Luiz Carlos Trabuco Cappi, the current President of Bradesco revealed details on the current reorganization of the Executive Board in the coming months. With the announcement of the resignation of Lazaro Brandao as Chairman of the Board.
Luiz Carlos Trabuco Cappi will become the new Chairman, and the process of selecting the next president was underway. Bradesco recently acquired HSBC in 2015, so Lazaro Brandao extended the age limit from 65 years to 67 years, in order to allow more time to continue the absorption of HSBC under the current leadership.
Octavio de Lazari Junior, was choose of the seven vice presidents on the board revealed Luiz Carlos Trabuco Cappi. Octavio de Lazari Junior has been with Bradesco since 1978. An alumnus of the Faculty of Economics and Administrative Sciences of Osasco, where he received his Graduates degree, Octavio de Lazari Junior also has a specialization in Financial Strategies and Marketing from Fundacao Instituto de Administracao. Octavio de Lazari Junior was an Agency Manager and the Director of the Credit. During Octavio de Lazari Junior’s time as director he refocused on small and medium sized companies. In 2012 Octavio de Lazari Junior was appointed to the Board of Directors Officers, and in 2017 he would be named Executive Officer Vice President and Chief Executive Officer of Bradesco Seguros Group.
Luiz Carlos Trabuco Cappi was named Entrepreneur of the year in 2015 for the $5.2 billion deal to acquire HSBC, a deal that Lazaro Brandao approved. Luiz Carlos Trabuco Cappi also named Carlos Alberto Rodrigues as the new vice president now that Octavio de Lazari Junior has been named as the new President. During the Ordinary General Meeting (AGO) scheduled for March 12th 2018 the new president and vice president will officially take office. Until the March meeting Luiz Carlos Trabuco Cappi will be both President and Chairman of the Board.
Luiz Carlos Trabuco Cappi discussed his full confidence in the decision of electing Octavio de Lazari Junior as the new president, but go on to reveal some challenges ahead for him. Mr. Luiz Carlos Trabuco Cappi getting more of the customer base to utilize digital banking is a challenge. Currently 14 million of the 27 billion customers are using digital tool for banking. Luiz Carlos Trabuco Cappi shared his optimisms in the recent news of Brazils GDP growth last year, and views this as good news for the future of credit in the market. Lazaro Brandao however noted there is a need for labor reform to truly improve the current economic issues Brazil has been facing over the past. Mr. Brandao also noted the lack political unity as a detriment to the economic climate in Brazil.
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