The elevation of Luiz Carlos Trabuco Cappi as the Chairman of Bradesco Bank was one of the biggest stories of Brazilian banking sector in late 2017. It was already confirmed by then that the management and Cappi should find a new CEO, in place of him, by 2018 March. Since the elevation, he was holding both the roles until the new CEO is selected, but the management should have found a replacement by March 2018. The banking firm was in an extensive search to find a fitting candidate for the leadership role of the banking firm. Now, it is confirmed that Octavio de Lazari Junior would replace Cappi as the CEO.
Bradesco made the announcement on February 5, 2018, and the new CEO will take charge on March 12. Luiz Carlos Trabuco Cappi will continue the role as CEO until the Ordinary General Meeting of Director Board scheduled on March 12. Interestingly, Lazari, 54, is now serving the bank as the CEO of the Bradesco Seguros Group – the insurance division of the firm – and VP to Bradesco Bank. Per the latest information available, he will continue the leadership role at Bradesco Seguros Group. Interestingly, Lazari will also replace Trabuco in the in the executive board. Though Trabuco will leave the executive board, he would give direction to the firm as its Chairman.
The bank confirmed that the appointment of the new CEO is completed through the formal process of succession, and it was supported by the bank’s Succession and Appointment Committee. It further said that Lazari’s name would further be endorsed and approved by the Director Board of the bank during the meeting. According to the analysts, Lazari was not on the likes of succeeding the position of Luiz Carlos Trabuco Cappi, and a majority of the people expected Mauricio Minas, the VP of technology, in the leadership role.
Lazari started working for Bradesco at the age of 15 as an office boy via an agency, and after a few years, he became the agency manager. Since 1998, he started collaborating with the bank in the full-time role in credit area. He became a Director with the responsibilities of Retail, SME, and accounting for corporate segments. In 2010, Lazari became the department director of loans and finances, and two years later, he was inducted into the board of executive officers. Last year, he was promoted as the VP of the bank and an executive director.
While coming to Luiz Carlos Trabuco Cappi, he has over four decades of collaboration with Bradesco. At the age of 18, in 1969, he began his journey with the bank as a junior clerk and captured his space inside the organization with hard work, determination, and professionalism. Trabuco served many roles inside the bank and became the bank’s Departmental Director in 1984 and continued until 1992. In the later years, he served as the Managing Director of the bank and became its Vice President in the year 1999. Trabuco also served as the Executive Vice President of the bank before being promoted as the CEO of the banking firm in 2009.
As the CEO of the firm, he played a major role in a number of acquisitions that helped the company to capture the market share aggressively. The acquisition of HSBC services in the country was one of the biggest deals in the Brazilian banking industry in the recent decades. Trabuco also aggressively campaigned for the digitalization process of banking services and ensured that more than 50% of its customers using digital banking options by 2017. He was also inducted into the boards of steel major, ArcelorMittal Brasil S.A. Trabuco earned his post-graduation from School of Sociology and Politics of USP in Sociology.