Luiz Carlos Trabuco is the current Chief Executive Officer of Bradesco, one of the largest banks in Brazil. He was born in Marília, São Paulo in the year 1951 and he later graduated from the University of São Paulo’s Faculty of Philosophy. By the time he became the CEO of this bank in 2009, the bank had already lost its lead for its major competitor, Itaú Unibanco. In order to revamp the bank to its position in the banking industry, Trabuco emphasized on serving the municipalities where the bank operates rather than on leadership.
In August 2015, Trabuco made an outstanding decision that could provide the bank with a competitive advantage in the industry. He purchased HSBC’s Brazilian subsidiary for $5.2. This acquisition gave the banks a competitive advantage over the Itaú Unibanco in various items including total investment funds, number of account holders, and branch network. Particularly, the acquisition of HSBC let to more growth in Bradesco’s market share that it would have been possible through organic growth.
On the other hand, the success of the bank could be attributed to Luiz Carlos Trabuco leadership qualities. He is largely considered as a professor who uses persistence, determination and wisdom in order to achieve the desired results. This is one of the reasons as to why he became the CEO of the largest insurer in the country. He has effectively leveraged the Brazilian economy with its constant growth and stability. The banks’ previous performance is a clear indictor of Trabuco’s effective management.
He was appointed as the Bradesco de Seguros e Previdência Group’s President in 2003, and after four years of his management, it took command of the leading insurance group in the country. Trabuco has widespread experience in the banking industry and he is a strong advocate for selling insurance using broker channel. Typically, the process involved in choosing the President for the bank at the city of God is very rigorous in order to ensure that the best candidate is chosen. This process has been compared to an endurance contest. As such, Trabuco was appointed as the president with no doubt that he was the best to succeed the former President.
Trabuco started working in Bradesco as a clerk and he has worked in the bank for over four decades now. As such, he fits perfectly into the so-called “continuity and renewal” profile. In addition, he is also regarded as one of the few influential executives in the Brazilian economy. He is not only a remarkable trader but also a great financier of outstanding projects in the country. Due to his enormous success and his position, he is often featured in the Brazilian newspapers and magazines. In addition, his opinions are often followed closely by politicians and business leaders.
Before Trabuco became the President of Bradesco, three presidents had served at the bank. These presidents were the founder of Bradesco, Aguiar, Cypriano, and Lazaro Brandao. It is noteworthy that Trabuco became the fourth president at the time when the bank had lost its leadership position in the industry to Itaú Unibanco. Another important thing to note about Trabuco is that he was very conversant with Bradesco prior to his appointment to the position of being the president of the bank. He had widespread experience in various strategic areas of the bank including marketing and pension, having worked in the bank for four decades. He became the bank’s Vice President at only 47 years of age. Under his command as the Vice President, Bradesco Seguros’ market share increased from 23% to 25%. This is one of the factors contributed to his promotion.
Find more about Luiz Carlos Trabuco: http://fotos.estadao.com.br/galerias/cultura,luiz-carlos-trabuco-cappi-e-lucilia-diniz-ofereceram-jantar-em-torno-do-prefeito-joao-doria-e-sua-mulher-bia-nos-jardins,30901