São Paulo bank, Banco Bradesco recently announced a new president to replace Luiz Carlos Trabuco. Octavio de Lazari Junior, who now heads Bradesco Seguros, will be replacing Luiz Carlos Trabuco as part of the executive board. Trabuco’s history with Bradesco was long-standing, spanning nearly 50 years.
Trabuco joined Bradesco in 1969. He became a company officer in 1984, and later became the Chief Executive Officer in 2009. Luiz Carlos Trabuco is also the Chairman of the Board of Directors of the National Confederation of Financial Institutions (Confederação Nacional das Instituições Financeiras).
Lazari Junior, 54, was one of the names floated to succeed Trabuco. He began working at the bank with 15 years as a branch of an agency in a popular shopping street in São Paulo. He abandoned his dream of being a soccer player to work in for the bank, at which his father was a patron.
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October marked the beginning of the process of succession, in the second largest private bank in the country. Lázaro de Mello Brandão resigned the chairmanship of the bank’s Board of Directors, while Trabuco ascended to the collegiate presidency. The bank expressed that the new president would be selected from the staff of the financial institution.
In the late 1990s, Lazari Junior began working in the credit sector, where he became director, in charge of the corporate, small/medium business and retail sectors. In 2010, he was promoted to department director, in charge of the Department of Loans and Financing according to g1.globo.com. Trabuco says that the decision on his successor took months of contemplation.
When asked about his successor, Trabuco stated, “Mr. Octavio’s appointment is backed by a formal process of succession and nomination, and duly endorsed by the Succession and Appointment Committee of the Organization.” The departure of Luiz Carlos Trabuco was delayed when the age limit for a CEO was changed from 65 to 67.