Lazaro Brandao, who resigned from his post as Bradesco Bank’s President of the Board of Directors stated that the replacement of individuals holding high level executive positions is a practical way to maintain the high standard of service the bank wishes to extend to its customers.
Brandao explained that since the development and advancement of technology is continuous – Bradesco has to keep abreast of all the needed innovations in order to meet the requirements of its likewise evolving customers. At the moment the bank is concentrating on local ventures that includes trade and merchandising, and the procurement of the HSBC Brasil is one good illustration of Bradesco’s maneuver to keep abreast of the volatile economy.
Bradesco Bank will announce its next bank president before the Carnival festival, and will be in accordance to the decision that will be made by the General Assembly slated for March 13, 2018. Speculation has it that Mauricio Minas who is the head for the Technology Department is the favored choice among those being nominated for the presidential position of the bank.
While Mauricio Minas seem to be the favored candidate above the rest since the resignation of Lazaro Brandao as the Chairman of the Board of Directors, other names being considered for the bank’s executive position are as follows: Andre Cano from the Human Resources Department, Octavio de Lazari Junior from the Insurance Department, and Marcelo Noronha of the bank’s Cards and Investment.
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The exit of Luiz Carlos Trabuco Cappi from the executive management position was extended because of the extension of the age limit from 65 years of age to 67, which was implemented last 2016 in the month of September. The age extension, along with the death of Marco Antonio Rossi who was Bradesco Seguros’s President and VP of Bradesco Bank, together with the acquisition of HSBC Brasil would have made it an impractical move for Luiz Carlos Trabuco Cappi to vacate his current position as the bank’s incumbent president.
According to Luiz Carlos Trabuco Cappi, the selection and appointment of his successor as the bank’s president will not be sugar-coated because whoever will be promoted as the next President will be chosen for his credentials and not because of anything else.
He continued to say that there should be continuity in the process of succession, so past and current objectives are carried over. Hence, Bradesco Bank’s next president must be a visionary who is likewise self-motivated in the sense that he must not disregard the significance of the daily operations that similarly requires his undivided attention.
In connection with his current dual position as President of the bank and the Chairman of the Directors Board, Luiz Carlos Trabuco Cappi revealed that the corporation is anticipating the probability of adding more numbers to its current board of directors, which at the moment is composed of eight members.
He disclosed that the configuration of the board of directors in corporations all over the world vary, and similar to his present situation some banks in the United States have bank presidents who are also the board chairman – although such a scheme actually exist the Bradesco management thinks otherwise for better checks and balances.
Luiz Carlos Trabuco graduated in University of Sao Paolo with a degree in Philosophy. Even if he is not a typical banker, he works for more than 40 years in Bradesco with different executive positions.