Luiz Carlos Trabuco Cappi recently announced that he will be taking over as the chairman of Bradesco, one of the largest banks in Brazil. The announcement comes as Lazaro Brandao, the company’s current chairman, has stated that he will step down for good. Brandao, who is 93, has said that he is looking forward to spending more time with his family and giving younger executive talent the opportunity to climb through the ranks.
C-suite shakeup leaves doubts about next CEO
With Trabuco Cappi soon to vacate the role of CEO and be the next chairman, doubts have been raised about who will be tapped to take his place. Responsibility for appointing the next CEO will lie solely with Trabuco Cappi, who has stated that he has until March of this year to complete the selection process and that he intends to take his time. Trabuco Cappi views the selection process as being a crucial step in ensuring the continuity of good leadership at the bank, and he has affirmed his commitment to choosing the best candidate.
For a while, there was speculation that Trabuco Cappi would be willing to go outside of the bank to recruit the next CEO. This view was bolstered by Trabuco Cappi’s record of tough talk regarding the state of Brazilian business schools. He has stated on multiple occasions that the country was not producing enough high-quality executive talent, evidenced by the fact that some of the biggest companies in the country have often been forced to look outside Brazil for help in finding the best people to occupy the executive suite to the largest bank in Brazil.
This even led Trabuco Cappi and a number of other top business leaders to found one of the first schools dedicated to the education of executives, hoping to alleviate the lack of qualified business leadership in the country.
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But the rumors that he was considering parting from company tradition and hiring someone from outside the firm’s ranks were quickly dispelled. Luiz Carlos Trabuco Cappi himself stated that he had no intention of breaking with the unwritten corporate rule of only recruiting upper-level management from within. This leaves just seven possible candidates to take over at the bank. Who ultimately ends up being handed the reigns of the most important private financial institution in Brazil will have far-reaching implications not only for Bradesco but also for the country as a whole.
Those who closely follow the bank believe that there are two candidates who have a much higher chance of being selected as the next CEO than the others. The first is Alexandre Gluher, the bank’s chief risk officer. At 58, Gluher has spent the majority of his career with Bradesco, rising up through the ranks alongside Trabuco Cappi. He was instrumental in the risk stratification of all acquired assets from the 2015 acquisition of HSBC Brazil, a performance that has earned him a degree of respect above and beyond that of his peers.
But many experts are identifying one candidate, in particular, of being the most likely choice to succeed Trabuco Cappi as CEO. Mauricio Minas is the bank’s 57-year-old tech chief, a position in which he has excelled. Minas was behind the development of the wildly successful Next online banking platform, a system that proved so well-designed and heavily used that it was eventually spun off into its own company.
Minas was also responsible for the integration of all the tech assets of HSBC Brazil into the Bradesco system. But perhaps the most important advantage that Minas has over the other candidates is that Trabuco Cappi has always been a staunch advocate of technology. He has stated that the bank’s future will largely rely on its ability to stay ahead of the curve in the development of useful and cost-saving technology.
Learn more about Luiz Carlos Trabuco Cappi: http://economia.estadao.com.br/blogs/coluna-do-broad/bradesco-deve-anunciar-sucessor-de-trabuco-antes-do-carnaval/