Luiz Carlos Trabuco Cappi is the chairman of the board of directors of Banco Bradesco SA, and at the same the time, the president of the Osasco-based Bradesco. He has doubled up as the holder of both positions for well over three months. Initially, Luiz Carlos Trabuco Cappi served only as the president of the bank, which boasts of being the second most significant private bank in Brazil after Itaú Unibanco, with Lazaro de Mello Brandao presiding over the board of directors; this has been the case since 2009. However, Lazaro de Mello Brandao, 91, resigned towards the end of last year, prompting the bank to appoint Luiz Carlos Trabuco as his successor.
Brandao ascended into the chairmanship of Bradesco in the early ‘90s. At the time of ascension, he was the president of the bank, a post he had held for ten years. Brandao then served the Osasco-based Bradesco in both capacities, abdicating duty as president in 1999. Marcio Cypriano was appointed to the office of the president of Bradesco following Brandao’s resignation.
Serving as chairman during both Cypriano’s and Luiz Carlos Trabuco Cappi’s tenures, Brandao was instrumental in growing Bradesco to its present mammoth size. Brandao and Cypriano facilitated Bradesco’s acquisition of ten smaller banks including American Express and BBVA’s Brazilian subsidiaries. Alongside Luiz Carlos Trabuco Cappi, Brandao enabled the Osasco-based Bradesco to takeover more banks such as Ibi Brazilian and Ibi Mexican. Bradesco’s acquisition spree culminated in the takeover of HSBC Holdings Plc.’s retail unit in Brazil. The purchase, which occurred in 2015, was valued at $5.2 billion. And were it not for Itaú Unibanco’s vast assets and commendable market capitalization, the acquisition would have pushed Bradesco ahead of its chief rival, Itaú Unibanco. Nevertheless, Brandao resigned having spearheaded what will remain to be one of the most significant growth periods at the bank.
While serving as the chairman and president of Bradesco is not in violation of Bradesco’s bylaws or culture, Luiz Carlos Trabuco Cappi’s tenure as the CEO of the bank will end in March. Bradesco is required to find a new CEO, who is younger than 67, as directed by the bank’s constitution. For convenience, newly elected CEOs should be at least ten years shy of 67 to save the bank the hustle of electing new presidents in quick succession.
Succeeding Luiz Carlos Trabuco Cappi, as reported by Bloomberg, is one of its high-ranking executives. Bradesco has many high-level executives, but those currently at the helm of Bradesco Seguros, Bradesco BBI, human resources, IT, treasury and lending departments are thought to be the front-runners in the succession contest. They include
- Mauricio Machado de Minas
- Alexandre da Silva Gluher
- Domingos Figueiredo Abreu
- Josué Augusto Pancini
- Marcelo de Araujo Noronha
- Octavio de Lazari, and
- Octavio de Lazari
Luiz Carlos Trabuco Cappi
He ranks high among Bradesco’s longest-serving employees. Luiz Carlos Trabuco Cappi joined Bradesco 26 years after its inception. The bank hired him to discharge clerical duties, and the executive has remained loyal to Bradesco ever since, disregarding any calls to quit. For instance, Luiz Carlos Trabuco Cappi was requested to preside over the country’s ministry of finance, but he politely declined former president Dilma Rousseff’s offer.
At the helm of the multi-billion worth Bradesco, many assume that Luiz Carlos Trabuco Cappi studied economics, finance, accounting, or even engineering. They are surprised to establish that Luiz Carlos Trabuco Cappi pursued philosophy at Sao Paulo State University. He later attended Fundação School of Sociology and Politics of São Paulo where he studied socio-psychology. Banco Bradesco is poised for exciting times ahead as Luiz Carlos Trabuco Cappi seeks to assert himself as the third chairman of the Osasco-based bank.
For more, read https://www.brasil247.com/pt/247/economia/321809/Trabuco-assumirá-presidência-do-conselho-do-Bradesco.htm.