Octavio de Lazari Junior Is The New Proposal To Replace Luiz Carlos Trabuco At Bradesco

Mr. Luiz Carlos Trabuco has been the Chief Executive Officer of Banco Bradesco S.A. since March 10, 2009 until Banco Bradesco announced on February 5, 2018 that Octavio de Lazari Junior would be replacing him as CEO of the well renowned bank.

Mr. Luiz Carlos Trabuco started his professional career at Bradesco on April 17, 1969 where he served as President of Bradesco Vida e Previdência SA until the year 1998. In addition, Mr. Trabuco has been the President and Director of Odontoprev SA since December 23, 2009.

In a conversation with the press, Luiz Carlos Trabuco explained that the process of his successor had a specific calendar, and would conclude in March with the AGO. He did not, however, wanted to give more details on the subject. “We have a timetable before the assembly to propose the board of the council,” he summarized at the time.

The expectation, as anticipated a Broadcast Column on January 16, 2018 was that the name of the next president of Bradesco be released before the carnival. During interviews in Davos, Luiz Carlos Trabuco confirmed the date and mentioned February 10 as the deadline.

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Octavio de Lazari Junior will lead the country’s second largest private bank, with about $1.3 trillion in assets and a credit portfolio of almost $493 billion at the end of December, 2017. He assumes the chairmanship of the past bank the worst crisis that the Brazilian financial system faced amid the deterioration of asset quality and at a time that Bradesco still captures cost synergies and mainly gains with HSBC, the largest acquisition in history of the institution.

The departure of Luiz Carlos Trabuco as CEO from Bradesco’s command was delayed with the extension of the age limit to exercise the position of CEO, which went from less than 65 to less than 67 years in September, 2016. It would have been heavy at the time, beyond integration of HSBC, the tragic death of the chief executive’s successor candidate, Marco Antonio Rossi, then vice president of the bank and president of Bradesco Seguros, in a plane crash. However, the choice of the substitute for Trabuco was anticipated with the resignation of Brandão from the bank’s board last October, as the executive could remain in the presidency of the institution until 2019.

According to estadao.com.br Bradesco also informed that the names of Domingos Figueiredo de Abreu, Alexandre da Silva Glüher, Josué Augusto Pancini and Maurício Machado de Minas, current Executive Vice-Presidents, will be submitted for the shareholders’ from the bank.

Learn more about Luiz Carlos Trabuco: http://www.valor.com.br/financas/5306443/bradesco-anuncia-octavio-lazari-no-lugar-de-luiz-carlos-trabuco

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