Luiz Carlos Trabuco’s Many Roles At Bradesco

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.


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.

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Bradesco Is Converting Profit Reserves Into Stock, According To Chairman Luiz Carlos Trabuco

Bradesco shareholders have a big annual meeting in March. The annual meeting will produce a new CEO, new board members. Plus, every shareholder is going to receive one new share of stock for every ten shares they own if the plan to convert profit reserves into 610.9 million new shares of stock gets a thumbs up from the shareholders. The new common and preferred shares is a sign that Bradesco’s earnings in 2017 are way about the bank’s original forecast. That is good news for the Bradesco family of shareholders, but many of those people are also excited about voting for a new president and CEO at the same meeting. Plus three bank executives are also up for a board position.

The focus of the March 12th shareholders meeting will be the confirmation of Octavio Lazari as the new president and CEO of the bank. Mr. Lazari is the current vice-president in charge of overseeing the bank’s insurance arm, Banco Seguros. Seguros is one of the bank’s main revenue streams and Lazari gave that division the right leadership skills to break profit records. Lazari is a long-term Bradesco employee, but his role with Seguros is relativity new. But employees believe Lazari took the Seguros job in 2017 as a stepping stone to replace Luiz Carlos Trabuco. Trabuco is too old to be the bank’s CEO, according to the new age cap on the CEO position. At 67, Trabuco has a lot of banking years ahead of him, and that’s one reason he is taking over the chairmanship from Lázaro de Mello Brandão. Lázaro is 91. He is the only surviving member of the original Bradesco executive team. Brandão went to work for the bank in 1943 when founder Amador Aguiar was just getting started. Amador Aguiar and Lázaro de Mello Brandão are the men who gave Luiz Carlos Trabuco a job as a trainee in 1969.


Amador Aguiar and Lázaro de Mello Brandão both saw the potential in Trabuco forty-nine years ago, and Trabuco didn’t disappoint them. Mr. Trabuco was a standout banker right from the start even though he didn’t have the degrees’ bankers look for when they hire new people. But Trabuco had the brains, and the people skills to turn Bradesco into an international powerhouse when he took over as CEO in 2009. For the last eight years, Trabuco and his executive team gave domestic and foreign investors something to cheer about, even though Brazil was going through a recession that put the country in an emerging market tailspin. Trabuco and his team didn’t feel the economic pain as they cut an asset management course that gave the bank the number two position in terms of size. Bradesco also gets the number one position in terms of customer satisfaction.

Thanks to Trabuco leadership, the bank instigated several environmental and educational programs, and they are still going strong today. Trabuco and his team are also responsible for the bank’s online banking success. Bradesco has up-to-date online and mobile banking platforms in place, and those platforms are giving the investors a reason to celebrate. But even Bradesco is riding high and making a lot of money, there are issues that need attention. Octavio Lazari is the man who will lead the bank through the internal and external problems that plague the bank. One of those issues is keeping up with IT proficiency, and another is dealing with a huge number of underperforming bank branches. Thanks to the 2015 acquisition of HSBC’s Brazilian division, Bradesco has too many bank branches in some areas and none in other areas that are experiencing a lot of population growth.

But Lazari won’t be alone in the decision-making process. Trabuco and the board, as well as executives like Josué Augusto Pancini, Marcelo Noronha Domingos Figueiredo Abreu, Mauricio Machado de Minas, Andre Cano, and Alexandre da Silva Glüher, will still keep the bank functioning at a high level, in terms of reaching income projections and operational proficiency.

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