Brazil’s Central Bank is giving Brazilians a brighter economic outlook thanks to the one percent GDP growth in 2017, and the 2.7 percent projected GDP growth in 2018. If those figures materialize, Brazil’s emerging market growth will equal the economic growth in the United States.
Predicting economic growth in Brazil was out of the question two years ago, thanks to a recession that gave Brazil a black eye in the investment sector, according to Banco Bradesco’s new chairman, Luiz Carlos Trabuco Cappi. Cappi is not a newcomer to the Bradesco family. He’s been a permanent fixture in Bradesco’s Sao Paulo headquarters for the last 39 years. Cappi is the third chairman in the bank’s history, thanks to his stellar performance as the bank’s CEO for the last eight years. The interesting part of the Luiz Carlos Trabuco Cappi story is he’s not a typical banker. He didn’t study accounting or finance at the University of Sao Paulo. He was a philosophy major, and he later got a graduate’s degree in psychology.
Read more: Bradesco to choose board member as new president, says Trabuco
But Trabuco Cappi saw an opportunity when he sat in front of founder Amador Aguiar, and CEO Lázaro de Mello Brandão in 1969. Both men were turning the small Marilia bank into Brazilian banking powerhouse, and they saw potential in Cappi. The rest of the Cappi story is well-publicized. He went from director to vice-president then president of the insurance division, Seguros in 2003, and at the end of 2009, Lázaro de Mello Brandão gave him the keys to the bank’s president and CEO office. And Cappi didn’t disappoint Brandão. Lázaro is one of Brazil’s top bankers, and he is the oldest bank chairman on record. In fact, Lázaro holds the oldest bank chairman in the world title. But Mr. Brandão is ready to get out of the banking spotlight. The six-member Board of Directors gave Luiz Carlos Trabuco Cappi Brandão’s job a couple of months ago. Cappi is now the CEO and the Chairman of the second biggest lending and investment institution in Brazil.
To say Bradesco is on a positive roll in the banking sector is an understatement. Brandão is leaving the bank at a monumental time. Investors are jumping on the bank’s stock because it could be the best investment opportunity in 2018, according to some financial analysts. Wall Street investors are anxiously awaiting the Bradesco’s new CEO announcement next month. The new CEO will take over from Cappi after the March shareholders meeting. Bradesco’s Board of Directors is not looking at candidates from other banks. The new CEO will come from the list of seven candidates that currently hold executive positions in the Bradesco organization.
The seven candidates have years of experience working with Cappi, so the internal momentum will not miss a beat once the new CEO is in place according to folha.uol.com.br. All the men know the bank’s mission and all of them are a part of the bank’s current success. No one in the Bradesco organization is publically picking a winner, but bank employees think there are one or two candidates that have the inside track. Those candidates could fill the position without missing a beat in terms of profit projections and the expansion of assets under management, according to some investors. Those two candidates are Alexandre Glüher, the bank’s risk manager and deal maker, and IT wiz, Mauricio Machado de Minas. Mauricio is responsible for setting up the bank’s digital spin-off.
But no one is ruling out the five other candidates. And for good reason. Octavio de Lazari heads up the bank’s insurance arm. Josué Augusto Pancini is the man who oversees more than 5,300 bank branches. Andre Cano, the human resource manager, is a long-time Bradesco employee, and lending specialist Domingos Figueiredo Abreu is an astute and knowledgeable employee. Marcelo Noronha may be the dark horse candidate, but his investment expertise may be the thing that puts him in the CEO’s seat in March.
Learn more bout Luiz Carlos Trabuco Cappi: http://www.valor.com.br/financas/5194121/trabuco-apesar-das-incertezas-investidores-acreditam-no-pais