Every economy relies on a robust financial sector to succeed. As such, finance has been described as a fundamental aspect of the development of a country’s financial system. In banking especially, this is a crucial aspect that controls money circulation.
Speaking of banking and financial industries, Banco Bradesco is one successful financial services institution in Brazil. It operates as an independent provider of financial products as well as services. Together with running along two primary segments namely banking and insurance, then pension and capitalization, the company has strategically positioned itself in the most competitive industry in Brazil.
The Back Story
In late 2017, Banco Bradesco announced the resignation of the longest-serving chief executive officer, Mr. Brandao de Mello. At 95, he thought it wise to step down and allow a youthful individual to take over the realms of leadership. In his letter of resignation, he mentioned the value of internal recruitment and how critical it was for Bradesco to elect a new president from within the banking institution. Apart from that, he temporarily handed over his crown to Luiz Carlos Trabuco.
The culture Brandao fostered into the bank has received the support of Luiz Carlos Trabuco who has often advocated for internal recruitment as well. As the bank changes its leadership age limit to 67, Trabuco who was meant to resign has been rightfully retained by the organization.
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Luiz Carlos Trabuco joined Banco Bradesco when he was a teenager. He has since worked for the institution for over four decade. His contribution to the banking institution fueled his current appointment. For starters, he introduced Bradesco to the media. Then he paved the way for the institution to partner with various companies within the same industry. Additionally, Luiz Carlos facilitated the acquisition of one HSBC, move that he perfectly crafted to ensure a smooth transition within the companies.
The New President
54-year-old Octavio de Lazari is the vice president of Bradesco then the president of Bradesco Seguros Group. Even as he comes in as the president, he shall retain his two positions. The new composition of the bank took place in March following a meeting by the board of directors. In the meeting, the team discussed their preferences of the candidate that was coming in to replace Luiz Carlos Trabuco. Apparently, they needed an individual whose experiences speak volumes about commitment and dedication to work; and Octavio was just the ideal individual. Over and above, he is a classic example of a man who began his career with the lowest job title and paved up his way to senior leadership. First working as an office boy for Bradesco, he cultivated the virtue of patience and put in more work to earn him several promotions.
More on Luiz Carlos
Similarly, Luiz started his career from the bottom of the ladder as clerk. However, he knew that he could achieve a lot had he invested in the virtue of persistence and dedication. Therefore, he worked hard to earn several promotions including heading the board of directors department. Currently, he retains his position as the chairman. However, he shall still work closely with Octavio in guiding Banco Bradesco.
Check more about Luiz Carlos Trabuco: http://economia.estadao.com.br/noticias/geral,bradesco-anuncia-substituto-de-luiz-trabuco-na-presidencia-do-banco,70002178384