Luiz Carlos Trabuco Steps Forward To Lead Banco Bradesco Until New CEO is Elected

After over 25 years as the chairman of Banco Bradesco SA, Lazaro de Mello Brandao has decided to step down from his role. At 91 years old, he was one of the oldest bank chairmen in service. It will be a challenge for anyone to live up to Brandao’s rich legacy.

However, if anyone is able to do so, it’s Luiz Carlos Trabuco, the bank’s current CEO, and Brandao’s replacement. Luiz Carlos Trabuco has taken on both the role of chairman as well as that of the chief executive officer until a new CEO is elected this March.

The announcement of Brandao’s retirement has sparked a race for the position of CEO among the company’s top executives, with the outcome of that race being largely unpredictable until it’s decided in March. Whatever the outcome, the executive talent pool of the company is strong, and any of the rumored candidates are likely to benefit the company.

Luiz Carlos Trabuco
Luiz Carlos Trabuco is the current CEO and chairman of Banco Bradesco SA. He graduated from Fundação Escola de Sociologia e Política de São Paulo with a degree in Philosophy as well as postgraduate studies in Social Psychology.

He has dedicated much of his long and illustrious career to Bradesco, having acted as Banco Bradesco’s Investor Relations Officer, and, for 20 years, their Executive Vice-President. He was promoted to the position of CEO within the bank in 2009 and has held both the chairman and CEO positions simultaneously since October last year. Additionally, he spent six years as the chief executive officer of Grupo Bradesco Seguros.

In addition to his work with Banco Bradesco, Luiz Carlos Trabuco has held a number of other prestigious positions. These positions include President of the Marketing and Fundraising Commission of the Brazilian Association of Real Estate Credit and Savings Entities; Executive Vice-President and Member of the Board of Governors for the National Confederation of Companies in General Insurance, Private Pension and Life, Supplementary Health and Capitalization; Chairman of the Board of Directors of Odontoprev S.A. and numerous other executive positions.

Read more: Bradesco deve anunciar sucessor de Trabuco antes do Carnaval

The Race Ignites For the Position of CEO
During his management career at Banco Bradesco, Brandao encouraged promoting from within and scarcely looked towards outside sources when considering executives. The company is likely to maintain that course in the future, and they are highly likely to pick their new CEO from their existing executives. Luiz Carlos Trabuco will be naming his successor this March, and unnamed sources have reported that the choice will be made from the following seven executives:

Responsible for the bank’s human resources department, André Rodrigues Cano has been working for Bradesco since 1977.

The chief risk officer of Bradesco is Alexandre da Silva Gluher, and he has been working for them since 1976.

Responsible for Bradesco’s IT department, and the creation of their mobile banking app, Mauricio Machado de Minas is one of the newest at the company, having joined in 2009.

The branch network and high-income segment of the company is managed by Josué Augusto Pancini, and he has been working for Bradesco since 1975.

Marcelo de Araujo Noronha manages the bank’s card operation, the company’s corporate and investment banking, and Bradesco BBI. They have been working for Bradesco since 2003, as another newer hire.

Domingos Figueiredo Abreu is in charge of managing the treasury and lending departments for the bank and has been working with Bradesco since 1981.

Leading the bank’s insurance unit is Octavio de Lazari. He has been responsible for a third of the bank’s results and has worked for Bradesco since 1978.

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