Luiz Carlos Trabuco Cappi Will Be Forced To Step Down As CEO As Extension Expires

Luiz Carlos Trabuco Cappi, the current CEO of Grupo Bradesco, is running down the clock on his time as the top banker at the firm. Having operated since 2015 on extensions that were personally signed by the chairman, at 67, Trabuco Cappi is two years past the mandatory retirement age of the bank.

He has been operating on waivers that were extended by the chairman and the board of directors due to his intricate knowledge of the HSBC Brazil acquisition deal, a transaction that has led to a two-year integration process of all the HSBC Brazil assets with those of Bradesco.

At the same time, the legendary banker Lazaro Brandao has announced that he, too, will retire in the next few weeks. The 91-year-old Brandao has been acting chairman of Grupo Bradesco since 1990, and he has overseen the most spectacular period of growth that the bank has ever undergone. Although some investors have voiced concern over the departure of Brandao, even as he rapidly approaches his 92nd birthday, Brandao himself has personally assured investors that Trabuco Cappi is the most qualified person in the world to replace him.

Read more: Lázaro Brandão será substituído por Trabuco no conselho do Bradesco

Who will Trabuco Cappi select as his replacement?

Rumors have been swirling about who will ultimately step up to the spot of CEO to replace Trabuco Cappi as he takes over in the role of chairman. Some have speculated that Trabuco Cappi may be looking at talent outside the bank for possible replacements. People close to Trabuco Cappi describe him as a die-hard adherent of meritocracy and that he will choose whoever the most capable candidate happens to be.

But Trabuco Cappi himself put those rumors to rest when he came out and explicitly stated that he will not be hiring anyone for CEO outside of the company. Trabuco Cappi stated that the bank’s long-standing tradition of only choosing the next CEO from within company ranks will be respected.

This has left a pool of just seven possible candidates. Although the decision process would appear to be complex, as Trabuco Cappi has said as much himself, experts have stated that there is really only one big favorite to end up as the next CEO. Mauricio Minas, the 57 year old chief information technology officer of the firm has been named as the likely successor to Trabuco Cappi. Minas has been responsible for the integration of all of HSBC Brazil’s technological assets into Bradesco. He is also the one who oversaw the creation of Next, an online banking platform that has proven so successful that it is in the process of being spun off into its own company.

Regardless of who Trabuco Cappi names to be the next CEO, he has until March of 2018 to make his decision. In the meantime, he will hold both the positions of CEO and chairman at the same time, the first time that such an arrangement has been permitted at the bank since Lazaro Brandao held both offices in the 90s.

Will Trabuco Cappi be able to fill the shoes of Brandao?

Trabuco Cappi will have a tough act to follow when he begins his duties as chairman of the board of directors. Following in the footsteps of a giant like Lazaro Brandao will not be easy. But Brandao himself has repeatedly assured investors that Trabuco Cappi is among the most qualified people on Earth to take over his position.

Trabuco Cappi has a long record of sagaciously guiding the business units under his command. There is every reason to believe that he will be able to perform well in the position of chairman.

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