Falling Brazilian Interest Rates Are Forcing Investors To Search For Better Yields Abroad According To Bradesco CEO Luiz Carlos Trabuco Cappi

Brazil’s Central Bank gave the people of Brazil an unexpected holiday gift this year. The main Brazilian bank lowered the interest rate to seven percent. That may not sound like a gift, considering seven percent is still higher than interest rates in other countries, but in Brazil, that’s like winning the lottery. New tax amnesty laws are also helping Brazilian corporations and citizens who have sizable assets outside of the country, according to Banco Bradesco’s Luiz Carlos Trabuco Cappi.

Cappi is the new Chairman of the Board and the current president and CEO. Banks like Bradesco and Itaú are providing private banking for Brazilian living outside of Brazil and both banks expect to increase the number of assets they manage outside of the country.

But the Brazilian banks are still no match for the big U.S. banks that manage money for clients from other nations. Morgan Stanley manages more than $90 billion for Latin America clients living in the U.S., and Itaú is planning to increase their emphasis on the bank’s wealth management operations in other South America countries. Bradesco is doing the same thing with wealth management opportunities, but Itaú has the jump on Bradesco in that banking arena. Bradesco CEO Luiz Carlos Trabuco Cappi is not complaining about his progress in the international wealth department because Bradesco continues to gain market share in Brazil. While Itaú focuses on other countries, Bradesco’s executive team is building a better banking mouse trap inside Brazilian borders.

Bradesco is hovering around the top of the Brazilian banking food chain. The founder of the bank, Amador Aguiar, always wanted his bank to be the best private bank in the country. And thanks to his successor, retiring Chairman of the Board Lázaro de Mello Brandão, Bradesco is now the best private online bank in the country. That’s not to say Bradesco is not on top of the branch banking business because the 5,340 bank branches and 12,000 ATMs across the country serve the banking needs of more than 70 million Brazilians every day according to globo.com.

Lázaro de Mello Brandão is turning the keys to the boardroom over to 68-year-old Luiz Carlos Trabuco Cappi, and that news sent positive shock waves through the banking community. Trabuco Cappi is a competent leader who knows how to take Bradesco to the next level, according to Brandão. Brandão and Cappi have the same goals because the men have a long work history with the bank. Brandão has 74 years of Bradesco banking experience, and Trabuco Cappi has 48 years of service. Cappi is the man who Wall Street admires, and that admiration is also present in the Brazilian banking community. For the last nine years, Brandão and Cappi have put Bradesco in a position to be number one in Brazilian online and mobile banking. But the men didn’t do it alone. The bank’s hand-picked executive team did most of the work. That’s why some bankers say Mauricio Machado de Minas, the team member who put the digital banking platform, Next, together for the bank, will be the next CEO.

There are six other candidates so it’s a tight race for the president and CEO position. And all the men are CEO material, but Alexandre da Silva Glüher name keeps popping up in employee conversations. Andre Cano’s is a hot candidate, and Octavio de Lazari is a good choice, according to the people who work under him in the insurance division. But no one is ruling out Domingos Figueiredo Abreu, Josué Augusto Pancini, or Marcelo Noronha. All those executives have what it takes to be CEO.

Find more about Luiz Carlos Trabuco Cappi: https://www.brasil247.com/pt/247/economia/321809/Trabuco-assumirá-presidência-do-conselho-do-Bradesco.htm