Over the course of the last few decades, Brazil has transformed from a developing country into a booming industrialized nation. The country is the biggest economy in South America and is ranked among the ten largest in the world. Business has been booming as a result of this growth, which has, in turn, created a great demand for quality financial products and solutions. Among the banks that have aggressively attempted to meet this demand is Bradesco. Under the innovative and wise leadership of Luiz Carlos Trabuco, Bradesco has in a few short years grown Bradesco to become the biggest banks in the country.
Luiz Carlos Trabuco is the current Chief Executive Officer and Vice Chairman of Bradesco. He was named to this position in 2009 after the retirement of previous CEO, Marcio Cypriano. Mr. Cypriano had only been at the helm for a decade but had aggressively expanded the bank, even acquiring ten banks, leaving insurmountably large shoes filled. However, in the seven years since being named the CEO, Luiz Carlos Trabuco has proven that he was more than equal to the task. Having started out as a clerk at Bradesco and growth with it over the years, few understand the bank’s culture, purpose and objective better than Luiz Carlos Trabuco. Serving as only the fourth president at the seven-decade-old has been an honor for Luiz Carlos Trabuco rather than an intimidation. Today he controls over 100 thousand employees and assets estimated at close to $400 billion.
Luiz Carlos Trabuco first joined Bradesco in 1969. He was employed as a clerk at the bank’s agency in his home town. After only two years in the position, he earned a promotion to work at the bank’s headquarters in Sao Paulo. He continued with this strong growth trajectory, being promoted to director of marketing about a decade later and president of the bank’s pension wing eight years after that. In 2003 Luiz Carlos Trabuco was named the president of the bank’s insurance wing, the Bradesco Group of Insurance and Pension Plan. His exemplary performance in this role is the key reason he was named Bradesco’s CEO.
Awards and Honors
During his over four-decade stay at Bradesco, Luiz Carlos Trabuco has received numerous honors in recognition of his unique talents and undying dedication. He is one of the few business executives that have received the “Insurance Personality of the Year” award on two separate occasions – the first in 2003 and the second in 2007. The first time he received the award was in recognition to growing the broker channel at the Bradesco Group of Insurance and Pension Plan. On the other hand, the second award was in recognition for his consistent and component management skills. It is worth noting that while working at Bradesco’s insurance wing, Luiz Carlos Trabuco commanded a broker channel that brought in an estimated 40% of the subsidiary’s earnings. In 2015 he again received an award, this time as the entrepreneur of the year in finance. The award was in recognition of Luiz Carlos Trabuco’s shrewdness in acquiring HSBC Brazil for an estimated $5.2 billion. The deal saw Bradesco become the largest private bank in Brazil by the number of account holders and branch network.
Looking into the Future
The future looks bright for Bradesco with Luiz Carlos Trabuco at the helm. The banking industry in Brazil is beginning to get saturated, and with economic crises occurring once in a while, there is only so much room for Bradesco to grow. That said, with Bradesco having Luiz Carlos Trabuco arguably the best-rounded banking executive in the country, maintaining market leadership is almost guaranteed.
Learn more about Luiz Carlos Trabuco: http://epocanegocios.globo.com/Empresa/noticia/2017/08/trabuco-retomada-do-credito-depende-de-volta-do-pib-e-da-taxa-de-investimento.html