Bradesco Will Appoint A New CEO Amongst Its High Ranking Executives

Lazaro de Mello Brandao’s 74-year-stint at Bradesco ceremoniously came to a halt last month. The 91-year-old resigned after discharging entry-level duties, middle management responsibilities, and upper management tasks. His career at Bradesco includes few years as a clerk, 18 years as president, and 26 years as chairman. Between 1991 and 1999, Brandao was both the overall president of Bradesco as well as the chairman of the board of directors. With 74 years of his life dedicated to Bradesco, it was hard for Brandao to part ways with the bank. In fact, he is still holding on to some responsibilities related to the bank including the presidency of Fundacao Bradesco and chairmanship of the board of directors of Bradespar SA.

Brandao was a high-performing employee from the first day he stepped foot on Bradesco. Apparently, that is the reason that continually propelled him up the corporate ladder. However, his contribution to the Osasco based bank became more apparent when he rose to the presidency and chairmanship positions. Between 1999 and 2009, Bradesco bought ten banks in an inorganic growth strategy that cemented Bradesco’s position as the largest private bank in Brazil. Some of the banks that Bradesco acquired include Spanish BBVA, Boavista, and BMC.

Although Bradesco seemed like a formidable leader in the Brazilian private bank category, the merger between its two competitors, Banco Itaú and Unibanco in 2008 created the larger than life Itaú Unibanco according to Presently, Itaú Unibanco is commanding the lead in the whole of the southern hemisphere, and it is ranked the tenth largest bank in the world by market value with Bradesco trailing it closely.


Brandao was not amused that Bradesco was no longer the largest private bank, and he embarked on efforts that would see the bank overtake Itaú Unibanco wholly or in certain aspects. With Luiz Carlos Trabuco, the CEO, by his side, Brandao gave the go-ahead for the purchase of HSBC Holdings Plc.’s retail unit in Brazil. The acquisition occurred in 2015 at the cost of $5.2 billion to Bradesco. The massive sum of money involved made the transaction the most significant one in 2015. Most importantly, the purchase pushed Bradesco ahead of Itaú Unibanco in three areas: branch network, number of account holders, and total investment funds. In other three aspects—assets, deposits, and loans granted—Bradesco is ranked a close second to Itaú Unibanco.

Brandao fostered a culture of elevating junior cadre staff through the various ranks at the bank. In fact, the current CEO and the bank’s appointee to replace Brandao, Luiz Carlos Trabuco is the beneficiary of a culture that Brandao advocated for. Luiz Carlos Trabuco embarked on a career with the bank in 1969; he was hired a clerk. Over time, Trabuco’s culture of hard work paid off as he was promoted successively until he was appointed the president of Bradesco in 2009; Trabuco was selected to take over from Marcio Cypriano who had served as the third president of the bank when Brandao resigned in 1999. Presently, Trabuco is both the chairman and the CEO of Bradesco until the bank’s names a new CEO.

While Bradesco offers an equal opportunity for all its staff to ascend the corporate ladder, some employees are better placed than others to succeed Luiz Carlos Trabuco. Some of them include

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

The seven are high ranking Bradesco’s executives in charge of departments, subsidiaries, or crucial roles. They have been at the bank at different times ranging from 42 years to eight years.

For more information about Luiz Carlos Trabuco, just click