The following article highlights the middle of a translation from Portuguese to English of the publication featured by Crescer and the financial impact it may have on regular Brazilians. Unless you are familiar with the story, Luiz Carlos Trabuco Cappi runs Bradesco, which is one of the largest in the country. It use to be the largest, but there was a merger of two smaller, yet powerful, banks to seize control of the top spot in the country. Things are changing, and Bradesco, along with its leader and financial superstar, Luiz Carlos Trabuco Cappi, are changing things. You may read the article in its entirety by clicking here. The information is far too vast to cover in one article. There is plenty of research done, and it is easily accessible to help explain the background of the situation.
The background of the article has to do with the struggle to control Bradesco, which Luiz Carlos Trabuco Cappi eventually took control of, and his name remains synonymous with the bank. Before he could take over, Bradesco was the largest bank and money manager in all of Brazil, which carries a lot of weight considering Brazil has the second biggest economy in all of North and South America next to the United States. That information clearly leads to the next fact, which is Brazil is biggest economy in South America. These facts keep the largest banks in Brazil very busy, popular places. A lot of money is circulated hourly. Knowing the background of the original article and Brazil’s financial standing in the Western Hemisphere, it is important to get the middle of the publication translated and available for everyone else. Below, is the translated material.
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From the Revista Crescer
In addition to Luiz Carlos Trabuco Cappi, there was also the current commander of the group’s investment bank, José Luiz Acar Pedro according to infomoney.com.br. He arrived in Bradesco after the purchase of the National Credit Bank, also known as the BCN, in 1997. Another name often mentioned by analysts was that of Vale president Roger Agnelli. Like Trabuco, Agnelli was nominated for the command of Vale by Bradespar, which is the shareholding arm of Bradesco and the company’s main shareholder. It is possible that, just as happened to Trabuco in the succession of Brandão, Agnelli, 49, is still considered very young by the standards of the institution. “Trabuco was born there, knows the culture and is up to the challenge of leading a huge financial institution like Bradesco,” says Antonio Jacinto Matias, vice president of Itaú Unibanco, the largest bank in the country, formed by the merger of the two institutions. Jacinto Matias is the one that named the new top bank Itaú Unibanco at the end of 2008.
Luiz Carlos Trabuco Cappi’s name would still have to be approved at the first council meeting to be held after the general meeting scheduled for March, but there should be no surprise. Cypriano, the outgoing president, had been at the head of the bank for ten years. In his management, Bradesco bought ten banks and the banks among them were the Spanish BBVA, Boavista and BMC. Additionally, he aggressively invested in the opening of branches. As a result, the volume of credit for Bradesco doubled.
There were several other men trying to gain control of Bradesco, and many of them were backed up or endorsed by various member branches of the bank. Also, there were several names nominated for different positions of the banks. It was clear the bank was looking for younger blood considering Roger Agnelli was 49 and only a few year younger than Luiz Carlos Trabuco Cappi. Finally, although everyone knows Luiz Carlos Trabuco Cappi took over, he had a lot of competition, and he had the big shoes of the outgoing president to fill.
Find more about Luiz Carlos Trabuco Cappi: http://www.istoedinheiro.com.br/noticias/negocios/20151218/luiz-carlos-trabuco-cappi-empreendedor-ano-nas-financas-2015/327856