Bradesco Bank has announced that Octavio de Lazari, Jr., president of its Bradesco Seguros branch and one of the company’s vice presidents, will be replacing Luiz Carlos Trabuco Cappi as its president. Trabuco’s time in office was characterized by many highs, the chief of which is the acquisition of HSBC for $5.2 billion. He was selected by Bradesco’s Succession and Appointment Committee.
Trabuco will be maintaining his role as Chairman of the Board of Executive Directors until the convening of the Ordinary General Meeting on March 12. Upon assuming the helm, Lazari will begin leadership of Brazil’s second-largest bank.
The 54-year-old Lazari is an economist who first joined the Bradesco team in 1978 when he was just a teenager. He has stated that he will begin his leadership role with a huge emphasis on credit growth, something he believes is imperative to the future of Bradesco. As mentioned Lazari has been serving as the president of Bradesco Seguros. Prior to becoming the president of the entire company, Trabuco was also president of BS. He is now departing the president position of Bradesco because company policy stipulates that the company president can’t be older than 65.
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According to company rules, Trabuco had until 2019 to find an adequate replacement. Trabuco himself first took the reins in 2009. He had been employed for Bradesco since the 60s, joining the team as a teenager. Through the next few decades through hard work and discipline, he rose through the ranks of the company. From early on he had his sights set on a top position. His entry into high-level leadership came in 1984 when he was made the bank’s Department Director. In 1999, he was made the president of Bradesco Seguros.
As its leader, Trabuco led this Bradesco subsidiary to become one of the top insurance companies in South America. This fact was instrumental in the board deciding to make Trabuco president of the entire company in 2009. All of the presidents of Bradesco throughout is history have led it based on the company motto: “Go forward.” It currently has almost 30 million customers which are services via its 5,000-plus branches. This massive body is serviced by over 100,000 employees.