Bradesco has a history of keeping its executive management team in place for long periods of time. Lázaro de Mello Brandão is a good example of how Bradesco thinks about its loyal employees. Former Chairman Brandão started his banking career with Bradesco in 1943. That’s when the small town bank opened in Osasco, Sao Paulo.
Luiz Carlos Trabuco is another loyal Bradesco executive. He started his career with the bank in 1969. And new CEO Octavio de Lazari started his banking career in 1978. Those three men are just a sampling of the Bradesco executives who don’t jump from one financial institution to another in Brazil. Brazil’s government is a revolving door when it’s compared to Brazil’s banking industry. In fact, some people say Brazilian banks protect themselves from government changes by diversifying. Trabuco and Lazari are good examples of how the banks in Brazil diversify. Both men served the bank as president of Seguros, the bank’s insurance division. Seguros is one of the bank’s main money makers.
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Brandão, Trabuco, and Lazari along with the other members of Bradesco’s management team put the bank in rare company in the banking industry. Bradesco has a massive ATM presence and at last count, the bank has more than 4,300 bank branches. Lazari vows to continue shrinking the number of bank branches in 2018, and he also wants to expand the bank’s online presence. Mr. Trabuco and Mr. Brandão along with Vice-President Mauricio Minas are responsible for giving Bradesco a head start in online and mobile banking in Brazil. Trabuco was instrumental in opening Next, the banks digital banking division. Brandão and Trabuco believe the future of Brazil’s banking industry is mobile banking. In fact, Brazilians are Internet junkies, according to some news reports. Brazilians would rather bank, shop, and surf the Internet with a mobile device.
Brazilian startups are threatening the banking industry in Brazil, but CEO Lazari and Chairman Trabuco know they have to keep closing branch locations and expand digital services to stay competitive in the banking industry. The bank has more than 100,000 employees and millions of customers and almost all of those employees and customers use a mobile device to do their banking.
Being a CEO of the second largest private bank in Brazil is a new experience for Octavio de Lazari. The shareholders confirmed his nomination at the March 12, 2018, annual meeting. Trabuco was CEO before Brandão decided to retire as chairman. But Mr. Brandão will still be around to help when needed, according to Lazari. And Lazari will need all the help he can get to keep the bank’s net income up so Wall Street investors have something to cheer about. For most of the last seven years, Trabuco did a great job making investors happy. It’s up to Lazari to be the face of the bank in 2018. He said he is ready to show investors he is cut from the same mold as Brandão and Trabuco.