Brazil’s economy grew by one percent in 2017. The official inflation rate is still 12 percent, but the Temer government is trying to bring that rate down by lowering interest rates and offering new programs. But Temer has his own set of issues. Most Brazilians are not happy with Temer. Their choice for president is ex-president Lulu. But Lulu can’t run for president because he broke the law, so the next president of the country is still a mystery.
But Banco Bradesco, the nation’s second-biggest bank doesn’t have those leadership issues. The current CEO, Luis Carlos Trabuco, is moving into the chairman’s office, and Octavio Lazari will be the bank’s CEO when his nomination gets the green light from shareholders on March 12th. Lazari is a member of Trabuco’s executive team. He is the current vice-president of the bank’s insurance division, Banco Seguros. Lazari is a long-term Bradesco employee, but his insurance assignment is a little over a year old. At 54, Lazari is the right age to be the domestic and international face of the bank. His past accomplishments in terms of generating profit make him a well-rounded executive in the eyes of the Board of Directors according to meioemensagem.com.br. The former Chairman of the Board, Lázaro de Mello Brandão likes Lazari’s banking style because it fits Bradesco’s management model. Luiz Carlos Trabuco and Lázaro de Mello Brandão are the men who privately campaigned for Lazari because Lazari knows what Trabuco wants to accomplish as Chairman of the Board.
Luiz Carlos Trabuco is the banker most Brazilians recognize because of his push to give bank customers more Internet and mobile banking services. Trabuco is also the man who put the 2015 HSBC acquisition together. Bringing Brazil’s HSBC operation into the Bradesco family made the bank a domestic banking powerhouse. The bank has more than 5,300 local branches and thousands of ATMs and service centers around the country. Trabuco is also responsible for the influx of foreign investors. The New York stock market as well as the Sao Paulo stock market like Trabuco’s management skills, and the bank’s profit margins that are making shareholders happy. Lazari has a winning track record when it comes to generating profit, so stockholders are getting two proven leaders for the price of one, according to some investors.
But it’s not going to be smooth sailing when Lazari moves into the CEO office. Bradesco has challenges to overcome in 2018 and beyond. Brazilians are using their mobile devices to shop, interact, and bank as well as to do other things, and Bradesco’s mobile banking platform needs work according to valor.com.br. Staying ahead of the mobile banking industry is a priority for Octavio Lazari. Trabuco put the mobile banking services in place, but Lazari will have to expand services in a market that has several digital banks with IPO offerings.
Bradesco is flexible, thanks to Trabuco and the team of executives who implement the bank’s business plan. Lazari is an important part of the Trabuco team. Octavio has the support of his fellow Bradescoians as well as the support of investors, so people are expecting big things from him in 2018.