The longtime tenure of Luiz Carlos Trabuco Cappi as CEO of Bradesco, the largest bank in Brazil, is drawing to a close. Recent announcements by the bank have made it clear that Luiz Carlos Trabuco Cappi will replace outgoing chairman Lazaro Brandao. Trabuco Cappi, in turn, will need to select his own replacement by March of 2018. He has stated that he is prepared to take his time in choosing his successor. This means that it is likely that, at least for the foreseeable future, Trabuco Cappi will occupy both the position of CEO as well as that of chairman.
Brandao’s departure makes some investors uncertain of future
The man who Luiz Carlos Trabuco Cappi is slated to replace, Lazaro Brandao, has become a legend of the Brazilian banking world. First coming to work with Bradesco in 1943, when he was just 16 years old, and Bradesco had not even been in operation for an entire year, Brandao is now nearing his 92nd birthday and may be the oldest currently serving board member of a major corporation, anywhere in the world.
But it is more than just seniority and experience with the firm that has won Brandao such unqualified respect and admiration from stakeholders in the bank. After becoming CEO in 1981, Brandao embarked on a nearly 37 year executive career with the bank, the longest, by far, of anyone who has ever worked at Bradesco. In 1990, Brandao was appointed chairman of the board, a position that he held concurrently with that of CEO until 1999.
He has been the chairman for the last 27 years.
Throughout this period, he has overseen some of the most spectacular growth in the history of Brazilian business. The current market value of Bradesco is nearly 300 times what it was when Bradao took over as chairman, and it’s even higher multiples if we take 1981 as a starting point.
Many investors plausibly connect this period of unprecedented success at the firm with Brandao’s unique leadership abilities, clear-sighted vision and aggressive strategies of growth. For this reason, his departure, even as the nonagenarian banker ages towards the century mark, is making a number of shareholders quite nervous. When you have a winning horse, it’s sometimes hard to place your bets elsewhere.
But Brandao has been clear that he believes that Trabuco Cappi is the best bet to head up the board of directors. Brandao has stated that Trabuco Cappi and himself share a common vision for the bank and that it is likely that Trabuco Cappi will continue to oversee the implementation of the same broad strategy that both men had agreed on as the future course for the firm.
Read more on Wikipedia.org
Who will replace Trabuco Cappi?
This leaves the question of who will replace Luiz Carlos Trabuco Cappi as CEO of the bank. For a while, there were rumors swirling that he may be inclined to promote from outside the corporate ranks.
But Trabuco Cappi himself put a quick end to those rumors, stating explicitly that he would not depart from the corporate tradition of promoting the next CEO from within the company itself. Luiz Carlos Trabuco Cappi graduated in the University of Sau Paulo with a degree in philosophy. He is also a long-serving employee in Bradesco.
This would seem to leave just seven candidates who are theoretically eligible to replace Trabuco Cappi as CEO. However, many analysts are homing in on one candidate in particular. Maruicio Minas is the 57 year old chief technology officer for the bank. He was responsible for integrating all of HSBC Brazil’s tech assets into the bank as well as being one of the chief architects of the Next online banking platform, the latter platform becoming so popular that it has been spun off into its own company.
Learn more about Luiz Carlos Trabuco Cappi: http://economia.estadao.com.br/noticias/geral,trabuco-afirma-que-anuncio-de-substituto-pode-acontecer-antes-do-calendario-de-sucessao,70002039084