cappi began his 40-plus-year tenure in 1969, as an entry-level teller. Mr. Trabuco Cappi was invited to its HQ in 1971 – all’s uphill from there. Visit:http://www.infomoney.com.br/mercados/noticia/6024599/frases-luiz-carlos-trabuco-sobre-economia-brasileira-davos