After the announcement that Lazaro Brandao, the longtime chairman of the Grupo Bradesco board, will step down, it was announced that Luiz Carlos Trabuco, the current CEO, will replace him as chairman. This has given rise to a great deal of speculation concerning who will, in turn, replace Trabuco Cappi as CEO of the most important financial institution in Brazil.
Trabuco Cappi says he will promote from within
Despite some early rumors to the contrary, Trabuco Cappi has explicitly stated that he will promote from within the company ranks. This means that there are only seven potential candidates, all current vice-presidential-level executives with the bank. While it is possible that any of the current vice presidents could be appointed the next CEO, those close to the process believe that there are really only two candidates that Trabuco Cappi is likely to be seriously considering.
The first is Alexandre Gluher, the current risk management chief at the bank. Gluher helped the firm transition through the period following the acquisition of HSBC Brazil. The complex deal was apparently facilitated by Gluher’s mergers and acquisitions knowledge and his ability to keep the bank’s books within acceptable risk limits. Gluher, at 58 years old, is also one of the most senior executives. This, combined with his proven track record of accomplishment at the bank, leads some analysts to conclude that he has a very strong chance of becoming the next CEO.
However, others disagree. They point to Mauricio Minas, the 57 year old chief technology officer for the firm. Among his many accomplishments, Minas has overseen the development of the Next online banking platform, a system that has proven to be so successful that the bank has actually spun it off into its own company. Minas was also the main person responsible for guiding the process of integrating all of HSBC Brazil’s financial technologies into those of Bradesco. This considerable feat was a crucial part of making the acquisition work, with Minas having won the respect and approval of Trabuco Cappi.
But those who know Trabuco Cappi and his thought processes well acknowledge that what will likely turn out to be the decisive factor in his decisions of who to promote will turn out to be his strong belief in and advocacy of technology, particularly that the ability of the bank to continue innovating with technological products will largely determine its future success. In this light, it is easy to presume that Minas will very likely be selected as the next CEO of Bradesco.
Follow Luiz Carlos Trabuco Cappi on LinkedIn
But Trabuco Cappi has said that he will take his time and that the decision will not be rushed in any way. The head banker has until March of 2018 to announce his decision. In the meantime, he will hold both the office of CEO and that of chairman.
A legend departs
As the story of the next CEO is just at its beginning, that of the legendary chairman is nearing its end. Lazaro Brandao, at 91 years old, is one of the oldest chairpersons of any major corporation in the world. He has been with the firm for an incredible 75 years, joining in 1943, at the age of just 16.
Even as Brandao nears the age of 92, some members of the board and shareholders are uncomfortable with his departure. The chairman has overseen the period of the most massive growth in the history of the bank, with the stock price increasing by over 300 times since he took over the chairmanship in 1990.
But Brandao has assured all stakeholders that Trabuco Cappi is fully qualified and the best man to succeed him.