Bradesco and Trabuco’s Legacy

     In March of this year, Ocavio Lazari became the new CEO of Brazil’s Bradesco Bank. Lazari began working for Bradesco in 1978 while still a teenager. age 54, has been serving as the president of Bradesco Seguros, the bank’s insurance branch. His predecessor, Luiz Carlos Trabuco Cappi, had also served as the president of Bradesco Seguros prior to becoming the bank’s CEO. In this top position, he is considered not only the greatest leader of Bradesco in its entire history but one of the best Brazilian business leaders ever.

Trabuco helped Bradesco rise to an average annual revenue of $70 billion. During the search for a new CEO, Octavio and the bank’s other six vice presidents were under consideration, with three of those in the decided lead having all three been with the company more than 20 years. The vice presidents had not been the only company leaders considered, however. Also under consideration were investor relations director, Alexandre Gluher; retail head, Josué Pancini; and IT executive Mauricio Minas. While Trabuco is vacating the CEO position, Trabuco has assumed the presidency of the company’s board of directors.

Bradesco was originally founded in the 1940s. For many years after that, it was the biggest bank in Brazil. That changed in 2009 after Banco Itau and Unibanco merged. Today it remains headquartered in Sao Paulo, operating 5,314 branches and 4,834 service branches. It also stands as the third largest bank in Brazil. Its services include Banking, insurance, pension plans, annuities, credit cards, and savings bonds. Bradesco’s reach is international with a branch in New York, two in Grand Cayman, and subsidiaries in London, Luxembourg, Hong Kong, Buenos Aires, Tokyo and Mexico.

Bradesco recently bought and absorbed Banco do Estado do Maranhão, Banco Mercantil de São Paulo, Banco Ibi S.A., and the Brazilian branches of Banco Bilbao Vizcaya Argentaria, J.P. Morgan Fleming Asset Management, and American Express HSBC Brasil. Bradesco stock is listed on both the New York Stock Exchange and Madrid Stock Exchange.

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