Bradesco is going to hold its shareholders meeting next month wherein it is expected that the name of the new president will be announced. The retirement of Lazaro de Mello Brandao as bank chairman and the subsequent appointment of Luiz Carlos Trabuco Cappi to take his place have set the stage for the election of a new CEO/President of the bank. Cappi is now currently holding the position of President of the bank and if he leaves his post to assume its chairmanship, another man should be able to take his position right away.
In terms of market value, Bradesco is considered the second largest bank in Brazil. To continue its leadership role in the country’s banking industry, the bank has to choose one from among a number of its top executives to take the place of Cappi. Reports say that there are seven of these Bradesco top executives who are included in the short list. Bradesco has been tapping inside talents to fill up its top executive positions instead of getting outside talents. This management style was started by the outgoing chairman, Brandao, and it seems that the big bank is not about to ditch off this culture anytime soon.
Here is the short list of Bradesco’s top executives who are being considered for the CEO position. Who will be the lucky guy?
Octavio de Lazari, 54. He is recently added to the top management team in Bradesco, and is now in charge of the bank’s insurance unit
Josué Augusto Pancini, 57. He is the current head of Bradesco’s high income segment and branch network
Mauricio Machado de Minas, 58. He is presently in charge of the bank’s IT department
Marcelo de Araujo Noronha, 52. He is now responsible for the bank’s corporate investment unit
Domingos Figueiredo Abreu, 58. He is currently in charge of Bradesco’s treasury and lending departments.
André Rodrigues Cano, 59. He is now the head of the bank’s human resources department
Alexandre da Silva Gluher, 57. He is currently the chief risk officer of the bank
Brandao, at the age of 91, is considered as one of the oldest bankers in the world. He joined the bank in 1943 when he was only 16 years old as a lowly clerk. He applied his education and training very well and through the years was able to rise up from the ranks and became its president in 1981. He served in this capacity until 1999 when he was promoted to Bank Chairman. During his tenure as Bradesco Chairman, the bank increased its market value to become the second largest bank in Brazil.
Meanwhile, Cappi is another Bradesco executive who served the bank for many years. He worked with the bank for over 15 years before he was promoted to Marketing Director. Then he was promoted again in 1992 to the position of CEO/President. He will be turning over this position next month as soon as a new President is named among the 17 hopefuls listed above. He has been serving Bradesco for a total of 44 years, counting from the day he joined the bank. But his total years of service may still be more than that as the bank has recently amended its ruling on the maximum age a CEO could hold his position. The age was increased from 65 to 67. The oldest age among the 7 hopefuls is only 59.
Brandao, on the other hand, will not be completely out of touch. Reports say that he will still maintain a close relationship with Bradesco. Apparently he will be given the responsibility of overseeing some of the bank’s holding companies.