At the age of 91, Lazaro de Mello Brandao is on the list as one of the oldest serving chairmen at a bank in the entire world. Recently, he has made an announcement of his stepping down from his role after 25 years serving Banco Bradesco.
It has triggered quite the succession race at this bank in Brazil, the second-largest bank when it comes to market value.
Brandao began his journey as a 16-year-old, working as a bank clerk in 1943. He began one of the two chairmen at the bank, and he was one of the four CEOs. In his lifetime, he has been ranked among the world’s oldest leaders in the banking world.
Brandao claims that there is now a need to renew the board at the bank to help ensure that it continues after he leaves. He even says that he decided to resign, but he will remain in charge of some of the holding companies at the bank.
Brandao is a chairman, and he has fostered a new management culture that will promote new executives from the existing employees instead of looking at outside sources for any new talent. In this way, they hope to use this to choose a replacement for Luiz Carlos Trabuco Cappi, who is set to hold his CEO position and Brandao’s until a replacement can be found.
Luiz Carlos Trabuco Cappi is currently sitting at the president of Bradesco bank, and he will be in charge of choosing a replacement for himself at the bank. As of right now, he is hoping to choose from the seven executives that rank the highest in the bank. Those who know who will be in the running and who will be chosen have been asked to keep the information quiet until an announcement can be made. Now he is the new chairman of the bank. Like Brandao, he also started as clerk after studying at University of Sao Paolo.
The new CEO will come directly from the bank’s talent already employed. Just last year, Bradesco bank had made a change with their maximum CEO age in their bylaws. It extended it to 67 from 65, giving Trabuco a chance to find a successor for his position in the bank.
When looking back to Brandao, it is easy to see how he has no regrets from his time served at the company. He was there for 75 total years. He says he will keep that same desk that he has been working from for the past few years. His family was all supportive of his decision to leave as well, telling him it was time to move on and retire.
There are seven different candidates that could take Trabuco’s position at the bank. Since they are coming from their talent pool, Trabuco, among others, hopes to find someone qualified for the job right in their office. In this way, they will be promoting someone who already knows the ways of the bank and is already on the payroll. This will both help the employees in the office and the bank in many ways.
Some of the possible candidates include the following men:
Mauricio Machado de Minas, 58
Alexandre da Silva Gluher, 57
Domingos Figueiredo Abreu, 58
Josue Augusto Pancini, 57
Marcelo de Araujo Noronha, 52
Octavio de Lazari, 54
Andre Rodrigues Cano, 59
Only time will tell who the bank chooses to fill the open CEO position, but we can expect an announcement as soon as a decision is made. Bradesco Bank needs the help that employing from within can give them. It will help themselves and their employees in various ways, and since their shares are falling, they need to act quickly.
For more information about Luiz Carlos Tarbuco, just click here.