It is now three months since Bradesco bank, the second largest bank in Latin America announced the new president of the bank. The person chosen to replace Luiz Carlos Trabuco is none other than Octavio de Lazari, the former CEO of Bradesco Seguros. The new president of Bradesco bank was appointed following the stepping down of the former chairman towards the end of last year.
When Lazaro Brandao resigned from his post as the chairman of Banco Bradesco, he appointed Luiz Carlos Trabuco Cappi as the new chairman. Luiz Carlos Trabuco Cappi was allowed to stay in the presidency until March this year when the appointment committee announced the new president of the bank. The Brazilian banking regulations do not allow an individual to serve in the two offices for more than ninety days.
The appointment and succession committee at Bradesco bank had a huge task of eliminating the candidates who had expressed their interest in succeeding Luiz Carlos Trabuco. Among the people who presented their CVs for consideration include seven vice presidents who already serve in the bank in various departments.
However, no one had foreseen the appointment of Octavio de Lazari as the replacement for Luiz Carlos Trabuco Cappi. But the new chairman defended the appointment of Lazari junior saying that it followed the due succession process as laid down in the bank’s regulations. He went ahead to note that Octavio de Lazari will need to work extra hard to ensure that the bank maintains the lead.
The two gentlemen sitting at the helm of Bradesco bank have a huge task of ensuring that they maintain the legacy left behind by Lazaro de Mello Brandao, the former chairman of Bradesco bank. But considering their performance in the past, both Luiz Carlos Trabuco Cappi and Octavio de Lazari are expected to significantly improve the performance of the bank as they have been doing in the past.
Octavio de Lazari previously worked in the credit section of the bank. He managed to turn around the performance of the credit division of the bank, which prepared for the appointment for the position of the CEO of Bradesco Seguros Group. Fortunately, he met that the Pensions and Insurance division was already performing well after Luiz Carlos Trabuco Cappi introduced numerous reforms.
Bradesco’s performance in 2017
Even with the massive managerial restructuring in the bank, Bradesco still managed to perform well. The company closed the year with revenues amounting to $76.3 billion Reals. The figures announced by the bank had increased by 6.8 percent compared to what the company announced in 2016. Bradesco is the second largest bank in Brazil.
Right now, CEO Luiz has directed his energies towards economic reforms that will help the banking industry to thrive in the coming years. Recently, he was quoted supporting the reforms of the pension scheme in the country. Experts say that the Brazilian pension scheme is one of the most generous in the entire world. Currently, it is eating a huge chunk of the federal government’s revenues leaving little money for development. If it goes unchecked, it might cause a grave economic standstill in the country.