The road is long with many winding turns. That is unless you follow the example set by Luiz Carlos Trabuco the 66-year-old CEO of Brazil’s second-largest bank based on both equity and assets. Mr. Trabuco has been an employee of the bank since he began his career at the age of 18 working as a clerk. Over the next four decades, he admirably worked his way up to the position of the bank’s number one employee, the boss. The path was long, yet it was straight. The CEO was prepared for his current job deliberately by his predecessors. Just as his successor indeed will have been groomed by him and the current generation of executives running the bank. It is the Bradesco way.
The Bradesco formula for executive leadership is a culture which emphasizes exposure to the bank’s various operations. You cannot be expected to operate such a vast corporate entity without first-hand knowledge of all of its bells and whistles, although formal education is also a prerequisite. Mr. Trabuco received his bachelor’s degree in Philosophy, Sciences, and Letters from the University of Sao Paulo before obtaining his Masters in Socio-Psychology from the School of Sociology and Politics Sao Paulo.
It was in 2009 after having held several executive level positions within Bradesco Bank’s family of subsidiaries that Luiz Carlos Trabuco got the top job. He became the 4th president to lead the group since the death of the bank’s founder, Amador Aguiar, in 1991.
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Even before becoming CEO, Trabuco had established his reputation for getting things done. It was he who arranged the offering of Bradesco shares on the New York Stock Exchange in the form of ADRs. During his tenure as president of the bank’s insurance business, Bradesco Seguros, that business flourished. It more than doubled in size. Going on to become a juggernaut in the Latin American insurance market.
So, it was no surprise to observers when Mr. Trabuco arranged the purchase of HSBC Brazil in 2015. It was Brazil’s largest business acquisition of the year and the most significant acquisition in the 72-year history of Bradesco Bank.
According to the bank’s bylaws, the maximum age of their CEO cannot exceed 65 years of age. However, due to the complexity of the HSBC deal, it was deemed prudent to extend Mr. Trabuco’s tenure to his 67th birthday.
Trabuco has confirmed recently that the bank’s next CEO will be selected by the board of directors in March of 2018, following the general shareholders meeting. Trabuco is now the chairman of the board of directors as well as the CEO until then, as the previous chairman, 91-year-old Lazaro de Mello voluntarily stepped down after 25 years as the chairman of the board of Bradesco Bank.
According to economia.estadao.com.br, Trabuco and his eight-member board of directors have a deep pool of experienced talent within the company from which they will choose their next CEO. The list of top contenders arranged by age includes:
• Andre Rodriguez Cano, 59-years-old executive in charge of human resources
• Mauricio Machado de Minas, 58-year-old executive who runs the IT department
• Domingo Figueiredo Abreu, 58-year-old executive responsible for the bank’s treasury and credit department
• Alexandre da Silva Gluher, 57-year-old executive in charge of risk management
• Josue Augusto Pancini, 57-year-old executive accountable for the bank’s branch network and high-income accounts
• Lazaro Octavio, 54-year-old in charge of the bank’s insurance unit
Together these executives represent 228 years of experience within the culture of Bradesco. If you consider that Mr. Trabuco got the call at age 57, the title can go to any one of them. We will soon have our answer.
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