Luiz Carlos Trabuco Cappi is the CEO and President of the Board of Directors of Banco Bradesco, the second largest private bank in Brazil. However, he will soon give up the position of CEO according to the bylaws of the bank to Octavio de Lazari.
Luiz Carlos Trabuco Cappi will transfer the position of CEO to the Vice President and President of Bradesco Seguros, Octavio de Lazari on March 12th. The first annual meeting of the board of directors with Luiz Carlos Trabuco Cappi as its president is scheduled to take place on March 12th in Sao Paulo.
The announcement to retire as CEO and take up the position came in October of last year when the previous President of the Board of Directors retired at the age of 91. Lazaro Bandao had been with the bank since he was 13 years old and served his entire life. He mentored Luiz Carlos Trabuco Cappi for his entire career and was pleased when the board selected him to be his successor. Another reason Luiz Carlos Trabuco Cappi has to retire is the fact that the bylaws state the maximum age for the CEO of Banco Bradesco can be no more than 67 years of age. This age limit was already increased and the by laws changed during Luiz Carlos Trabuco Cappi’s helm as CEO.
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In 2016, Banco Bradesco was undertaking its most lucrative and largest acquisitions in its history; which was the $5.2 billion take over of HSBC’s Brazilian unit. At this time Luiz Carlos Trabuco Cappi was about to retire as CEO and pass the position on to the President of Bradesco Seguros, which has been the tradition of the bank, but tragically the then President of Bradesco Seguros died in a plane crash. This tragedy made it difficult for Luiz Carlos Trabuco Cappi to retire.
The bank decided to extend the age limit of the CEO in order to facilitate a smooth transition period for the new CEO and the bank to settle its HSBC acquisition. The experience and excellent leadership qualities of Luiz Carlos Trabuco Cappi made it easy for the bank to merge its assets and become the 24th largest private bank in the world. It currently manages more than $390 billion in assets, hires more than 100,000 employees and operates over 5000 agencies in and around Latin America.
Luiz Carlos Trabuco Cappi earned his Bachelor’s degree in Philosophy, Science and Letters from the University of Sao Paulo and at the age of 18 started working at Banco Bradesco. He then earned his Master’s degree from the Foundation School of Sociology and Politics with a degree in Socio-Psychology. His education, work experience and raw talent saw him quickly rise through the ranks to the top position at the bank. His successor, Octavio de Lazari has also had the same career path as he too ascended through the ranks. This enabled both men to understand the ins and outs of the business making them excellent leaders, CEO’s and role models.