Bradesco, one of Brazil’s largest banking institutions, has recently announced that its outgoing Chief Executive Officer Luiz Carlos Trabuco will have his role taken over by the banks sitting Vice President Octavio De Lazari Junior. Bank officials have confirmed that Octavio has been approved through the bank’s formal process of succession with a full endorsement of the board. Luiz Carlos Trabuco will be stepping down in March at the time of the initial meeting of the Board of Directors at Bradesco. Trabuco had alluded to the fact that his successor was selected but he had not wanted to reveal the details at that time. Read this article about Trabuco at Estadao.
Bradesco is highly regarded as the second largest banking institution in the nation of Brazil. The institution has assets in the range of R $1.3 trillion and its portfolio of credit is in the range of R$493 billion. Though there were other several other highly qualified candidates in the mix to succeed Trabuco, in the end, it was decided that Octavio was indeed the man for the job. Trabuco has now continued in his role as CEO for two years past what he expected due to tragic circumstances that ended the life of his original successor Marco Antonio Rossi. When he died in a tragic plane crash the CEO stayed on while the situation could be worked out.
The outgoing CEO will be moving onto the role of Chairman of the Board, taking over for the outgoing chairman Lázaro de Mello Brandão. The legacy that the outgoing CEO leaves behind is a strong one and the future for Bradesco looks bright. Luiz started out with humble beginnings in the firm as a clerk and moved his way up the company ladder in Bradesco. He feels that the company is in good hands with the ascension of Octavio De Lazari Junior to the role of the banks Chief Executive Officer. Visit Wikipedia.org to know more about Trabuco.