Bankers are a different business breed of businessmen in Brazil. Brazilian bankers know how to avoid economic downturns and government corruption. Brazilian banks make money in the good times and in the bad times. Luiz Carlos Trabuco proved that statement when Bradesco profit numbers came out in 2016 and in 2017. Bradesco may be number two in terms of assets under management, but in terms of producing record-breaking profit, Bradesco has few peers. Bradesco investors know Luiz Carlos Trabuco is responsible for the bank’s success. But investors know he doesn’t work alone. Ex-Chairman Lázaro de Mello Brandão is an important part of the Trabuco team even though Brandão was not as active as he was in years past.
At 91, Brandão earned the title the oldest banker on the planet according to g1.globo.com. Trabuco and Brandão are a good team, but it’s time for Brandão to step down. Brandão started banking in 1943, and Trabuco came on board in 1969. Both men have the tenure, and the banking knowledge to make Itaú executives stay up at night. Itaú is Brazil’s largest private bank, but Bradesco is Brazil’s most friendly bank when it comes to offering diverse banking services.
Breaking up the Brandão, Trabuco team makes some investors nervous. 2018 is going to be a crucial year for Brazil. New mobile banking services, as well as new credit opportunities, are important in the largest country in South America, so Trabuco, Brandão and the Board of Directors had to pick the right Trabuco successor from a pool of internal candidates. The seven candidates know what Trabuco wants the bank to accomplish in 2018, so picking one vice-president to replace Trabuco wasn’t an easy task. But after three months of debate and internal research, Octavio Lazari, Bradesco’s insurance vice-president got the job. Lazari will be the new CEO when shareholders vote on March 12th.
Octavio and Trabuco are from the same banking era. Lazari’s background is more financial than Trabuco’s, but both men know how to make money. And the important thing is they know how to make money together. Brandão won’t be around to clean up mistakes if they occur. But Mr. Trabuco is a master when it comes to team building and executive fluency in the main banking segments. As Chairman his job will be profit fluency along with executive proficiency. Lazari will take over as the front man for Bradesco, but he will still have Trabuco’s vice-president team to support him. Four members of that team will also be board members after the March 12th meeting according to valor.com.br.
Shareholders expect another record-breaking profit year in 2018, and they believe Trabuco, Lazari, and the executive team will keep the bank on track during the presidential election and the formation of a new government. Trabuco has a lot of experience dealing with government changes. Lazari also has what it takes in terms of financial talent and management effectiveness to keep Bradesco shareholders happy in 2018. In a world where Trump is changing the trade rules, anything can happen, but Trabuco and Lazari already have a profit plan that will work in spite of Trump’s trade war sword rattling.
Find more about Luiz Carlos Trabuco: http://economia.estadao.com.br/noticias/geral,bradesco-anuncia-substituto-de-luiz-trabuco-na-presidencia-do-banco,70002178384