Banco Bradesco Has A New President; Luiz Carlos Trabuco Introduces Octavio De Lazari Junior

The former president of Banco Bradesco Mr. Lazaro Brandao resigned in late 2017. In his letter of resignation, it was clear that the decision to step down was entirely voluntary. Well, interestingly, he chose his predecessor, and Luiz Carlos Trabuco was the perfect candidate for the job because of his experiences and input to the organization.

Background Information

Concurrently, CEO Luiz Carlos Trabuco confirmed that the next president would be elected from Bradesco’s management as per Brandao’s wishes. Alongside the traditions of the bank to uphold internal recruitment, the administration was more than convinced that the next leader would without a doubt come from the company. Now recently, Luiz Carlos Trabuco announced this new development; a new president to replace the former president, Brandao permanently.

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The New President

Bradesco’s board of directors recently approved the appointment of one Octavio de Lazari Junior as the new executive chair of the institution. He is replacing Luiz Carlos Trabuco who was temporarily replacing Brandao. Lazari is 54 years old and is currently serving as the vice president of Bradesco according to valor.com.br. In his additional role as the president, he shall be expected to fit into the shoes of Brandao’s realms of leadership. Because he started working at the bank at a relatively tender age that counts back to over a decade, it is clear that he is well-versed with the ropes of the business. Besides, he has strong academic credentials from the Faculty of Economic as well as Administrative Sciences of Osasco. Other than that, Octavio de Lazari has grasped the requirements of a leader within Bradesco, and his appointment was solely linked to his ethics and enthusiasm to serve his clients.

Changes and their Impacts

With this type of transition within the banking institution, it is clear that Bradesco will have to experience some changes. That explains why there have been multiple questions regarding the direction the bank is planning to take given this new appointment. Well, to answer this question, the management, under the leadership of Luiz Carlos Trabuco has insisted that shall maintaining internal recruitment and consulting with other executive leaders from time to time. It is fundamental to note that when Brandao was stepping down, he assured the company that he would still be available on the sidelines to offer insight.

Who is Luiz Carlos Trabuco?
Luiz Carlos Trabuco is a native of Brazil’s Marilla. He attended the Sao Paulo University and majored in philosophy, science as well as letters programs. From school, he landed an employment opportunity at the tender age of eighteen. Other sources have documented this age as seventeen. Whatever the differences, it is factual that Luiz Carlos Trabuco started working as a clerk at a tender age. This was unlike his peers who still enjoyed their childhood at the same period.

The Overview of Leadership

Working as a clerk in the busy banking halls, Luiz Carlos Trabuco registered impressive results to the extent of earning a promotion. That is how he started working his way up to the leading positions at Bradesco. At the same time, the board of directors observed him with the sole intention of promoting his often. All too often, Luiz Carlos Trabuco focused on expanding the service scope of the business. That is why he is described as the engine of Banco Bradesco.

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A New Era For Bradesco Bank Begins

Banco Bradesco was established in 1943 by Amador Aguiar. Aguiar also founded the Bradesco Foundation, which provides vocational and education to over 100,000 children and adults. The organization is now comprised of over 40 schools all over Brazil. The bank has extremely loyal employees who dedicate their lives to improving the bank and perfecting their professional and personal lives.

In October of 2017, Bradesco bank announced the retirement of one of these loyal and committed employees, Mr. Lazaro de Melo Bandao. Bandao has been with the company since its inception in 1942. He has been President of the Bradesco board of directors for 34 years, served the bank for 74 years and is going to celebrate his 92nd birthday this year.

