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Brazil's second largest private sector lender, Banco Bradesco, appointed Octávio de Lazari Junior to lead its insurance operations.
Grupo Bradesco de Seguros includes auto, life, health and dental insurance, as well as private pension and savings bond operations, among other businesses, the bank said in a press release announcing the appointment.
Lazari Junior started his career at Banco Bradesco in 1978 and he gradually moved up through the ranks, becoming an executive managing officer in 2015.
The executive will replace Randal Zanetti, who assumed the post after the death of Marco Antônio Rossi, in a plane crash in November 2015.
The insurance area is a key earnings generator for the bank and seen as a platform to prepare its future leaders. Banco Bradesco's current CEO, Luiz Carlos Trabuco Cappi, assumed the bank's top post after many years as head of the insurance division.
With approximately 50.4mn clients, Grupo Bradesco de Seguros is one of the biggest insurance and pension groups in Brazil and in Latin America.