Banco Bradesco SA is arguably the leading financial institution in Brazil regarding retention of employees. Lazaro de Mello Brandao, who was the chairman of the board of directors of Bradesco until October 11, 2017, was an employee of Bradesco since the bank was established—in 1943. His successor, Luiz Carlos Trabuco, who is also the CEO of the bank, has worked at Bradesco for over 48 years.
A look at professionals thought to be in line to succeed Luiz Carlos Trabuco when he resigns as CEO soon reveals the same trend: Bradesco has a low turnover rate. Josué Augusto Pancini, 57, is in charge of Bradesco’s branch network, and the bank hired him in 1975. Alexandre da Silva Gluher, also 57, joined Bradesco a year after Pancini, and he is the go-to professional in matters risk analysis. André Rodrigues Cano, 59, is also thought a likely successor to Trabuco. Cano is the head of Bradesco’s human resources department. Although Bradesco appointed him to the position recently, he has been at the bank for over 40 years. Octavio de Lazaro is the president of Bradesco Seguros; an insurance subsidiary of Bradesco which Trabuco was the president before his appointment as the overall CEO of the bank in 2009. Lazaro joined the bank in 1978. Domingos Figueiredo Abreu became part of the Bradesco fraternity in 1981, and he is currently in charge of the bank’s treasury and lending departments. Marcelo de Araujo Noronha and Mauricio Machado de Minas were absorbed by Bradesco in 2003 and 2009 respectively. Noronha is a charge of Bradesco BBI while de Minas oversees the bank’s IT department.
But while Brandao served at Bradesco for over 74 years, and resigned as a high ranking staff, he was a mere clerk when he joined the bank. Also, he had not completed his fundamental studies, but that did not stop him from ascending the corporate ladder. When Amado Aguiar, the founder of Bradesco stepped down as president in 1981, Brandao was appointed as his successor according to globo.com. Brandao’s appointment came as a surprise to many as he was considered an underdog in the succession contest. Ten years later, Brandao was appointed the chairman of the bank, and for eight years, he was the chairman and the CEO of Bradesco. Marcio Cypriano relieved him of the presidency role in 1999, leaving him to concentrate fully on being the chairman of the bank.
During a press conference called in to cover Brandao’s resignation, the 91-year-old stated that he was proud of his career at the bank. Of course, his stay at the bank had been characterized by ups and downs. Case in point is the dethronement of Bradesco by Itaú Unibanco in 2009. Prior to 2009, Bradesco was the largest private bank. But in 2015, Bradesco almost regained its position as the leading private bank when it purchased the HSBC Holdings Plc.’s retail unit in Brazil for a whopping $5.2 billion. Brandao resignation was welcomed by his family and the entire bank as he had served Bradesco diligently.
Luiz Carlos Trabuco seems to be following in Brandao’s footsteps. Just like Brandao, he joined Bradesco as a clerk, and he is now holding both the positions that Brandao held between 1991 and 1999 according to brasil247.com. However, unlike Brandao, Trabuco is open to the idea of enriching Bradesco’s talent pool by bringing in leaders from other institutions. Also, Trabuco, unlike Amado Aguiar, was a proponent of segmentation. In fact, Bradesco has successfully implemented segmentation: preferential treatment of higher income clients. And unlike other banking executives of his time, Trabuco is not an economist, an accountant, or an engineer but he studied philosophy at Sao Paulo State University.
Learn more about Luiz Carlos Trabuco: http://www1.folha.uol.com.br/mercado/2017/10/1926043-lazaro-brandao-sera-substituido-por-trabuco-no-conselho-do-bradesco.shtml