The top position in the company will be passed to its current CEO Luiz Carlos Trabuco. However, Luiz Carlos Trabuco has reached the bank’s age limit for a CEO, which is 67 years old. In 2016, Bradesco changed its bylaws, which stated the maximum age for the CEO is 65. This was due to Bradesco bank’s acquisition of HSBC’s Brazilian unit was taking place. In March 2018, the new Chief Executive Officer will be chosen from the board of directors, which is comprised of 7 Vice Presidents. These individuals are highly qualified and include prominent banking figures including, Mauricio Machado de Minas, Alexandre da Silva Gluhar, Domingos Figueiredo Abreu, Josue Augusto Pancini, Marcelo de Arujo Noronha, Octavio de Lazari, and Andre Rodrgiues Cano. A majority of these executives have been with the bank for over 30 years.

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History of the Bank

Banco Bradesco is the first bank to introduce credit cards in Brazil. The banks traditions have always catered to the entire population of Brazil including the poor. Even if a segment was not the most profitable, but made the lives of its clients easier the bank continued the service. For example, at Bradesco, bank employees educate clients on every step in the banking process from depositing to even writing checks. The time, effort and attention to detail of every Bradesco client has led to it becoming one of the largest and most popular banks in Latin America. Luiz Carlos Trabuco maintains the culture of his predecessors in every aspect. He announced that his successor will be chosen using the banks usual process of promoting from within the company. This maintains loyalty and morale while ensuring the new CEO is well prepared and knowledgeable about the banks employees, clients and practices. The bank currently employs more than 100,000 individuals, manages over $60 billion in assets and is the second largest bank in Brazil.

Luiz Carlos Trabuco

Luiz Carlos Trabuco will take up the Presidency of the board of directors and mentor the new CEO. Luiz Carlos Trabuco was educated at the University of Sao Paulo where he earned his bachelor’s degree in Philosophy, Science and Letters. At the age of 18 he joined Bradesco and quickly ascended the ranks. In order to ascend even further he earned his masters in socio-psychology from the Foundation School of Sociology and Politics in Sao Paulo. In 2015, he was named “entrepreneur of the year” by Isto E’Dinheiro Magazine and in 2016 one of the best CEO’s in Brazil by Forbes Magazine. Luiz Carlos Trabuco’s incredible productivity and leadership qualities came from his ascension from within the company. He joined in 1969, and rose through the ranks from clerk to marketing director to CEO. He knows the ins and outs of Bradesco’s operations, employees and its clients. Today, Luiz Carlos Trabuco has ascended to the very top of the organization as President of the board of directors. He will be only the third man to reach the position in the banks 75-year history.

Find more about Luiz Carlos Trabuco: http://www.valor.com.br/financas/5153264/bradesco-novo-presidente-saira-do-corpo-executivo-afirma-trabuco

Ending Legal Entities Under Brazilian Law

Most people are familiar with the process of incorporating a new business, but at times, corporations cease to exist for the good of society. Under Brazilian law, there are several mechanisms that result in a legal entity ceasing to exist.

The first way that a legal entity can meet its end under Brazilian law is the obvious one. Legally, this is the conventional form of terminating a legal entity, and it simply means that the shareholders, partners, or co-owners have decided to end their partnership as provided by their corporate charter or as otherwise directed by law.

There is a second means to terminate the existence of a legal entity. Legal termination refers to a type of judicial dissolution whereby the corporate charter is rescinded or its social function has been exhausted. Legal dissolution takes place according to set provisions of the law, such as bankruptcy.

The last type is a court-ordered dissolution, which is a mix of the two previous types. This normally occurs when corporations deviate from the ends for which they were formed. There is also a legal distinction between dissolution and liquidation. In some cases, an entity’s assets will need to be liquidated before the dissolution is complete.

Ricardo Tosto is a preeminent member of the Sao Paulo Bar. After earning his LLB degree from one of the most prestigious law schools in the city, Ricardo Tosto developed his legal skills working for a large utility and serving as director of a private pension foundation.

In addition to being one of Sao Paulo’s most famous litigators, Ricardo Tosto has a wide range of legal and academic interests. He was a co-founder of Brazil’s Foundation for the Study of Election Law and belongs to several international professional organizations. He is also active in mentoring new legal talent.