Bradesco’s New President To Be Announced

Lázaro Brandão, who resigned on Tuesday as chairman of Bradesco’s board of directors, said today that there needs to be a prudent “renewal” in the position so that there is the perpetuation of a job of high quality in the bank.

Brandao will be succeeded by the chief executive of Bradesco, Luiz Carlos Trabuco.

Chairman of the board since 1990, when it succeeded the founder of the institution, Amador Aguiar, Brandão said that he took the initiative to resign from office, preserving the presidency of the companies of the group. Brandão will remain in the chair of the board of directors of Bradesco’s parent companies.

At 91, he stressed that the technological process is constantly advancing and Bradesco has been trying to follow these innovations to serve its customers well. The focus remains largely domestic and retail. Trabuco pointed out that Brandão is part of a team that represents the “epic, even legendary” phase of Bradesco in the 1960s.

The choice of his successor in charge of the bank will be natural and will respect the tradition of taking advantage of the talents of the house, said Trabuco. The subsequent president plans to leave the executive board of Bradesco.

Read more: Bradesco anuncia Octavio Lazari no lugar de Luiz Carlos Trabuco

Until then, Trabuco will hold the board and executive presidencies – something that, according to him, is a transient situation that is not part of the bank’s governance. Trabuco said that what is sought is not a transformation, a succession of the current bank by the bank of the future. Therefore, the profile sought is a composition.

Bradesco discusses the possibility of expanding its board of directors, now composed of eight members. Bradesco is one of the most important bank in the industry of Brazil. However, there is still no decision made, Brandão said. With his exit, the collegiate will be temporarily with one less representative.

“There is an expectation that this increase could be more than one unit, but this is not defined,” he said. According to him, the names must come from internal tables.

According to Trabuco, there are debates all over the world about the formatting of boards of directors. He recalled that in US banks, it is common for the chief executive to also be the chairman of the board. “It’s a model that exists, but we believe in another reality,” he said.

Trabuco stressed that the rules of Basel 3 require a leading council. Trabuco is the CEO of Bradesco Group. He graduated in University of Sao Paolo with the degree of psychology. After he graduated in college, he worked as a clerk in Bradesco in their Marilia branch.

Find more about Luiz Carlos Trabuco Cappi: http://www1.folha.uol.com.br/mercado/2017/10/1926243-proximo-presidente-do-bradesco-saira-da-diretoria-do-banco-diz-trabuco.shtml

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