Luiz Carlos Trabuco Cappi, the current president of Bradesco has announced the incoming of the new president among many other changes in leadership on the horizon in 2018. Carlos Alberto Rodrigues Guilherme confirmed the newly appointed president Octavio de Lazari Junior, who is currently the Vice President, and will step down from Bradesco’s Executive Board. Octavio de Lazari Junior was not the favorite of the seven Vice Presidents considered for the new position. Octavio de Lazari Junior has a very impressive background and has the confidence of the bank to be able to continue the banks positive projection and withheld its position in the banking sector.
Octavio de Lazari Junior began his career with Bradesco in 1978, and in became the Director in the credit division of Bradesco in 1998. Octavio de Lazari Junior was appointed Director of Loans and Financing in 2010, and was appointed to the Board of Director Officers in 2012. In 2017 Mr. Octavio de Lazari Junior would become Vice President and Chief Executive Officer of Bradesco Seguros (Insurance).
Lazaro Brandao announced his resignation plans to the board and this was confirmed by Luiz Carlos Trabuco Cappi. Lazaro Brandao will be walking away from a 75 year career with Bradesco. Lazaro Brandao served 27 years on the council. With the very long career of Lazaro Brandao, his retirement was expected, however it was not expected to be so soon. Considering the recent acquisition of HSBC by Bradesco, Lazaro Brando extended the presidential age limit from 65 to 67.
Luiz Carlos Trabuco Cappi, also noted the new Vice President will be Carlos Alberto Rodrigues Guilherme. Carlos Alberto Rodrigues has been working with Bradesco since he was 13 years old. Now that Octavio de Lazari Junior has been appointed Bradesco’s new president, will be removed from the Bradesco’s Executive Body. Luiz Carlos Trabuco Cappi noted they are keeping with the culture of Bradesco, to hire from within and encourage upward mobility.
During the transition period Luiz Carlos Trabuco Cappi will be both the Vice President of the council and Chairmanship of Bradesco’s Board of Directors until the AGO meeting in March. The AGO is the Ordinary General Assembly, and it is during these meetings the new president will be announced. The Central Bank mandates the announcement of the new president be made 30 days before the AGO meeting.
Lazaro Brandao’s resignation will be missed, leaving vacancies in the Vice President of the Board of Directors and the Executive President, suggested Bradesco’s board be extended and there should be serious discussion addressing this, but not at this coming AGO meeting. Lazaro Brandao also stated concerning the current Brazilian economy, is a result of the current political turmoil, and lack of unity according to bradescori.com.br. Lazaro Brandao feels the only way to reform the economic situation is to focus on labor reform, while this is a hard and long road, it is necessary to get back on track.
Luiz Carlos Trabuco Cappi, is more optimistic about the future of the economy in Brazil, and the focus should be on the family. Luiz Carlos Trabuco Cappi also feels the credit sectors in Brazil should improve as a result of the recent increase in Brazil’s GD.
Find more about Luiz Carlos Trabuco Cappi: http://www1.folha.uol.com.br/mercado/2017/10/1926243-proximo-presidente-do-bradesco-saira-da-diretoria-do-banco-diz-trabuco.shtml