Bradesco, one of the largest banking institutions in all of Latin America, has recently announced that big changes are coming to its upper management.
For starters, Luiz Carlos Trabuco Cappi, the current CEO of the firm, will be leaving his current post to take up the chairmanship of the board of directors. He will be replacing the longstanding chairman of the group, Lazaro Brandao, who has occupied that post continuously for the last 27 years.
Although the changes have caused some consternation among stakeholders, most experts agree that there are unlikely to be significant changes going forward. Both Brandao and Trabuco Cappi have commented extensively on the fact that they share a strategic vision, both for their bank and for the country of Brazil as a whole. And both men have long been staunch advocates of aggressive growth and the adoption and continued innovation of technological solutions to add value to their customers interactions with the bank.
Who will replace Trabuco Cappi as CEO?
Another aspect of the changes is that Trabuco Cappi will need to appoint his own successor as CEO of the firm. Most observers believe that the new CEO will be primarily tasked with quotidian managerial activities, as the broad strategic path down which Bradesco is treading was set many years ago. But it still matters who Trabuco Cappi picks, as they will be in control of the day-to-day operations for as many as ten years or longer.
At first, it was widely speculated that Trabuco Cappi may go outside the firm’s ranks to recruit the next CEO. This idea was bolstered by the fact that Trabuco Cappi himself is known to be a staunch advocate of meritocratic-based promotion. He is even personally responsible for the founding of a school for executives, which was designed to create broader pool of talent from which Bradesco and many other Brazilian companies could begin to recruit executives.
But Trabuco Cappi put these ideas to rest. He came out explicitly stating that he would not be departing from the firm’s longstanding tradition of promoting future CEOs from within its own ranks. This leaves a total of just seven candidates from which the new CEO can be selected. However, those close to the process believe that Trabuco Cappi is really only eyes a pair of prospective candidates.
The first is Alexandre Gluher, the 58 year old chief risk officer for the firm. Gluher has spent nearly his entire career with the bank. He was responsible for overseeing the valuation and risk assessment of all of the HSBC Brazil assets, which were acquired, in full, in 2015. He was also instrumental in mitigating the substantial risks that the bank needed to navigate throughout the tumultuous years of the early 2010s.
Gluher has the clear edge in terms of seniority and credentials. But many are speculating that the real favorite to become the next Bradesco CEO is the 57 year old chief technology officer named Maurcio Minas. Minas has been with the firm for far less time than many of the other candidates, especially Gluher. But he has also been instrumental in a number of projects over the last five years, all of which have significantly contributed to the bank’s current standing and profitability.
Minas was the chief architect in the development of the Next online banking platform. This system ultimately proved to be so successful that it was eventually spun off into its own company.
He was also the man behind the integration of all of HSBC Brazil’s assets into those of Bradesco, a huge project that went off without a hitch.
Search more about Luiz Carlos Trabuco Cappi: https://www.brasil247.com/pt/247/economia/321809/Trabuco-assumirá-presidência-do-conselho-do-Bradesco.htm