When Lázaro de Mello Brandão handed in a one-page handwritten letter of resignation as the chairman and president of the board of directors of Bradesco Bank in October 2017, it marked a new era at Brazil’s second-largest private bank. Even though it surprised some of the executives of the bank, Brandão held that he was obliged to end his 75-year stay at the bank as it was necessary for the preservation of leadership renewal practice he had inherited from the bank’s founder. Founded by the legendary banker, Amador Aguiar, has grown into a multi-billion entity with diversified interests across various industries during its close to eight decades history. Brandão’s duties will be handed over to Luiz Carlos Trabuco who is also the current president of the bank. However, Brandão will still serve as the president of the board of directors of the bank’s holding companies, Fundação Bradesco and Cidade de Deus Participações.
Under Brandão’s leadership, Bradesco the bank made major strides in terms of growth and development. Following in the footsteps of Mr. Aguiar and his idiosyncrasies and philosophies, Brandão oversaw the bank’s venturing into digital banking and while also promoting the growth of startups. He also oversaw an era of sustainable growth in Bradesco’s finances and customer base and expansion of operations to new frontiers and industries such as insurance. He recently oversaw Bradesco’s multi-billion dollar acquisition of HSBC’s Brazilian operations. His successor, Luiz Carlos Trabuco, is a company veteran who has already announced a major in the bank’s leadership structure. His successor as the bank’s president, Octavio de Lazari Junior, will not serve on the board of directors.
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Luiz Carlos Trabuco’s Rise through Bradesco’s Ranks
Luiz Carlos Trabuco joined Bradesco as a seventeen-year-old junior clerk in the small Brazilian town of Marília and within 15 years, he had risen to the position of marketing director at its headquarters in São Paulo. He modernized the bank’s communication and relationship with the Brazilian media. After eight years in the marketing department, he was promoted to serve as the chief executive officer of Bradesco’s private pension services provider, Bradesco Vida e Previdência in 1992. Mr. Trabuco would later rise to the position of managing director of Bradesco in 1998 before rising to the executive vice president position in 1999. Mr. Tabuco was also appointed to head various subsidiaries of the bank including serving as Bradesco Seguros’ president. At Bradesco Seguros, he oversaw significant growth in the company’s finances and market share which played a vital role in his 2009 appointment as Bradesco’s president.
Education Background: Towards Award-winning Leadership
Throughout his career at Bradesco and its subsidiaries, Luiz Carlos Trabuco has won numerous awards including Don Quixote Trophy in 2009, two Insurance Persons of the Year Awards and Entrepreneur of the Year in 2015. He has also featured on top influential Brazilians and Forbes’ Best Brazilian CEOs’ lists. Mr. Trabuco’s stellar career and excellent organizational-level and personal achievements are based on good education foundation he received at Fundação School of Sociology and Politics and São Paulo de Marília. He holds a degree in social psychology.