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Report: Bradesco Seguros chief a top contender to lead Banco Bradesco

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Report: Bradesco Seguros chief a top contender to lead Banco Bradesco

In the wake of Lázaro de Mello Brandão's resignation as chairman, speculation has resurfaced on potential successors to lead Banco Bradesco SA, with the current head of Bradesco Seguros SA, Octavio de Lazari Jr., seen as a leading candidate, Folha de S.Paulo reported.

With Brandão's departure, Bradesco CEO Luiz Carlos Trabuco Cappi was tapped to also take on the chairman role through March 2018. However, Trabuco, who is 66 years old, will reach the company's new mandatory retirement age later that year — the company having already raised it to 67 from 65 a year ago so that the executive could complete the integration of the bank's acquisition of HSBC Brasil.

Trabuco reportedly said recently that when the time comes, his replacement will likely come from the bank's executive board — and more specifically from the company's pool of seven vice presidents.

According to Folha, Lazari is seen as a frontrunner for the post, although the report cited João Augusto Salles, an economist with Lopes Filho consulting, as noting that all of the bank's executives are strong contenders.

"In the case of Bradesco, it is difficult to predict. Directors are trained equally; there isn't one person who stands out in relation to another," the economist was quoted as saying.

Augusto Salles said he expects a decision to be announced by the middle of November.