Luiz Carlos Trabuco made big changes within Bradesco when he took over as the bank’s president and CEO in 2009. He brought a different perspective that focused on maximizing service quality for existing customers instead of simply trying to be the top bank in Brazil. After making improvements to facilitate serving a broader range of customers, the new CEO then worked to grow Bradesco by strategically purchasing the Brazilian HSBC branch.
The Brazilian HSBC branch was purchased for $5.2 billion after Luiz Carlos Trabuco gained board approval. Although Bradesco’s main goal is still providing the best service to existing customers, the recent acquisition positions the institution as a leader in the private banking industry. Luiz Carlos Trabuco said that the growth stemming from the acquisition would have taken about six years to accomplish organically. The innovative financial move by the new CEO was what inspired Dinheiro to grant him the Entrepreneur of the Year award.
Luiz Carlos Trabuco’s Rise To Success With Bradesco
At Bradesco, presidential successors are not chosen based on who is the top performer, who has been there the longest or who has connections with the top executives. Successors are chosen based on merit. This is how the institution has chosen its president for many cycles. When it came to talks about who had the most potential, the executives agreed that Luiz Carlos Trabuco was the ideal choice. At the time of his promotion, the notable banker was serving as the executive vice president of the company. He had been with the company for over 40 years.
About Luiz Carlos Trabuco
Luiz Carlos Trabuco was born in 1951 in the municipality of Marilia in Sao Paulo. He attended the University of Sao Paulo’s Faculty of Philosophy, Science and Letters. In 1969, he started his career with Bradesco. When he first started working there, he was a general clerk who moved his way up the chain of hierarchy with hard work. From 2003 to 2009, he successfully ran Bradesco Seguros, which is the securities arm of Bradesco. As a vital part of the financial institution, Bradesco Seguros is responsible for about 30 percent of the bank’s overall profit. His success in this position was one of the reasons why he was promoted to president in 2009.
As soon as he became president and CEO of Bradesco, Luiz Carlos Trabuco became a respected figure within the company and throughout the Brazilian banking industry. His reputation was further solidified by his powerful new plan to create a team of leaders within Bradesco. As soon as employees of the bank are promoted now, Luiz Carlos Trabuco ensures that they have more autonomy to help empower them. He welcomes top executives to enter the Noble Hall, which is one of the most coveted privileges for any employee. When these trusted individuals participate in shareholders’ meetings, Luiz Carlos Trabuco ensures that they only use their time to speak for sharing important messages, strategies, plans of action and proposals. Luiz Carlos Trabuco is dedicated to Bradesco and is passionate about helping the bank’s clients succeed. He arrives at work early in the morning, stays through the evening and often continues his work over business dinners.
Learn more about Luiz Carlos Trabuco: https://www.youtube.com/watch?v=2rHJJsoj7XQ