Few people in the world ever make it to the age of 92. Even fewer manage to stay among the most productive and relevant people in their country at such an advanced age. But this is an accurate description of Lazaro Brandao, the 92-year-old chairman of the board of Grupo Bradesco, one of the largest banking conglomerates in the country.
Brandao first came to work for the firm at the height of World War II, when he was just 16 years old. Between the year 1943 and the present, Brandao has racked up an astonished 75-year career with the firm, participating in and forming an integral part of some of the most important and transformative moments in the bank’s history.
It has been Brandao’s sagacious leadership that has given him the reputation of being a sort of spiritual head of the bank. Even as the elder financier approaches his 93rd birthday, many of the company’s most prominent stakeholders have expressed grave reservations about his impending departure. Some feel that the current chairman should continue on as long as his health will permit. These stakeholders simply cannot imagine what the bank’s future might look like without the steady and remarkable profitable hand of Brandao to guide its tiller.
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But Brandao has made clear that, this time, his retirement will be final and non-negotiable. He has appointed the bank’s currently acting CEO, Luiz Carlos Trabuco, to take over his position. Brandao has expressed the highest respect and admiration for Trabuco, who has been with the bank an impressive 48 years. Like Brandao, Trabuco first came to work for the bank at a very young age. Also like Brandao, he stayed on board with the firm through the period of its greatest expansion.
Between the years of 1984 and 2009, Trabuco held a number of executive positions with the firm. During this period, Trabuco was able to materially contribute to the good fortunes of Bradesco, which augmented its stock value by a factor of more than 300 times between 1990 and 2009.
As the head of the bank’s marketing and public relations department, Trabuco was instrumental in making changes that had a lasting positive effect on the bank’s brand and public image. Shortly thereafter, he was appointed to lead the firm’s financial planning division.
As head of the financial planning unit, Trabuco was able to take a flagging business line and turn it into one of the bank’s profit centers on valor.com.br. Through the implementation of a new strategy that went after rich clients, Trabuco was able to increase the amount of money on deposit with the bank by tens of millions of dollars. The resulted in the dramatic expansion of the bank’s loan portfolio and, with it, the bank’s profits. Trabuco’s ability to attract valuable clients to the bank was among the key factors in its incredible expansion throughout the 90s and 2000s.
Now, Trabuco is facing the final curtain on his operational reign over the company. As he transitions into the role of chairman, it is likely that he will still have considerable sway over establishing the broad strategic vision for the company. But it is unlikely that he will be involved in the day-to-day operational decisions with which he has proven himself to be such a capable executive over 30-plus years.
But the systems that Trabuco created will remain in place. As is the case with many great companies, the hard work that laid the profitable foundation of Bradesco’s success is already largely in place. Trabuco will be overseeing the work that he himself and Lazaro Brandao spent a lifetime achieving. Their work will live on in a strong and prosperous bank.
Find more about Luiz Carlos Trabuco: https://www.brasil247.com/pt/247/economia/321809/Trabuco-assumirá-presidência-do-conselho-do-Bradesco.htm