Former chairman of Brazil's Banco Bradesco dies at 93

SAO PAULO (Reuters) – Lázaro de Mello Brandão, former chairman of Brazil’s Banco Bradesco SA (SA:), died on Wednesday at 93 at a hospital in Sao Paulo, the bank said in a statement.

Brandao stepped down from his chairman role two years ago, after a 75-year career at the bank. He joined Bradesco in 1942 and worked alongside founder Amador Aguiar.

He kept a tight grip on Brazil’s second largest lender for decades and has been its chief executive and chairman.

“The Brazilian financial system lost one of its best known executives that led us,” said Bradesco Chairman Luiz Carlos Trabuco Cappi in a statement.

Sergio Rial, chief executive of Banco Santander (MC:) Brasil SA (SA:), said Brandao “led Brazilian financial industry for a long time and left a valuable legacy.”

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