Chief Executive Officer Luiz Carlos Trabuco Cappi of Bradesco Bank announced that the bank would seek a new president of the Board of Directors internally from a member of the board of Bradesco. The change will be announced a month before the next shareholder meeting in March; no one has been chosen yet. Trabuco indicated that the person eventually chosen would have leadership ability. He holds the temporary position of president of the Board of Directors following the resignation of the 91-year-old Lázaro Brandão, who had been with the bank since he was 16 years old.
Bradesco is the second-largest private bank in Brazil. Established in 1943, the bank has more than 5,000 branches in Brazil and they have expanded, opening New York and Grand Cayman branches.
Luiz Carlos Trabuco Cappi – Education
A graduate of the Foundation School of Sociology and Politics in São Paulo and the University of Sao Paulo, Luiz Carlos Trabuco Cappi chose different majors than many of his peers. Instead of finance or business, he selected socio-psychology and philosophy.
Career and Associations
Born in 1951, Trabuco began his career with Bradeso in 1969 as a clerk and in 2009; he became the CEO. Starting out running errands to the bank while working in a department store, Trabuco decided he would prefer to work at the bank. Trabuco also serves as CEO of the bank’s other companies and as Chairman of the Board of Representatives and Executive Board of the National Confederation of Financial Institutions and he is a member of the Board of Directors of the Brazilian Federation of Banks. Trabuco’s previous associations include membership in the Brazil – United States Forum, member of the Board of the National Academy of Insurance and Pension Plans, president of the National Federation of Supplementary Health and president of the National Association of Private Pensions.http://www.camar.sp.gov.br/images/imagesnoticias/851/principal.html
Awards and Honors
In 2016, Forbes magazine included Luiz Carlos Trabuco Cappi on their list of the best CEOs in Brazil. In 2015, Isto É Dinheiro magazine named Trabuco Entrepreneur of the Year in the finance category after he initiated the purchase of HSBC bank. Trabuco was included on the list of the 100 Most Influential Brazilians of 2009 and he won the Don Quixote Trophy as well. Trabuco is a Meritorious Citizen of the Municipality of Marília, a title given by his hometown to honor Trabuco’s hard work.
Bradesco Bank has a mandate that a CEO must retire from the position at age 65; however, the bank raised the age limit to 67 in 2016 to allow Trabuco to remain CEO for two more years. With the pending acquisition of HSBC, the board felt that is was prudent to have Trabuco remain as the CEO. At age 57, Trabuco took over as CEO for Márcio Cypriano, who had turned 65.
Luiz Carlos Trabuco Cappi is highly influential in Brazil; in interviews, he acts professionally, dresses well and does not display any signs of his personal wealth. His discrete style is the same as that of the bank’s other executives