Lazaro de Mello Brandao aged 91 years has finally decided to step down from the position of Bradesco’s Chairmanship where he has been serving the company for more than 25 years. Following his resignation, several candidates from within the executive ranks of the private lender have shown interest in the seat. After Brandao’s resignation on Tuesday, the current CEO of the bank Luiz Carlos Trabuco, which is ranked as the second largest private bank in Brazil, announced that he will temporarily hold the seat of chairmanship until March next year when the bank holds its shareholder assembly. Read more on istoedinheiro.com to know more.
Brandao is one of the world’s most prolific who have achieved historical successes in the banking sector. He started out his career in 1943 when he was only 16 years-old. He said on Wednesday, when submitting his formal resignation that he’ll still be in charge of some of the lender’s holding companies after his resignation. He also said that his family welcomed his resignation and that he intends to keep the official desk that he had been using for the last couple of years in Bradesco.
Brandao fostered an inspiring trend of promoting young and hard working talents into executive positions whenever they were declared vacant instead of hiring professionals from outside. When Trabuco announced that the candidates for the vacant position will be picked internally, it showed that the private bank intends to nurture that culture when it elects its new chairman 30 days before the March shareholder assembly. Although there are seven candidates who are likely to be considered for the position, the discussions are very private and thus the names can’t be made public. The type of people to be considered for the position should put Bradesco’s interests first and be dedicated towards ensuring that the bank achieves its predetermined objectives.
Trabuco reiterated that the company will only choose an executive who can respect the bank’s own pool of talent. Some of the prominent names that made it to the list of the preferred seven candidates include Domingos Figueiredo Abreu who is the head of lending and treasury departments, Mauricio Machado de Minas who is in charge of the IT department, Alexandre da Silva Gluher who is the banks’ chief risk officer, Josué Augusto Pancini who heads Bradesco’s branch network, Marcelo de Araujo Noronha who heads the bank’s corporate and investment banking, Octavio de Lazari who heads the bank’s insurance unit, and André Rodrigues Cano who is in charge of the bank’s human resources department.
It’s vital to remember that Trabuco is one of the most sought after Brazilian executives, especially in the banking sector that is being sought by international investors. In a recent interview with the press, Trabuco sounded optimistic about the national economy’s horizons. Most Brazilians are, therefore, optimistic that under the leadership of Trabuco, there will be a fair and flawless transition that visualizes a positive future of Bradesco. Trabuco believes that if the government pursues the objectives that it has right now, the confidence in the market will also increase dramatically.