Luiz Carlos Trabuco Cappi Will Continue On As Chairman Of Bradesco

Big changes are coming to the executive suite of Bradesco, one of Brazil’s largest financial conglomerates. It has recently been announced by the firm that the long-serving chairman of the board, Lazaro Brandao, will be renouncing his position permanently. In his place will be appointed Luiz Carlos Trabuco Cappi, the current CEO of the firm.

This will mark the first time in 75 years that Brandao will no longer be reporting to work at the bank. First being hired on in 1943, at the age of just 16, Brandao is one of the longest-serving employees of any company in Brazil and may be the oldest chairman of the board of a major corporation anywhere in the world.

Over the course of his career, he has seen the bank go from a one-branch thrift institution in the small town of Marilia, Sao Paulo, to one of the dominant players in Latin American finance. Much of this ascent in the bank’s fortunes can be largely attributed to actions that Brandao himself took.

The veteran banker was first appointed as CEO in 1981. Over the next 18 years, he would lead the bank through some of its most noted periods of growth. Between 1990 and 1999, Brandao held both the position of chairman of the board and CEO, the only time in the bank’s history that one man has held both positions for longer than a trivial amount of time.


Between 1990 and 2009, with Brandao acting initially as both chairman and CEO, Bradesco’s market value increased by a factor of more than 300 times. This represents some of the most spectacular growth of any company in the history of Brazilian business. Many people have attributed this phenomenal growth directly to the leadership of Brandao himself. For this reason, it is unsurprising that, even as the chairman approached the age of 93, there are still many stakeholders who are made exceedingly nervous by his departure. They find it difficult to imagine what the bank’s future may look like without the old and steady hand of Brandao at the helm.

Brandao’s departure will open up the position of chairman to the bank’s current CEO, Luiz Carlos Trabuco Cappi. Trabuco Cappi himself is a long-time employee of the bank. First coming on board in 1969, at the age of 18, Trabuco Cappi has spent the entirety of his career with Bradesco. He has proven to be a key person in the rise of the bank. Like Brandao, many of the actions that Trabuco Cappi took over the course of his career can be directly credited for helping the bank transform from a small local concern into an international financial juggernaut.

During his time as the head of the financial planning division, Trabuco Cappi instituted a tiered banking system. Instead of treating all of the customers equally, regardless of their value to the bank, Trabuco Cappi opted to create a system where the top-value clients received the best possible service. The product line came to be known as Bradesco Prime, and it catered to the country’s many newfound high-net-worth individual clients.

By the mid-1990s, Trabuco Cappi had virtually cornered the market on high-net-worth clients, leading to tens of millions of dollars in new deposits. This allows the bank to generate hundreds of millions in new loans, materially contributing to the dramatically increased valuation of the firm.

Trabuco Cappi was also responsible for the sharp increase the bank enjoyed in retail insurance underwriting. He was largely responsible for elevating Bradesco Seguros to the number-one insurance underwriting operation in the country.

As Bradesco moves forward under Trabuco Cappi’s leadership, the future is looking as good as ever.

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