Changes are coming at Bradesco. For the first years in decades, the Brazilian bank will experience its most significant change in leadership structure as high-performing CEO Luiz Carlos Trabuco Cappi will vacate his position. Luiz Carlos Trabuco Cappi was a few weeks ago selected to assume the position of board chairman that was previously held by Lazaro Brandao. Brandao resigned from the position in early October after serving in it for close to three decades to spend more time with his family. The process of selecting the new CEO is, however, will not be complete until early next year.
Undeniable Leadership Talents
The single reason Luiz Carlos Trabuco Cappi was selected to succeed Lazaro Brandao is his rich leadership skills according to istoedinheiro.com.br. That said, it will not be lost on everybody that Luiz Carlos Trabuco Cappi is taking over from the legendary Lazaro Brandao. Mr. Brandao is arguably the most important employee the bank has ever had as he worked there for more than seven decades. However, should people give Luiz Carlos Trabuco Cappi the chance, they will not be disappointed. Mr. Cappi is himself a long-serving employee of Bradesco, having been there for 48 years. He was also greatly mentored by Mr. Brandao and learned a lot from working under him. Mr. Brandao was, in fact, the one that recommended that Luiz Carlos Trabuco Cappi is appointed the vice chairman of the board in 2014. The three years Mr. Cappi sat on the board will serve as the perfect learning platform to base the next few years of his tenure off.
In the past eight years that he has been serving as the bank’s CEO, Luiz Carlos Trabuco Cappi has implemented some highly innovative strategies. Immediately after being named the CEO in 2009, he made the peculiar move of setting up a leadership university at the bank. Now, nearly nine years later, the investment of setting up this institution will be justified as the leadership pool from which the next CEO will be chosen will have passed through its doors. Another innovative and somewhat shrewd strategy that Luiz Carlos Trabuco Cappi implemented while serving as Bradesco CEO was engineering the takeover of HSBC Brazil in 2015. As a fairly stable mid-tier bank with the backing of multinational resources behind it, many did not think HSBC could be acquired by Bradesco. However, this did not dissuade Luiz Carlos Trabuco, and while the sale price was not low ($5.2 billion), the deal allowed the bank to grow in a day what it would have taken six years to accomplish using typical expansion strategies.
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Both Chairman and President
Bradesco is a large financial institution. Consequently, the bank cannot run without a CEO. Not only would this likely lead to disarray within the organization, but it would also cause jitters among customers and investors, thus putting a significant strain on the bank’s margins. However, with the bank’s regulations constricting the appointment of the next CEO to early next year, a replacement for Luiz Carlos Trabuco Cappi cannot be named. Consequently, the bank has decided that Luiz Carlos Trabuco Cappi will continue serving in the capacity that he has held for the last eight years. In other words, he will for the next few months be the CEO and chairman of Bradesco. Since his achievements over the last few years are well publicized and known, retaining Luiz Carlos Trabuco Cappi as the acting president will no doubt inspire confidence in the bank’s customers and investors. We can expect a very stable transition period at Bradesco in the coming months.
Find more about Luiz Carlos Trabuco Cappi: http://epocanegocios.globo.com/Empresa/noticia/2017/10/trabuco-o-importante-agora-e-olhar-para-os-desafios-do-futuro.html