Bradesco Bank recently announced that Luiz Carlos Trabuco Cappi would soon be leaving his post as the company’s president. He has spent the majority of his life serving the company, and he has already reached the age of retirement which is why he will be leaving his post soon.
Octavio de Lazaro Junior was chosen by the company’s board of directors to replace Luiz Carlos Trabuco Cappi, and he will start his new post starting in March 2018. Luiz Carlos Trabuco Cappi, on the other hand, will still be serving the company as the chairman of the board of directors until the company has chosen a new one.
Luiz Carlos Trabuco Cappi left so many legacies within the financial institution where he served since he was 17. By the time that he was chosen by the board of directors to serve as the company’s president, he initiated several changes that would change the company for the better. Bradesco Bank became more employee-centric, and under his leadership, new benefits have been given to the employees, and he ensured their protection. Luiz Carlos Trabuco Cappi was branded as one of the few presidents of the company which has rallied behind the creation of rules and regulations that would prioritize the benefits given to the employees. As a result, the employees loved his leadership, and they would contribute something for the company to succeed. Luiz Carlos Trabuco Cappi explained that the employees should be given the utmost care because the only time that they would be developing a lasting dedicating for the company’s success is when they feel that the company is giving them importance.
Another legacy that will be left behind by Luiz Carlos Trabuco Cappi is his decision to acquire HSBC Brazil and other smaller local banks scattered within the country. He is well aware that the merger between two of their greatest competitors in the industry has pushed their ranking down. He has been thinking about ways on how he could retrieve the position back to Bradesco Bank, and what he thought of was to acquire HSBC Brazil for $5.2 billion according to folha.uol.com.br. The negotiations spanned for months, and in the end, HSBC Brazil agreed to his proposals and the transaction went smooth. After the Bradesco Bank acquired HSBC Brazil, their value at the stock market rose, and many investors have poured down their investment in the newly reformed company.
However, CEO Luiz Carlos Trabuco Cappi did not stop there and invited other smaller banks to join Bradesco Bank. His strategy behind the concept was to acquire the most number of banks possible to increase the company’s asset and investors. He was successful in increasing the value of Bradesco Bank overtime, and it narrowed the gap between Bradesco Bank and its competitors. Unfortunately, he becomes older, and it is one of the rules of the company that anyone reaching the retirement age should mandatorily resign. On the other hand, Luiz Carlos Trabuco Cappi is putting his hopes on Octavio de Lazari Junior, knowing that he is a bright man who would be continuing his legacies as the new CEO.