When Lazaro de Melo Brandao held a press conference on October 11, 2017, he shocked both his coworkers and analysts as he resigned from his position. The 91-year-old had been with Banco Bradesco for an unbelievable 75 consecutive years! Experts believed that, at the time Mr. Lazaro de Melo Brandao had stepped down from his role, he was the oldest fully-fledged banking executive across the world.
During that October 2017 press briefing, he made clear that Luiz Carlos Trabuco Cappi would replace him as the Chairman of the Board of Directors. Further, somebody had to fill the role of Chief Executive Officer since Luiz Carlos Trabuco Cappi was slated to move to Chairman of the Board of Directors of Banco Bradesco. However, even though employees aren’t supposed to serve as Chief Executive Officer and Chairman of the Board of Directors because someone in such untethered, unchecked power could effectively get off the road.
Luiz Carlos Trabuco Cappi didn’t have to worry about the doubly-great allowance of power for too long, as his nine-year stint with Banco Bradesco in the capacity of Chief Executive Officer was cut short because the bank knew that it had to hire younger executives, managers, and employees in hopes of better being able to appeal to younger crowds; Banco Bradesco must keep up with the world of digital banking, as its younger demographics are readily shrinking as online-only and online-heavy banking apps, websites, and programs make it easier for people to avoid physical, in-living-color banks.
Banco Bradesco was pretty fortunate to have Luiz Carlos Trabuco Cappi move into the role of Chief Executive Officer nearly a decade ago, though his general unfamiliarity with digital banking made him a bad candidate for keeping the job.
However, Trabuco fully understands that he can still contribute great things to Banco Bradesco while on the Board of Directors of the number-two private bank in the 200-million-plus-deep country of Brazil, just most likely not in the veins of digital banking, mobile apps, online banking logins, and just about everything else associated with a computer.