It has been recently announced that major changes are slated to take place throughout the upper management of Bradesco, one of the largest banks in Brazil. The current CEO, Luiz Carlos Trabuco Cappi, will be stepping down in order to replace the outgoing chairman, Lazaro Brandao in the latter’s position. Trabuco Cappi will have until March of 2018 to name his successor, a task that he has ensured shareholders that he will take with the utmost seriousness, taking as much time as necessary to appoint the right person for the job.
Who will be the next CEO, and what will it mean?
At first, there were a number of rumors emanating from within the firm that Trabuco Cappi would go outside of the firm in recruiting the next CEO. This seemed to be a plausible claim, as Trabuco Cappi himself has become known as a staunch advocate of meritocratic promotions. He has the reputation of someone who generally doesn’t care for credentials, seniority or anything else not directly related to how well a candidate can be objectively said to be at their job. In fact, Trabuco Cappi was personally responsible for the establishment of a school for CEOs, the first in the country, as a means to increase the amount of high-level human capital available to Brazilian corporations. Some observers hypothesized that Trabuco Cappi may go to the ranks of the graduates of his own school in order to select his replacement.
But he put these ideas to rest, explicitly stating that he would not part with company tradition, which has long held that CEOs are to be promoted from within the ranks of current junior executive management.
This would seem to indicate that there are approximately seven viable candidates for the job. Since Trabuco Cappi himself has stated, in so many words, that he will be promoting the next CEO from within the ranks of the company’s current vice presidents, this would narrow the contest to become the next CEO down to just a few names according to Bloomberg.com. However, most people familiar with the process say that there are really only two serious candidates in the running.
The first is Alexandre Gluher. The 58 year old chief risk officer for the firm has spent nearly his entire career there. This gives him a huge seniority advantage over his other peers. Gluher also has a long track record of stellar service for the firm. He was able to keep the bank’s risk in check throughout a painful period of downsizing and economic contractions throughout the 2010s, a role that has been acknowledged as crucial to keeping the company afloat. Gluher also oversaw the valuation and risk assessment of all of the assets acquired by Bradesco in the HSBC Brazil purchase. This was an enormous task that has now been completed, giving Gluher another rung on which to hang his already impressive collection of hats.
But some close to the process say that Gluher’s main strength is his seniority. They note that Trabuco Cappi himself has stated many times that seniority is not a factor that he looks closely at. While many may consider this a sort of age discrimination, it is worth noting that laws against such behaviors are far more lax in Brazil than elsewhere.
This leaves the 57 year old chief technology officer of the bank, Mauricio Minas, as the most likely candidate to be appointed as the next CEO. Minas oversaw the creation of the Next online banking platform as well as handling the integration of all of HSBC Brazil’s tech assets into the Bradesco systems. He is said to be a great favorite of Trabuco Cappi.
Check https://www.youtube.com/watch?v=3xDktJglYEQ for more details about Luiz Carlos Trabuco Cappi.