Why the Speculations Regarding Trabuco’s Successor Should be Taken Seriously

At 91, Lazaro de Mello Brandao was still the chairman of the second-largest closely held bank in Brazil, Banco Bradesco SA. Bradesco hired Brandao in 1943, and he retired last month having served the bank for over 74 years. Obviously, Brandao was not hired as an executive—not even a mid-level employee. Brandao started working at Bradesco offering lower cadre services especially clerical services. When the bank employed him, Brandao was only 16 meaning that he had not completed his fundamental studies. However, nothing stopped Brandao from ascending the corporate ladder through mid-level management and finally to the highest level of leadership in the organization: the presidency and chairmanship.

In a media event covered by Bloomberg, Brandao announced his resignation. Apparently, no one requested the executive to step down, not even his family. He affirmed that he resigned wilfully to allow for the continuity of the bank’s board. Luiz Carlos Trabuco, Bradesco’s CEO, was named Brandao’s successor. Trabuco’s tenure as the president of the institution will end in March next year. He will then continue serving the bank as chairman. Cognizant of the fact that Trabuco’s term will end soon, Bradesco is searching for his replacement. In the same media event, Trabuco was categorical regarding who the bank will appoint as CEO—any of Bradesco’s high ranking employees. According to Trabuco, the bank is confident of the talent inherent in its employees, and it is ready to appoint one of them to lead the Osasco based financial institution.

Owing to the interest that the position of the presidency creates, pundits were quick to analyze Bradesco’s staff in an attempt to uncover who the bank might settle on to lead the institution as from early next year. They came up with seven names:

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

Of course, they came up with the names based on some criteria. For example, they considered the heads of central departments—the seven head different departments. Other issues considered include the duration that employees had served at the bank, their contributions to the success of the institution, age, and of course leadership qualities. They concluded it would be business as usual if Bradesco picks any of the seven.

Although speculations remain to be what they are, sometimes they turn out to be true. For instance, before Trabuco was appointed the chairman of the bank, speculations were rife that he was poised to take over from Brandao.

Who is Trabuco?

Unlike many bank executives who are respectable accountants, economists, actuaries, or financial engineers, Trabuco pursued philosophy in his undergraduate studies. Trabuco’s postgraduate studies focused on Socio-Psychology. Trabuco attended São Paulo State University for his undergraduate studies and the Fundação School of Sociology and Politics for his postgraduate studies.

Trabuco’s career has been marked by many achievements attracting recognition and awards from various publications and bodies. Starting from 2006 to date, Trabuco has been given over eight titles including “Business Sector Leader,” “Business Personality of Insurance,” ‘Insurance Personal of the Year,” and the most recent one of the “Best CEOs in Brazil.” In 2009, Trabuco was awarded the Don Quixote Trophy. GlobalCCU Awards named Unibrad Corporate University, a brainchild of Trabuco, the “Best Corporate University in the World.”

With over 48 years of service to the bank, Trabuco is one of the longest-serving employees. He is passionate about quality service delivery; something he emphasized when he took over as president in 2009. Trabuco was not bothered that Itaú Unibanco had outperformed Bradesco instead he was worried about making Bradesco the leading bank regarding quality service delivery to customers. For more information on Trabuco Bradesco visit:http://www.camar.sp.gov.br/images/imagesnoticias/851/principal.html

 

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