In October of 2017, one of Bradesco Banks oldest and most respected executives retired at the age of 91. Lazaro Bandao was serving as the President of the board of directors at Bradesco bank. Brandao has been working at Bradesco bank for over 70 years and is only the second president of the board of directors. Brandao will be replaced temporarily by the banks current CEO Luiz Carlos Trabuco.
Luiz Carlos Trabuco has also been with the bank for almost five decades. A tradition in Brazil is to hold only one executive position and therefore, Luiz Carlos Trabuco will find a new CEO by March of 2018. Luiz Carlos Trabuco will retain the presidency of the board of directors however. The Banco Bradesco’s bylaws say the maximum age for the CEO is 65, but in 2016 it made an exception for Luz Carlos Trabuco and changed the bylaws to 67. Now, at the retirement age Luiz Carlos Trabuco will replace the revered nonagenarian Brandao as president of the board of directors.
In the seven-decade history of Banco Bradesco, Luiz Carlos Trabuco is only the fourth CEO. The first CEO was none other than the legendary Amador Aguiar. Today, Banco Bradesco is the second largest financial institution in Latin America. It manages over $280 billion in assets and has a loyal workforce whom many have been with the bank for decades. For example, Carlos Alberto Rodrigues Guilherme, who has been with the company since he was 13 years old, will take up Luiz Carlos Trabuco’s vice-presidency role of the board of directors.
Read more: Lázaro Brandão será substituído por Trabuco no conselho do Bradesco
During Brandao’s retirement function Luis Carloz Trabuco announced that his replacement as CEO would be chosen according to the banks traditions. The banks tradition states that one of the banks Vice Presidents will be elected as the new CEO according to valor.com.br. There are currently seven Vice Presidents including Mauricio Machado de Minas, Alexandre da Silva Gluhar, Domingos Figueiredo Abreu, Josue Augusto Pancini, Marcelo de Arujo Noronha, Octavio de Lazari, and Andre Rodrgiues Cano. One of these talented and qualified men will become Banco Bradesco’s next Chief Executive Officer in March.
Luiz Carlos Trabuco is currently the CEO and President of the board of directors at one of Brazil’s largest financial institutions, Banco Bradesco. Born in Marilia, Brazil in 1951, Luiz Carlos Trabuco has had an immaculate career and is an exceptionally hard working leader and role model. He earned his bachelors degree in philosophy, science and letters from the University of Sao Paulo and his masters in socio-psychology from the Foundation School of Sociology and Politics in Sao Paulo. He joined Banco Bradesco while still in college at the young age of 18. A little over a decade later he was promoted to Departmental Director and after several productive years was again promoted to Managing Director Executive and then quickly to Executive Vice President a year later. In 2003, Luiz Carlos Trabuco became President of Bradesco Seguros where he excelled at his position. Under Luiz Carlos Trabuco, Bradesco Seguros had phenomenal growth, doubling its assets and increasing its ROI by 7%. His brilliance and excellent performance earned him the respect of his peers who would elect him as the fourth CEO of Banco Bradesco in 2009. Since Luiz Carlos Trabuco took the helm the bank has seen a 75% increase in accounts and is now comprised of over 5000 agencies.
Luiz Carlos Trabuco continues in the footsteps of his predecessors. He maintains Banco Bradesco’s traditions and culture of providing loans to everyone and supporting financial services that are not glamorous or even lucrative to the company. These minor services help more people and in turn elevate the banks reputation and responsibility to the entire Latin American community.
Find more about Luiz Carlos Trabuco: http://economia.estadao.com.br/blogs/coluna-do-broad/bradesco-deve-anunciar-sucessor-de-trabuco-antes-do-carnaval/