With an asset base of close to $400 billion, Bradesco is one of the largest financial services companies in Brazil, and indeed the entire South American region. The bank employs about 100,000 employees in its more than 500 branches spread across the entire face of the country. The bank is cross-listed on four stock exchanges and currently has two subsidiaries under its control – Bradesco Seguros and Bradespar. Currently the second largest private bank in Brazil, it has since 2009 been headed by Luiz Carlos Trabuco. Despite the numerous pressures that come with running such a big organization, Luiz Carlos Trabuco has done well as Bradesco’s president and will likely serve as an inspiration to many aspiring and young bankers.
With the power of hindsight, it now seems that Luiz Carlos Trabuco and Bradesco were always destined to end up together. Both Bradesco and Luiz Carlos Trabuco have their origins in the small Brazilian city of Marilia. Bradesco first office was opened thereby Amador Aguiar, the bank’s founder, and first president, in 1943. Luiz Carlos Trabuco was also born there in 1969. The two first came in contact with each other when Luiz Carlos Trabuco joined the bank as a clerk in the late 1960s, and they have not let each other go since. Luiz Carlos Trabuco has been brought up through the ranks during his five-decade stay at the bank. He has served in almost every facet of banking as a result. Owing to this high level of experience, coupled with his unrivaled understanding of Bradesco’s culture, he was the only natural pick when the bank was recruiting for only its fourth ever president in 2009.
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Luiz Carlos Trabuco has held the position since and made some lasting changes that will likely see Bradesco remain one of the top banks in Brazil for many years to come. With there still being a small but substantial sum of Brazilians that are unbanked, among his earliest orders of business was developing an organic growth plan that will see Bradesco attract these individuals into the financial sector. Additionally, like his predecessor Marcio Cypriano, Luiz Carlos Trabuco has also been known to take advantage of a good acquisition opportunity whenever it has presented itself. In 2015, with the boards blessing, he oversaw the single largest financial transaction that year when Bradesco took over HSBC’s operations in Brazil for an estimated $5 billion. While many in the industry saw $5 billion as a substantial sum to spend in an acquisition, they were in agreement that it was more than worth it as it saved Bradesco about six years in its expansion drive. The deal also took Bradesco a lot closer toward retaking the title of the largest private bank in the country from Itau Unibanco.
Over the entire course of his professional career, Luiz Carlos Trabuco has time and again received awards and acknowledgment from various industry stakeholders. Only last year, his was one of the names to feature on Forbes Magazine’s list of best CEO is the South American country. Additionally, while serving at the helm of the bank’s banking business, he was once named the business personality of insurance by the Association of Sales and Marketing Officers of Brazil (ADVB) and twice the insurance personality of the year by Coverage Magazine.
Arguably among the things Luiz Carlos Trabuco will be remembered for, in addition to his great management skills, is his discreet profile. Despite being among the most influential men in Brazil’s financial sector, he prefers staying away from the limelight and not showing any external signs of wealth. He much better prefers humbly going about his work.
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