Towards the end of last year, Banco Bradesco SA announced the resignation of Mr. Lazaro Brandao. At the time of his resignation, Lazaro Brandao was the longest serving of bank in the entire planet. Mr. Lazaro noted that he was stepping down from his role as the chairman of the bank to spend more time with his family. Besides, Mr. Lazaro Brandao wanted to leave the leadership mantle to more vibrant leaders to take the bank through the current economic tides.
After his resignation, Lazaro Brandao named Luiz Carlos Trabuco Cappi as his successor. Luiz was therefore required to take over the roles of the president and the chairman of the bank until the new CEO was appointed in a general shareholders meeting held in March this year.
Before his resignation, Mr. Lazaro Brandao was the longest serving employee at Bradesco bank. He joined Bradesco bank in the late 1950s and exits the banking industry after serving at Bradesco for close to eight decades. During his 75 years of service at Bradesco, he served as the chairman for 27 years. Brandao also served as the president of Banco Bradesco for eight years before taking over the chairmanship from the founder of the bank, Amador Aguiar.
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A look at Bradesco’s new chairman
The new chairman at the second largest financial institution in Brazil began his career in 1969 when he joined Banco Bradesco as an intern. Luiz rose through the leadership ranks in Bradesco to become the director of the marketing department in 1984 and executive vice president in 1999.
He holds several qualifications from Brazilian colleges. Surprisingly, Luiz did have no background training in Accounting and Finance. He earned his degree from the faculty of Philosophy, sciences, and letters and later earned a post-graduate diploma in sociology and politics. Luiz completed much of his tertiary training while working at Bradesco bank.
The appointment of Luiz to the top-most position at Bradesco created a vacancy in the post that he previously held in the bank. During this years’ Bradesco’s annual general meeting, the delegates affirmed the appointment of Octavio de Lazari as the new CEO.
The 54-year old CEO previously led Bradesco Seguros, the insurance and pension division of the institution. Besides Octavio’s appointment, the delegated affirmed the names of other young executives to join the top management according to oglobo.globo.com. The inclusion of young blood the company’s top leadership is in line with Bradesco’s strategy to deal with the competition of the digital banks.