Banco Bradesco was the largest private Brazilian bank until Unibanco and Itaú got together in 2009. But Bradesco’s size is still impressive. The bank’s net worth is $65.3 billion. There are more than 4,600 bank branches, and hundreds of partnerships with supermarkets, department stores, drug stores, and other retail establishments. Bradesco was one of the first Brazilian banks to use the ATM biometric system which reads the vascular pattern of hands. Customers are able to use more than 29,000 ATMs across the country without putting in a password thanks to the biometric hand-reading system. And Brazilians aren’t shy about using this ATM system.
The Bradesco ATM system is popular. The bank claims the system is so popular it has 462.5 million hits under its digital metal belt. And that figure is going up in 2018, according to CEO and the new Chairman, Luiz Carlos Trabuco on folha.uol.com.br. The current forecast is ATM banking will increase by 18 percent in 2018, so the bank is making plans to ensure quality ATM service. Bradesco’s operation chief, Josué Augusto Pancini is the man behind the ATM hand-reading system, and he is one of the seven candidates who could replace Luiz Carlos Trabuco. Luiz Carlos Trabuco has to give up the CEO position because he is too old for the job under current bank guidelines. Bradesco put an age cap on the position, and Trabuco will exceed that 67-year-old cap in 2018. But Luiz is not going anywhere. Thanks to Lázaro de Mello Brandão, Trabuco is now the new chairman of the bank’s Board of Directors. Lázaro de Mello Brandão is the man who gave Bradesco a firm hold on the private Brazilian banking market, but at 91-years-old, he’s ready to turn the keys over to Trabuco.
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But Lázaro de Mello Brandão doesn’t get all the credit for Bradesco’s success over the last 40 years. Luiz Carlos Trabuco is the face of the bank, and he is the banker that Wall Street likes and promotes. According to valor.com.br, the bank’s stock is currently trading at more than $9.80 a share, and Wall Street believes the value of Bradesco stock could jump well over the 2017 high of more than $11.50 a share in 2018. But in order to meet Wall Street expectations, Trabuco needs a strong team, and he believes one of the seven candidates will be able to continue what he started. The seven men in the running for the CEO position are operations chief, Josué Augusto Pancini, IT Vice-President Mauricio Machado de Minas, investment Vice-President, Marcelo Noronha, Domingos Figueiredo Abreu, the current Vice-President of the bank’s loan division, and the current President of Banco Seguros, Octavio de Lazari. Human Resource Vice-President Andre Cano, and the man who helped Trabuco put the HSBC acquisition together in 2015, Alexandre da Silva Glüher is in the hunt for the big job. All seven men met current bank standards. But doing what Trabuco does as CEO is not going to be easy.
Mr. Trabuco is well-known in the international banking industry because of his management and banking style. He’s been around the bank since 1969, and he is familiar with every bank position. But starting as a bank trainee wasn’t his first choice. Trabuco has a philosophy degree from the Sao Paulo University, and he did psychology graduate work before joining the bank. He was president of Banco Seguros for six years, and he has nine years of CEO experience. Some bank officials say taking over for Lázaro de Mello Brandão will be a piece of cake for Trabuco because of his close working relationship with Brandão. Trabuco is only the third Chairman in the bank’s history. Brandão will still have a desk, and a say-so when Trabuco officially takes over at the March 2018 shareholders meeting.
Learn more about Luiz Carlos Trabuco: http://www1.folha.uol.com.br/mercado/2017/10/1926043-lazaro-brandao-sera-substituido-por-trabuco-no-conselho-do-bradesco.shtml