Banco Bradesco's former CEO and chairman dead at 93

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Banco Bradesco's former CEO and chairman dead at 93

Former chairman of Banco Bradesco, Brazil’s second-biggest private-sector banking institution passed away on Wednesday, 16th October. Lazaro de Mello Brandao was 93 at the time of his death and had been associated with the bank for almost 75 years, from 1942 when he joined the firm up to 2017 when he retired.

In a statement announcing Brandao’s death, Banco Bradesco’s current chief executive Octavio de Lazari Junior said, “He had an intense and vigorous working rhythm, which was contagious for all of us. He used to be one of the first ones to arrive at our headquarters every day”.

A visionary, Brandao is credited with aiding Brazil’s development by widening the bank’s reach to customers from all societal strata instead of merely having an upper-class clientele. Prior to serving as the bank’s chairman, from 1990 to 2017, Brandao was its CEO, from 1981 to 1999.

He was also the main person who helped the bank acquire Hongkong and Shanghai Banking Corporation’s (HSBC) Brazilian entity in 2015. Fellow private-banking giant, Itau’s chief executive Candido Bracher also offered his condolence to Brandao.

In a statement acknowledging the nonagenarian’s death. In a statement, Bracher said, “Brandao was a key man not only for building one of the world’s largest banks but also for helping Brazil’s economic development in recent decades”.