Luiz Carlos Trabuco Cappi Embraces The Recent Leadership Changes At Bradesco Bank In Brazil

There is no doubt that we cannot avoid change. Yet in the midst of change, too many people abdicate. It isn’t easy for a leader to let go of a position that they have held for some time, especially if the position comes with power. But one must be strong enough to welcome change when it comes knocking at their door. The best thing that a leader can do is to welcome change, embrace it and then take control of it. This type of change creates numerous opportunities, transforms institutions and also sparks their growth.

Recently, Bradesco bank, the second largest financial institution in Latin America underwent a restructuring that saw a new breed of leaders take over the leadership of the bank. It was a delicate affair since the old management had to ensure that the new leaders had the required skills and charisma to lead the second largest lender in Latin America. Here is a narrative of how events unfolded in the vast Brazilian banking sector.

Background information
Towards the end of last year (10th October 2017), the staff at Bradesco bank woke to the news that their longest serving chairman was stepping down from the post. The news surprised many people while others welcomed the news and wished Mr. Lazaro Brandao all the best in his future endeavors. This is considering the Lazaro Brandao was the oldest serving chairman of a financial institution at the time of his resignation.

Read more: Bradesco anuncia substituto de Trabuco

In his statement, the former chairman noted that he decided to resign to pave way for new leadership at the bank. He, however, noted that he would continue serving in other divisions of Bradesco bank. After resigning, Lazaro de Mello appointed Luiz Carlos Trabuco Cappi to be his successor as chairman. Luiz, who previously served as the president of the bank was required to step into the two posts until the succession committee finds another individual to take over as the bank’s president.

Mr. Lazaro even advised the appointment committee to give priority to qualified staff who has served in the bank for many years. This statement from the former chairman sparked a succession race at the bank. Since its inception in 1943, Bradesco bank has maintained a form of mythical dynasty where top positions in the bank are given to qualified individuals within the bank.

The process of electing the new president
According to Brazilian banking regulations, Luiz Carlos Trabuco Cappi could not serve in the two offices for more than three months. Therefore, the appointment committee was given until the end of February 2018 to announce the name of the new president.

It was a hard task for the committee considering that seven vice presidents serving in the bank presented their papers for consideration. However, after a series of meetings, the hammer finally fell on Octavio de Lazari, who previously served as the CEO of Bradesco Seguros according to istoedinheiro.com.br.

The name of the new president was passed during this year’s annual general meeting after which Luiz Carlos Trabuco Cappi handed over to the incoming president. Bradesco’s performance is set to improve greatly following the recent leadership changes. Luiz Carlos Trabuco Cappi is expected to continue working hard to ensure that the bank regains its market share.

Source: http://www.valor.com.br/financas/5153264/bradesco-novo-presidente-saira-do-corpo-executivo-afirma-trabuco

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