The announcement has been made for a new president by Banco Bradesco, S.A.. The person stepping in for Luiz Carlos Trabuco is Octavio de Lazari Junior. Although Trabuco will stay in the Presidency of the Council until March 12, on that date, there will be a meeting to make these changes. Lazari, 54, has been referred by many as the successor to Luiz Carlos Trabuco. Lazari Junior had planned on playing football earlier on, having played at Palmeiras. Banking just happened to be his true calling as he proved himself worthy and gained the opportunity to experience many different areas.
Luiz Trabuco made it clear that Lazari Junior still must put in the work, when he is voted into his new position. Octavio Lazari mentioned to his colleagues during a press conference that Bradesco will be victorious according to estadao.com.b. He spoke about plans to renew the legacy left by Mr. Brandao as well as Luiz Carlos Trabuco. The choice for Trabuco’s replacement was not an easy process however.
As explained by Trabuco, the choice for Bradesco to choose a new president took quite some time to happen, as there were many 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. 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.
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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.