Luiz Carlos Trabuco: Bradesco’s Chairman And President For The Next Few Weeks

Early last month, Bradesco surprised the Brazilian financial industry by announcing a raft of leadership changes that were largely unexpected. Key among these changes was the resignation of long-serving chairman, Lazaro Brandao due to old age. The board then settled on the current president as the best fitting individual to take over from Brandao. This decision, in turn, left Luiz Carlos Trabuco’s old position – that of president – vacant and needing immediate replacement. The process of selecting a new president has, therefore, began in earnest at the bank.

Bradesco is expected to remain true to its long-held tradition of selecting presidents from within its top leadership ranks. This strategy has greatly worked in the company’s favor, during the last three succession cycles. Consequently, the bank’s current executive vice presidents are seen as being the most likely picks for the position. However, while the search for a new president has begun, the decision on who it is will not be made until March 2018 when the planned shareholder’s meeting is held. Therefore, Luiz Carlos Trabuco is expected to continue giving the bank guidance for at least four more months as both president and chairman.

Being named chairman is the culmination of over four decades of hard work at Bradesco for Luiz Carlos Trabuco. He joined the bank in 1969 when he was employed as a clerk at one of the bank’s branches. Right from the very beginning, Luiz Carlos Trabuco shared some peculiar similarities that led many to believe that he was always destined to finish his career at the organization. Bradesco was founded in Marilia, Brazil – Trabuco’s city of birth. Additionally, Bradesco became the largest private bank in the country in the same year of Trabuco’s birth: 1951. However, it is his concrete performance at every position he has been assigned that has led him to ascend the leadership ladder at the company with the haste that he has done.

Read more on folha.uol.com.br

A very successful six-year tenure at Bradesco Seguros is what made Luiz Carlos Trabuco known to the entire financial industry in Brazil. At the time he was joining the subsidiary in 2003, it was already the largest insurance company in the country and many consequently though he was going to have a muted tenure. However, he immediately asserted his desire to continue growing the company as soon as he took over by expanding its agent network. This move helped grow the number of policies held by the company to approximately 25 percent of all those in the market by 2009 – thus further increasing Bradesco Seguros foothold on the market. During this six-year spell, he was twice named the insurance personality of the year in recognition of his efforts to grow the insurance industry in the country.

For the last nine years, Luiz Carlos Trabuco has been serving as the president of Bradesco. His appointment was in 2009 and come immediately after his tenure at Bradesco Seguros. Despite facing a difficult economic climate in his first year of appointment, he managed to weather the storm and add more than 200 new branches to the Bradesco network. Six years later, he engineered the largest takeover in Bradesco history when the bank purchased fellow competition, HSBC Brazil for an estimated $5 billion. In addition to winning Luiz Carlos Trabuco the accolade of entrepreneur of the year in the finance category for 2015, it also drew Bradesco a lot closer to becoming the largest private bank in the country again.

Now as chairman and with the help of the incoming president, hopefully, Luiz Carlos Trabuco will guide Bradesco to finally reclaiming the top spot.

For more information about Luiz Carlos Trabuco, visit infomoney.com.br.

Luiz Carlos Trabuco: The Man Behind Bradesco’s Growth

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.

Bradesco-HSBC Acquisition
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