The announcement has been made by Banco Bradesco S.A. for a new president. The replacement for Luiz Carlos Trabuco will be Octavio de Lazari Junior. He will replace Trabuco Cappi in the executive board, although Trabuco will remain in the Presidency of the Council up until March 12. On that date, there will be a general meeting to make these changes. Lazari, 54, has been tapped and referred by many as the heir apparent to succeed Luiz Carlos Trabuco. Lazari Junior had hopes of playing football, having played at Palmeiras. Banking was his true calling as he took a test to prove himself and got the opportunity to go through many different areas.

Luiz Trabuco made it clear that Lazari Junior still must work hard when he is voted into his new position. Octavio Lazari referred to his predecessors during a press conference to announce the change of command, by stating that Bradesco will be victorious. He mentions plans to renew the legacy left by Mr. Brandao as well as Luiz Carlos Trabuco. The choice for Trabuco’s replacement was not a quick and easy selection process however.

Read more: Bradesco anuncia substituto de Trabuco

As explained by Trabuco, the choice for Bradesco to choose a new president took months to happen, as there were over seven choices to pick from. Ultimately his experience created to the sole positioning for Lazari. Bradesco even goes as far as to point out the individual merits of Lazari Junior. They are recognized by his companions and deserve all distinction as mentioned in a joint statement by Bradesco on Lazari’s experience in the Credit area, where he was responsible for many segments, catapulted him to higher ranks as he eventually become President of the Bradesco Seguros Group. With all this change, bankers overall are still optimistic of the national economy in 2018.

Bradesco Seguros announced that it has closed 2017 with revenues in the amount of $76.3 billion Reals. This number means that an increase of 6.8% was seen in comparison to the year 2016. A result of this percentage increase is that the company achieved a market share of 26% which happens to be the highest of the last few years. Low interest rates, a steadily growing GDP that stays between 2% and 3%, and a unemployment rate that is under control are some reasons for these bankers to be optimistic. Still, even with all of these positive aspects, Lazari is still firm in his projections for the company. Lazari states, “We must have a much better year than the years before.”

Although optimistic, both Trabuco and Lazari stress the importance of pension reform and the continuance of this review. Trabuco has been a champion of pension programs over his long career in banking and finance. He began his financial activities at Bradesco on April 17, 1969 and served as President of Bradesco Vida e Previdencia until 1998. Currently he is the CEO of Banco Bradesco S.A. and will remain in that position until March 12th when the general meeting is held in reference to the incoming CEO Lazari.

For more details about Luiz Carlos Trabuco, just click here.

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