Brazilian bank Banco Bradesco is in search of a new president. The bank’s current president, Luiz Carlos Trabuco is expected to vacate the position having accepted the promotion to serve as the chair of the board of directors. Mr. Trabuco is taking over from Lazaro Brandao. It is hoped Luiz Carlos Trabuco and the incoming president will develop a leadership partnership as strong as the one the bank previously had with Lazaro Brandao as chairman and Mr. Trabuco as president.
The Succession Process
The responsibility of selecting the new president will fall on the Luiz Carlos Trabuco-led board of directors. The caveat, however, is that the announcement cannot be made until March 2018, when the bank’s next shareholders’ meeting is scheduled. For the next few months, therefore, Luiz Carlos Trabuco will continue acting as the bank’s president, even while fulfilling his mandate as chairman.
While commenting on the succession process, Luiz Carlos Trabuco has states that the next president will come from within the bank. This will be the continuation of a long-held tradition at Bradesco of making senior leadership appointments by promoting talents within the bank as opposed to scouting for external talent according to valor.com.br. Therefore, one can speculate with a fair amount of certainty that the next president is one of the current vice presidents at the bank. A look through each of these vice presidents’ track records while at the lender shows that they are all capable leaders and Bradesco will continue being in good hands for the near future.
Different President, Same Mandate
The new president will very much be expected to continue building on the work of his predecessor, Luiz Carlos Trabuco. Bradesco has thus far had three presidents since the death of its founder Amador Aguiar. Each of these presidents has been committed to primary objectives that Aguiar had while founding the bank. That is, to help communities grow while still expanding the bank. Equally, the incoming president will be expected to continue expanding the large lender. Sustained growth is one of the things that define Bradesco; it is part of the bank’s culture. It is for this reason that Bradesco has completed about 50 takeovers since it was founded 74 years.
Fortunately, for the incoming president, some internal and external factors show that his/her tenure could be highly successful. This time the president will not be a member of the bank’s board. Consequently, the load of responsibilities placed on the incoming president will considerably be lighter than that of the predecessor, Luiz Carlos Trabuco who has been serving as the vice chairman of the board for the last three years. Additionally, the Brazilian economy is faring a lot better today than it was a year ago. Going by the forecasted trend, the business environment in Brazil will be highly conducive going forward. As such, it will be a lot easier for the incoming president to devise innovative strategies to help the bank considerably expand its margins.
A Different Looking Board
In addition to having a new chairman, the Bradesco board is expected to change in structure in the coming weeks significantly. Until now, the bank has been ably served by an eight-member board on economia.estadao.com.br. The board is made up of business executives and representatives from the founder Amador Aguiar’s family. Owing to the sustained growth of the bank, coupled with an ever-changing business environment, senior leaders within the bank are now considering expanding the board. Having a bigger membership will allow for the introduction of new ideas and perspectives on how the bank can grow, while at the same time helping Bradesco avoid the challenges associated with gigantism.
For more information about Luiz Carlos Trabuco, just click here.