The Bitcoin world may be on a rocket ride in the investment world, but many of the top investors think the Bitcoin is not going to be around much longer. Foreign investors are jumping back into emerging market stocks. Brazil is one of the emerging markets that is on the radar of many foreign investors, and bankers like Luiz Carlos Trabuco Cappi think that trend will continue in 2018. Brazil is out of the recessionary woods, and the country is climbing back into the arms of Wall Street.
Bradesco, one of Brazil’s brightest assets, is on track to become one of the best stocks to own in 2018, and that fact is pushing CEO Luiz Carlos Trabuco Cappi to act faster when it comes to picking his replacement. Cappi is over the age requirement that Bradesco put in place when Lázaro de Mello Brandão was the CEO. The age cap is 67, and Cappi is 68. But he’s not going to leave the bank. Lázaro de Mello Brandão is leaving, and Cappi is taking his place on the bank’s Board of Directors.
Lázaro de Mello Brandão and Cappi are a good team. Under their guidance, Bradesco is now an international bank with branch locations in London, New York, Grand Cayman, Luxemburg and Buenos Aires. Bradesco’s 2016 revenue was more than $50 billion, and the bank now has more than $400 billion in assets under management. The bank employs almost 109,000 in 5,300 branches and 4,800 service branches. Cappi is also responsible for online and mobile banking growth. Cappi knows online services are the future, and his IT Vice-President Mauricio Machado de Minas is giving Cappi the online platform that will help revolutionize Brazilian banking. Trabuco Cappi needs a new CEO now that he is chairman, and Mauricio Machado de Minas is one of the men on the shortlist for the job.
Cappi has the banking experience, so Bradesco will continue to be a driving force in the country’s banking industry. Cappi is a 48-year bank veteran with a list of accomplishments that fill several pages in his extensive portfolio. He is the face of the bank in the international banking community. And he is the man Bradesco employees think will give them more advancement opportunities.
But Cappi, and to a lesser degree, Brandão, are in a race to pick the bank’s next CEO. The next CEO will only be the fourth CEO in the bank’s 74-year-old history. Founder, Amador Aguiar, was the first CEO. Lázaro de Mello Brandão was the second, and Luiz Carlos Trabuco Cappi was the third chief executive officer. The next CEO will have to keep the bank relevant in the online banking space, and that is why some employees say Mauricio Machado de Minas should be the next CEO. But no one is ruling out the other six VPs on the list.
The six other candidates are Alexandre da Silva Glüher, Marcelo Noronha, Josué Augusto Pancini, Domingos Figueiredo Abreu, Andre Cano, and Octavio de Lazari. Octavio de Lazari is the current president of the Bradesco’s successful insurance division, Banco Seguros. Cappi was president of Seguros in 2003. Both men have a great track record in terms of producing record-breaking net income, so the insurance employees want to see Octavio take Cappi’s place and that might happen.
It’s safe to say all Bradesco employees have a favorite candidate, but the board will make the final announcement in February right before the March shareholders meeting. As long as Cappi is chairman and Brandão is around to give advice, the new CEO will be in good hands, according to the bank’s executive director, Renato Ejnisman.