Recently, Bradesco Bank, the second largest lender in Brazil filled in the post of the CEO. The new CEO, Octavio de Lazari was tapped from among the internal candidates. The post was held on the temporary basis by Luiz Carlos Trabuco following the resignation of the former Chairman Mr. Lazaro Brandao. The name of the new CEO was announced one month before the annual general shareholders meeting that was held in March this year. During the meeting, the shareholders were subjected to a voting process to pass the name of the new boss of the bank. There were a lot of speculations before the announcement as there were seven candidates nominated to succeed Luiz Carlos Trabuco as the CEO of the bank.
Octavio de Lazari, the new CEO for the Bradesco bank joined the institution in 1978. Just like many other individuals in the company’s top leadership, Mr. Octavio started at the bottom and gradually rose through the ranks to occupy the position of the CEO of the bank. Before this appointment, Mr. Octavio de Lazari headed the insurance division of the bank.
Over the years, Bradesco Bank has upheld a tradition of choosing the top brass from among the internal candidates. They believe that an insider has a better understanding of the institution and therefore stands a better chance of propelling it to a bright future.
Since its inception about six decades ago, Bradesco Bank has had only three executives. In what is seen as a mythical dynasty, the company has been handing down the top leadership to employees who have worked in the bank for a long time. Some of these leaders such as Octavio de Lazari and Luiz Carlos Trabuco have immense experience working in different departments in the bank.
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For instance, Luiz Carlos Trabuco, the current chairman started working in the bank at a very young age. Luiz Carlos Trabuco, a graduate of socio-political science, started as an intern in the bank. Although Trabuco did not study any business related course, he worked hard and gained skills, something that impressed his superiors. Luiz portrayed outstanding leadership skills, which saw him rise through the ranks in the bank’s leadership.
Luiz Carlos Trabuco has worked in virtually every department of the bank. He once led a team in the marketing department that enabled the institution to register more members at a time when their competitors were struggling. Luiz Carlos played a significant role in the designing and marketing of various products that are currently offered by the bank.
However, Luiz Carlos Trabuco leadership skills were put to the test when he headed the insurance division of the bank. Luiz led his team to acquire a significant insurance market share in one of the most populated countries in the world. This significantly impacted on the company’s profits making it one of the most profitable lenders in the country.
As a result, investors and customers gained confidence in the bank and flocked in their numbers. When their competitors were showing Bradesco the doorway, Luiz Carlos Trabuco saved the day by leading one of the most significant deals in the Brazilian banking industry. Thus when Mr. Lazaro tabled his resignation, there wasn’t a better-suited candidate to fit in his shoes other than Luiz Carlos Trabuco