Luiz Carlos Trabuco Cappi has been a frequent driver of news in the Brazilian finance sector over the last few years. After having orchestrated the single largest acquisition in Brazilian business history, the 67 year old CEO of Bradesco, one of the largest banks in Brazil, has again grabbed the spotlight as part of ongoing management changes at his longtime workplace.
Trabuco Cappi will step down from his role as CEO and will replace outgoing chairman of the board Lazaro Brandao within the next couple of weeks. Rather than running the daily operations of the firm, in his new role, Trabuco Cappi will have more time to focus on broad strategy and long-term goals.
Technological illiteracy is a major hurdle, but it is also surmountable
Throughout his long career with Bradesco, Trabuco Cappi has always been one of the bank’s most vocal proponents of the early adoption of technology. Together with Lazaro Brandao, currently 91 years old, the two men made an unlikely duo in the proselytizing of the board and the firm’s leadership in the many benefits of technology.
Both Trabuco Cappi and Brandao were some of the first people in the country to recognize the potential that the internet gave to banks. In fact, under Brandao’s watch, Bradesco was one of the first banks in the world to implement a fully functional online banking interface, way back in the late 1990s.
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Trabuco Cappi has proven that he is equally bullish on technology of all types. This is not just true in terms of what he believes it can accomplish for his bank but also what it can do for the country of Brazil as a whole. Trabuco Cappi recently cited that more than 13 million of the bank’s 27 million customers had no access to the internet and were, for all practical purposes, technologically illiterate. While this pronouncement may have seemed harsh, it is spoken by a man who has perhaps done more than any other businessman in the country to bring the power of modern connectivity to the masses.
According to valor.com.br, Trabuco Cappi has identified the inability to use technology, either due to lack of knowledge or lack of resources, as a major challenge to both Bradesco and the country as a whole. While neither he nor Brandao came out and said it, there has been widespread speculation that the bank may be planning some kind of major intervention on behalf of those 13 million customers that do not have regular access to internet banking facilities or the web itself.
Trabuco Cappi also stated that he believes that Brazil, even with all of its chaotic political woes, continues to be an attractive investment for foreign capital. He pointed to increased investment across nearly all sectors of the economy. The Brazilian economy, Trabuco Cappi stated, has come mostly unglued from the political process. In this context, he deems this detachment of politics from the economy as a largely good thing. It means that the corruption and incompetence of the Brazilian political class cannot derail the incredible strides that company’s like Bradesco and other major players are making throughout the country, building a better future for all Brazilians and rapidly accelerating the country towards a genuinely first-world economy.
Brandao will be stepping down for the last time
For his part, Lazaro Brandao, the 91 year old chairman of the board of Bradesco, who Trabuco Cappi will be replacing, will not be taking another role with the firm. This marks the end of an incredible, productive 75-year career, over which the bank experienced some of the most spectacular growth of any company in Brazilian history.
Learn more about Luiz Carlos Trabuco Cappi: https://www.brasil247.com/pt/247/economia/321809/Trabuco-assumirá-presidência-do-conselho-do-Bradesco.htm