As HSBC Brazil Acquisition Winds Down, Bradesco Updates Its Executive Suite

After the momentous acquisition, in 2015, of HSBC Brazil by the banking giant Bradesco, the latter company went through a period of intense integration of all the former assets of HSBC Brazil into the systems of Bradesco. This process took nearly two full years. But it is finally winding to a close.

As a result, the man that put the deal together, Luiz Carlos Trabuco Cappi, is nearing the end of the road in his tenure as CEO. At 67, Trabuco Cappi is two years past the maximum age for CEOs that is spelled out in the corporate bylaws. Additionally, Brazil has a strong tradition of elder executives retiring by their 65th birthday.

But such was the importance of Trabuco Cappi’s role in the acquisition deal and such was his intimate knowledge of the acquired company and the best ways to go about integration, that he was personally granted several extensions in his tenure by none other than the symbolic and spiritual figurehead of the company himself, Lazaro Brandao.

At 91 years old, Lazaro Brandao had become something like a spiritual leader of the firm. Few men have ever gained such an exalted reputation and the staunch admiration of a company’s stakeholders than Brandao. For someone who was not involved in the founding of a company, Brandao had an almost mesmerizing effect on people, the kind usually reserved for such brilliant, visionary corporate founders as Sam Walton or Warren Buffett.

Brandao had used his considerable leverage to keep Trabuco Cappi on long past his contractual expiration date. This was not just due to Trabuco Cappi’s intricate knowledge of the HSBC Brazil deal.

Read more: Bradesco to choose board member as new president, says Trabuco

Lazaro Brandao has stated on many occasions that he believes that Trabuco Cappi is among the most influential and important leaders that the bank has ever produced.

In the face of some criticisms from board members and shareholders about his decision to appoint Trabuco Cappi to replace him as chairman of the board, Brandao has stated explicitly that he believes the 67 year old veteran banker is the absolute best man for the job, anywhere in the world.

Who will become the next CEO?

As Trabuco Cappi departs to head up the boardroom, the question remains who will be the next CEO that he appoints as his replacement. At first, there were rumors that Trabuco Cappi would break from tradition and go looking for the next CEO outside the company’s ranks. But he quickly dispelled those rumors himself, stated outright that he had no intention of breaking ranks in his search for the next CEO.

This means that there are seven people who are theoretically eligible to become the next CEO of Brazil’s largest bank. While, at least in theory, all of these candidates have roughly the same chances of being appointed to the top spot at the bank, many experts agree that there are only two real contenders.

Trabuco Cappi is known to be hugely enthusiastic about technology and the role that it can play for Bradesco into the future. He is also known to be a staunch advocate of meritocratic promotion, eschewing the soft qualities, such as seniority or credentials, for the demonstrated traits of on-the-job performance and the ability to boost the corporation’s bottom line.

In this light, it appears as if the next CEO is likely to be Mauricio Minas, the 57 year old IT chief of the firm. Minas played an integral role in the development of the Next online banking platform. He was also a key asset in the bank’s ability to seamlessly meld HSBC Brazil’s IT infrastructure into that of Bradesco.

For more information about Luiz Carlos Trabuco Cappi, just click here.