The process of succession in Bradesco, one of the leading financial institutions in Brazil, is usually approached with due mettle and cautiousness. Typically, most of the names that had the privilege to assume the presidency never took part in the deliberation. That was the case with Marcio Cypriano, the current president, whose tenure had left little to be discussed when the Board sought after the successor of Lazaro Brandao, the present chair of the Board of Directors. The process was the same when Brandao was deemed an “underdog” in during the shortlisting of persons set to succeed the bank’s founder, Amador Aguilar.
However, the unexpected happened. The Vice President of Bradesco, Luiz Carlos Trabuco Cappi, took the helm of the bank, having been appointed as the president of Bradesco in 2009. The appointment came as the bank had conceded market leadership to the rival brand, Itau Unibanco.
Previously, Trabuco was the Chair of the bank’s insurance group, which apparently is the insurance market leader in the nation since 2003. His name has popped up in numerous discussions with financial experts and during the determination of Cypriano’s successor. However, he was a bit modest about his quest for the presidency: “Leadership is not an objective. Our unspoken mandate is to perform the best we can in the realm we serve.” Perhaps he said that when a tip leaked about his prospects of the seat in 2000.
Comparatively, Roger Agnelli, the president of Vale, the major shareholder in Bradesco, also seemed to harbor the potential to lead the bank. “At only 49 years, Agnelli is still “too young” to shoulder the responsibility. On the other token, Trabuco understands the working culture of the company, having served it for more than 38 years. Therefore, his capacity to lead as huge financial institution as Bradesco is rather evident,” explained Antonio Jacinto Matias, the Vice President of Itau Unibanco, the money market leader in Brazil.
Trabuco leads Bradesco purchase of HSBC (Brazil)
With an approval of Lazaro Brandao, Bradesco Board Chairman, he bought the HSBC’s Brazilian branch in 2015. The deal is reported to have usurped $ 5.2 billion. The acquisition is set to put Bradesco in the race to become a leader in the private markets. A simple addition of shares from Bradesco and HSBC triggers the outperformance of Itau Unibanco by Banco de Deus, in Osasco in three ways: networks, the number of clients holding accounts and the total returns on investment. “Our acquisition of HSBC will empower us to reach milestones we could have achieved in six years if we relied on organic growth,” said Trabuco in an interview with Money.
The venture to purchase HSBC led to his nomination, and subsequent recognition as the Entrepreneur of the Year in the Financial Markets. In fact, it is his positivism in market forecasting that Bradesco received the green light during the first quarter of 2016.
While serving as the President of Bradesco Capitalizacao, the Insurance arm of Bradesco, Trabuco led the company to become Brazil’s leading Insurance company. He received The Insurance Personality of the Year for the first time in 2003, Trabuco also claimed the highly coveted prize in 2007 for showing positivism in the future outlook of the insurance market. The executive has a vast experience in banking and insurance and is an adamant advocate for insurance policy sales through brokering systems.
Education and Early Career Life
Luiz Carlos Trabuco Cappi was born in Marilia in 1957. He endured early education, and later joined the University of Sao Paolo, where he earned a graduate degree in Philosophy, Letters, and Science.
He then got engaged in with professional work at the bank in 1969, and through his affiliation to Bradesco, he underwent the various hierarchal positions, though he ultimately became the president of Bradesco Seguros, the Insurance arm of the bank, which has up to date added a 30% profit to the financial institution.
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