Why Trabuco’s Appointment as Chairman of Bradesco Came as no Surprise

 

Historically, Banco Bradesco SA’s process of appointing either a new chairperson or chief executive officer is shrouded in secrecy. After the first chairman and president, Amado Aguiar, Bradesco’s appointments in the mentioned offices have come to many as a surprise. The names that dominate the mainstream media, publications, and the internet as the likely names to occupy the high offices always have never been the names that Bradesco settled on. Case in point: the appointment of Lazaro de Mello Brandao in 1981 to take over the presidency of the bank came as a surprise as his name had not featured widely in the names pundits thought were best suited to succeed Aguiar. Ten years later, Brandao got appointed to succeed Aguair as the chairman of the bank owing to the dilapidated state of health of Aguiar. Again, his appointment raised an eyebrow as he was seen as an underdog in the succession battle. Brandao is now retired having served the bank for over 74 years. He relieved himself of the chairmanship duties on October 11. Check more on istoe.com to know more about Trabuco Bradesco.

However, many experts expected Luiz Carlos Trabuco to take over the chairmanship of the bank last month, and he did. But no one thought he would be Marcio Cypriano’s successor as CEO in 2009. Trabuco, who is the serving CEO of the bank, was talked about less as José Luiz Acar Pedro’s and Roger Agnelli’s names too the center stage. Once again pundits were proven wrong when Trabuco was started serving as the CEO of the bank in March 2009. After eight years as CEO, Trabuco was set to retire, and probably leave Bradesco early next year. Not any more as he is now the new chairman representing the Bradesco Foundation, the controlling shareholder of the bank, on the board of directors. It is safe to assume that Trabuco’s tenure as CEO is likely to be as lengthy as Brandao’s tenure which spanned over 25 years.

According to Bradesco’s bylaws, a new CEO is supposed to be elected soon, and heshe will assume office in March next year when Trabuco’s term officially comes to an end. As was the case in the previous instances of successions, the most talked about professionals currently seen as the overdogs in Trabuco’s succession talks include:

  • Mauricio Machado de Minas
  • Alexandre da Silva Gluher
  • Domingos Figueiredo Abreu
  • Josué Augusto Pancini
  • Marcelo de Araujo Noronha
  • Octavio de Lazari
  • André Rodrigues Cano

Who are they? The bank in its past appointment of professionals to occupy the high office has shown bias in favor of its employees. In fact, in a media event covered by Bloomberg, Trabuco was categorical that Bradesco would not venture out in search of a new CEO—Bradesco would instead appoint one of its own to lead the bank. Who among the seven will succeed Trabuco?

As indicated earlier, Trabuco’s appointment to succeed Brandao came as no surprise as people had speculated the same. The speculations arose from the view that having served the bank for over 48 years, Trabuco understands Bradesco like the back of his hand, and he would continue the institutions’ culture like he predecessors would have done. But make no mistake, Trabuco is a revolutionary leader who is not scared to push the boundaries even if they are somehow against what his predecessors advocated. While Aguiar was against segmentation, Trabuco was and is still a proponent of segmentation. In fact, Bradesco has successfully implemented segmentation under Trabuco’s stewardship. Also, Trabuco is in support of the bank’s culture of appointing its staff at the expense of professionals from other institutions, but he remains open-minded to the concept of scouting for talent from outside Bradesco. Visit:http://www1.folha.uol.com.br/mercado/2017/10/1926043-lazaro-brandao-sera-substituido-por-trabuco-no-conselho-do-bradesco.shtml