The search for the successor of Luiz Carlos Trabuco Cappi, the current CEO of Banco Bradesco, is over. In an announcement made on Feb. 5, 2018, the Brazilian banking major announced that Octavio de Lazari Junior assume the executive leadership role of the firm from March 12, this year. The announcement made an end to more than four months of speculations regarding the expected names. Considering the market capitalization and market share of the banking firm in Brazil, every financial analyst and industry expert was eagerly waiting for the announcement, but the name surprised many.
Since Trabuco Cappi was appointed as the Chairman of the bank in October 2017, the bank management started its search for the new CEO. Per the banking regulations of Brazil, no executive can hold the offices of both Chairman and CEO of banks more than six months. Though Trabuco Cappi currently holds the role of CEO, he will hand over it to Lazari Junior on March 12, after the Board of Directors gives approval to the appointment of Lazari during its AGO meeting according to valor.com.br. Afterwards, Trabuco Cappi will continue to serve the bank by giving direction and vision to it as the Chairman of its Director Board.
While communicating the changes of management, the bank confirmed the personal merits of both the executives and praised their involvement in maintaining an international stature for the banking firm in the recent years according to economia.estadao.com.br. Lazari Junior who is aged at 54 is currently leading the insurance subsidiary of the bank, Bradesco Seguros Group, as its Chief Executive Officer. Though he assumes the new role in March, Lazari Junior will still hold the leadership of the insurance subsidiary. He earned his graduation in Economic Science from FEAS of Osasco and secured specialization in Marketing and Financial Strategies from FIA.
Read more: Bradesco anuncia substituto de Trabuco
While coming to the career of Lazari Junior, the journey started in 1978 as an office boy through an agency program. After few years, he became the agency manager. Since 1998, Lazari Junior started working in the credit department and became a director to corporate, SME, and retail segments of the business. In 2010, he was designated as the Department Director with responsibilities of Finances and Loans. Later, in 2017, he was moved to the insurance arm of the banking firm and appointed as its CEO. Lazari Junior is serving various governmental and professional industrial bodies such as ABECIP, Febraban, and more.
While coming to Luiz Carlos Trabuco Cappi, he was appointed as the CEO of the bank in the year 2009. He served various leadership roles in the bank and made numerous initiatives that changed the prospects of the firm in the recent years. Trabuco Cappi played phenomenal roles in many acquisitions that helped the company to expand its business share in the Brazilian banking market. He was behind the acquisition of the operations of HSBC in Brazil. Interestingly, Trabuco Cappi pushed the digital banking efforts of the bank with intensified campaigns. It helped the banking firm to ensure more than 50% of its customers start using digital banking options.