Organizations motivate their staff differently. Promotion, recognition, and monetary incentive top the list of the preferred methods of motivating employees. Promotion, in particular, has been a successful method of motivating staff for one Brazilian bank, Banco Bradesco SA. The 74-year-old bank is undoubtedly the leading institution in Brazil regarding employee retention and promotion.
The recent resignation of Lazaro de Mello Brandao, 91, aptly shades light on the importance that Bradesco attaches to the development of its staff. Before he stepped down, Brandao was the chair of the board of directors of Bradesco, representing the Bradesco Foundation, the controlling shareholder of Bradesco, in the board. Brandao had been the president of the board for close to three decades. In fact, between 1991 and 1999, Brandao was both the chair of the board and the president (CEO) of Bradesco according to valor.com.br.
Brandao’s story at Bradesco is a source of inspiration for employees starting out their careers in lower cadre roles. In 1943, Bradesco, which was in its budding stage, hired Brandao. The 17-year-old Brandao had modest professional qualification, and he was lucky that the bank hired him as a clerk. Without college certificates to boost his case, Brandao had to work twice as much to initiate his journey up the corporate ladder. Luckily, for him, Bradesco recognizes and awards performance. The bank appointed him director in 1963.Fourteen years later; he was made the overall vice president with Amado Aguiar as the president of Bradesco. Aguiar resigned in 1981 and the bank settled on Brandao to succeed Brandao as he was seen as the leading candidate who understood the inner workings of the Osasco-based Bradesco.
Read more: Next Bradesco president to leave the bank’s board of directors, Says Trabuco
Between 1981 and 1991, Aguiar was the chair of the board of directors with Brandao as the president. Unfortunately, Aguiar’s health began deteriorating, and in 1991, he stepped down. Bradesco’s management failed to identify someone else, apart from Brandao, to succeed Aguiar, the founder of the bank. The man who started as a clerk was now holding two critical posts in the largest private bank in Brazil, at the time. Moreover, Brandao was not cowed; he held both positions for eight years, resigning as CEO in 1999. Marcio Cypriano, another professional who started out his career at Bradesco, took over. Meanwhile, Brandao continued serving the bank as CEO until he stepped down on October 11, 2017.
Luiz Carlos Trabuco
Just like Brandao, Luiz Carlos Trabuco is emblematic of Bradesco’s high retention of staff. He is the serving CEO and chair of Bradesco. While he took over the presidency of the bank in 2009, the appointment as chairman occurred immediately Brandao announced his resignation. One wonders how Luiz Carlos Trabuco is juggling both posts especially now that Bradesco is a massive bank valued at over $413 billion (2017). Perhaps Luiz Carlos Trabuco studied his predecessors, Aguiar and Brandao, who at one point were in his current position. But Luiz Carlos Trabuco is lucky as his tenure as president will elapse soon. He is expected to resign in March, and focus on his new office.
The imminent resignation of Luiz Carlos Trabuco has generated interest in Bradesco and the entire Brazilian banking sector. As usual, the bank will pick one of its high-ranking leaders to succeed Luiz Carlos Trabuco. Some of the leaders who are under consideration, according to insiders on istoedinheiro.com.br, include Mauricio Machado de Minas, Alexandre da Silva Gluher, Domingos Figueiredo Abreu, Josué Augusto Pancini, Marcelo de Araujo Noronha, Octavio de Lazari, and André Rodrigues Cano.
A look at the professionals on the list of “potential CEOs” is yet another confirmation of the high retention issue. Five of them joined the bank in either the ‘70s or ‘80s. Only two of them, Noronha and Minas, were hired recently.
Find more about Luiz Carlos Trabuco: https://g1.globo.com/economia/negocios/noticia/sucessao-no-conselho-do-bradesco-foi-um-ato-planejado-diz-trabuco.ghtml