The Bradesco Organization in Sao Paulo, Brazil made the announcement of its new president after they completed the selection process in early 2018. Bradesco is the second largest private bank in Brazil. Mr. Octavio de Lazari Junior was selected and will be replacing Luis Carlos Trabuco. The nomination was done through a formal process of succession utilized by the organization, which takes a few months. Mr. Trabuco will however, continue on as chairman of the organization’s Board of Directors.
The selection process was started when the company’s chairman of their Board of Directors, Lázaro de Mello Brandão, resigned. Mr. Luis Carlos Trabuco was next in line for this position. There were seven vice presidents including Mr. Lazari Junior who were being considered, but he wasn’t a favorite. Most analysts were betting on Mauricio Minas who heads the technology department. Mr. Octavio de Lazari Junior’s previous position was executive vice president of Bradesco. He is also the CEO of the Bradesco Seguros Group, and will continue to perform the duties of this position.
Mr. Lazari gave a speech during the press conference that was held to announce his promotion. He spoke about taking on the challenge of continuing and renewing the legacy of the previous Chairman of the Board and President of the company. They were both in attendance by his side. During the press conference, representatives of Bradesco recognized Mr. Lazari’s accomplishments and expressed their confidence in his ability to maintain and surpass their current level of success in the financial industry.
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Octavio de Lazari Junior abandoned his dreams of playing professional football and started his career with Bradesco in 1978; working his way up to become a manager. In 1998 he moved to the credit department, where he was in charge of corporate and retail divisions. He was promoted to Director of the Department of Loans and Financing in 2010. He became a member of the Board of Executive Officers in 2012. In 2017, he became Executive Vice-President and Chief Executive Officer of the Bradesco Seguros Group. He also served as Chairman of the Board of Directors of the Brazilian Association of Real Estate Credit and Savings Entities, among other positions in the financial sector.
Mr. Lazari graduated from the Faculty of Economic and Administrative Sciences of Osasco with a degree in Economics. He also has specializations in Financial Strategies and Marketing from the Fundação Instituto de Administração, Financial Management from Fundação Getulio Vargas, and Strategies in Finance from Fundação Dom Cabral. In addition, he participated in the Advanced Management Program taught by IESE Business School – University of Navarra, in São Paulo.
The outgoing president, Mr. Luis Carlos Trabuco has held many positions within the Bradesco Group since starting his career with them in 1969. He’s achieved the positions of Chief Executive Officer, Chairman and President. He’s also held a variety of positions on the Boards of other organizations. These include Chairman of the Board of Representatives and President of the Board of Executive Officers for Confederação Nacional das Instituições Financeiras, President of Associação Nacional da Previdência Privada (National Association of Private Pensions), and President of the Council of Representatives and of the Board of Executive Officers of Confederação Nacional de Instituições Financeiras (National Confederation of Financial Institutions). He graduated from the University of Sao Paulo with a degree in philosophy and he did postgraduate studies in Social Psychology at Fundação Escola de Sociologia e Política de São Paulo.
The future of Bradesco looks bright, as they closed out 2017 with revenues of approximately $76.3 billion, a 6.8% increase from the previous year. They achieved their highest market share in years, which was 26%. Despite an optimistic view of the national economy, Lazari and Trabuco both emphasized the importance of pension reform in the coming years.