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Bradesco’s Chairman Luiz Carlos Trabuco Cappi Is Moving The Bank Into The Digital Age

Brazilians aren’t any different from people in other countries who rely on digital banking instead of the old branch type banking. Mobile phone service in Brazil is expanding at an unprecedented rate, and Bradesco is trying to keep up with the Internet banking demand.

But Bradesco has some work to do even though former CEO and the current Chairman of the Board, Luiz Carlos Trabuco Cappi is totally committed to keeping the bank in the digital banking business.

Bradesco’s Board of Directors, under the direction of former Chairman Lázaro de Mello Brandão, decided to acquire HSBC’s Brazilian banking operation in 2015. Bradesco inherited hundreds of HSBC Bank branches, and many of those branches were near Bradesco branches. Cappi and Lázaro de Mello Brandão realized closing bank branches was their number one priority in 2017. They want to continue to expand mobile and online banking services. In order to close the number of branches the bank needs to close, internal changes had to take place. One of those changes was the retirement of Chairman of the Board Lázaro de Mello Brandão.

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

CEO Luiz Carlos Trabuco Cappi and Lázaro de Mello Brandão know how to work together. They started working together when Brandão hired Cappi in 1969. Bradesco’s founder Amador Aguiar was still around when Brandão gave Cappi a shot to be a Brazilian banker. Cappi was more cerebral than he was financial in those days. His degrees in philosophy and psychology came in handy as he mingled with the small town bank employees and customers. Cappi knew how to talk to people, and his management skills were above average for a banker with no real banking experience. Cappi went through the bank’s training program, and he did what all bankers do as they work their way up the banking pecking order. He put a team of bankers together, and most of the team still works for the bank in high-level positions. One of those team members, Octavio de Lazari, is the new Chief Executive Officer of Bradesco, and four other Cappi team members now have a seat on the bank’s Board of Directors. One of those board members, Mauricio de Minas, is the vice president who helped Cappi start Next, the bank’s digital banking division.

Cappi and Lazari want to stay current in terms of online banking. They want to offer new products to digital customers. Wall Street investors are betting Cappi and Lazari will do that in a profitable way. Bradesco’s stock is not performing as well as expected in the first quarter of 2018, but most investors know, closing bank branches is an expensive undertaking. Cappi and Lazari plan to close more than 200 branches in 2018, according to some reports on But some investors say Bradesco needs to close more branches in order to keep the stock moving in the right direction. Cappi will do what he always does when it comes to producing profit. And Lazari will follow the profit mission Cappi started. Most shareholders believe the Cappi team won’t disappoint them when 2018 goes into the banking record books.

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