Octavio de Lazari Junior was chosen by Bradesco to replace Luiz Carlos Trabuco Cappi as President of Banco Bradesco. De Lazari Junior will formally assume office on March 12, 2013. Luiz Carlos Trabuco will hold his position as Chairman of the Board until the date mentioned above.
Bradesco commented that the extension of Luiz Carlos Trabuco’s command was due to the age limit allowance, which was 65 years or less before it became 67 years or less in September 2016 according to valor.com.br. Likewise, the transition of authority would have not been practical at that time because of Marco Antonio Rossi’s death. He was the supposed successor as Chief Executive Officer and the resignation of Lazaro Brandao.
Octavio De Lazari Junior at present is Bradesco Seguros Group’s Chief Executive Officer, and is similarly the Executive Vice President of Banco Bradesco.
There were other candidates who were also considered for the Presidential seat at Banco Bradesco and they are Vice President Andre Cano – Human Resources Department, Vice President Marcelo Noronha – Cards and Investment, Vice President Josue Pancini – Agency Network Head, Vice President Alexander Gluher – Investors Relations, and Vice President Mauricio Minas – Technology Department.
Luiz Carlos Trabuco started his professional career with Bradesco in 1969 and devoted majority of his employment life to the company. He advanced through the ranks and held many executive positions over the years before becoming the President of Banco Bradesco. In 1984 he became a Department Director, in 1998 he was appointed as a Managing Officer, then he moved on to become an Executive Vice President in 1999 until he was assigned as President in 2009.
Being a result-oriented leader, Luiz Carlos Trabuco took a significant chance when he initiated the purchase of HSBC Brasil in 2009. His proposal was approved by Lazaro Brandao who was the Chief Executive Officer of the bank at that time. The procurement of HSBC Brasil was prompted by the merger of Unibanco with Banco Itau resulting in a big loss in the market share of Banco Bradesco.
The acquisition of HSBC Brasil was considered as one of the costly acquisitions at that time in the banking industry of Brazil. However, the speculative chance that Luiz Carlos Trabuco took paid off since Bradesco gained back its market share and tripled it, making it the second biggest banking institution in the country.
Luiz Carlos Trabuco’s management style is entirely different from other leaders because he decentralized the decision-making authority of branch heads. He gives the branch managers enough leeway to make decisions without too much intrusion from the head office according to g1.globo.com. This scheme makes the branch managers more responsible and motivated. Luiz Carlos Trabuco also introduced a management platform where all executives an work together making supervision easier while encouraging teamwork.
Octavio de Lazari Junior’s assumption of his new duties at Bradesco conforms to the traditional pattern of succession within the organization where deserving executives are promoted without the need to hire new talents outside the company.
Luiz Carlos Trabuco will concentrate on fulfilling his duties as the Chairman of the Board of Directors and will serve as the CEO until the council’s first meeting this March 2018.
Find more about Luiz Carlos Trabuco: http://economia.estadao.com.br/noticias/geral,bradesco-anuncia-substituto-de-luiz-trabuco-na-presidencia-do-banco,70002178384