Banco Bradesco is a big bank by any country’s standards. Bradesco has more than 5,300 branches and more than 4,800 service branches. There are more than 38,000 “Bradesco Express” units located in drugstores, supermarkets, department stores and in other retail location around the country.
Plus, Bradesco has more than 38,000 ATMs, and the bank is a pioneer in developing a biometric reading system. It’s not hard to understand why Bradesco is such a banking powerhouse in the largest country in Latin America. Founder Amador Aguiar built his bank in Osasco, a small city in the state of Sao Paulo in 1943, and the bank’s headquarters is still in that metropolitan area. While Aguiar was building his bank brand, he also built a management team, and part of that management team still has a reputation for making money.
Lázaro de Mello Brandão, one of the bankers who help start the bank, is responsible for putting the current management team together, and that team rivals any banking team in the country. Brandão’s management team has a secret weapon, according to the more than 100,000 Bradesco employees. That secret weapon is Luiz Carlos Trabuco Cappi, the man who is replacing Brandão. At 91, Mr. Brandão is ready to retire and enjoy life. And Cappi is stepping from the CEO’s office to the Chairman’s office to continue what Lázaro started. But make no mistake, Cappi has an impressive banking resume that stands on its own. Cappi joined the bank in 1969 and he started at the bottom. He isn’t a finance expert or an accountant. Cappi is a businessman who knows how to use psychology in his banking decisions. Cappi has a degree in philosophy and psychology.
Luiz Carlos Trabuco Cappi is responsible for the 2015 merger with HSBC’s Brazilian operation, and he is the man behind the bank’s digital banking platform. But he didn’t achieve all his banking success alone over the last 40 years. His management team is one of the best in the business, so when it came time to find his replacement, Cappi found one in the bank’s insurance division. Octavio de Lazari, the president of Seguros, is the new CEO of Bradesco. Cappi and Lazari know how to work together. Cappi was president of Seguros from 2003 to 2009, so both men have a similar banking resume. No one expects Lazari to go off script and develop a new banking mission. According to Cappi, Lazari will continue to close under-performing bank branches and expand digital banking services in 2018.
Bradesco is a top stock pick on Wall Street this year. The new management team might seem new to people who are not familiar with the internal structure of the bank. But it will be business as usual as Lazari takes over and Cappi focuses on his Board of Director duties. Most of Cappi’s team members are still on board. Four of those members were just elected to the board, so they will have additional responsibilities. And Cappi will continue to support Mr. Lazari as he faces the challenges that only banking in Brazil can produce.
Search more about Luiz Carlos Trabuco Cappi: https://oglobo.globo.com/economia/bradesco-anuncia-novo-presidente-octavio-de-lazari-junior-vai-substituir-luiz-carlos-trabuco-cappi-22365414#ixzz56wDld69g