Luiz Carlos Trabuco is the current President of Bradesco, one of the largest banking and financial services organizations in Brazil. He took over the presidency of the bank in March 2009 from Marcio Cyriono, who had multiplied Bradesco’s market value from $ 5 billion to $30 billion and made it the largest private bank in Brazil.
At the beginning of 2009, the year Trabuco become the President, Bradesco lost the lead to its rival Unibanco, who merged with Banco Itau. Asked what he would do to help Bradesco regain its first position, Trabuco cautiously ruled out the run for the first position and insisted that his company would concentrate on doing the best job for the clients it serves.
How Bradesco Regained Its Position
In 2015, six years after he took over as the President, Trabuco made one of the boldest moves to make Bradesco an unstoppable power house. With the blessings of Lazaro Brandao, who is currently the Chairman of Bradesco, Trabuco purchased the Brazilian branch of HSBC for a whopping $ 5.2 billion. The move was unexpected and was the largest acquisition in Brazil in 2015. With the acquisition, Bradesco tripled its market share and became a leader in the private sector. For this achievement, Trabuco was crowned the Entrepreneur of the Year Award in Finance by Dinheiro. Trabuco has also been a recipient of many other awards throughout his career. He is a two-time winner of the Insurance Personality of the Year Award due to his enthusiasm and massive influence in the insurance sector.
Those close to Luiz Carlos Trabuco say he was born to work for Bradesco. The exceptional executive worked hard to reach his current position. He joined the bank in 1969 and served a clerk. He went through all hierarchy levels and was appointed the Banks Vice President in 2003.
In the new position, Trabuco together with the then President, Marcio Cyriono, established strong foundations and strategies that have contributed about 30% of Bradesco’s profits to date. Excellent, right? In 2009, Trabuco was then appointed the president of Bradesco, a position that has been held by only three people since 1943. The three people include the Founder of Bradesco, Amador Aguiar, the Chairman of the Board of Directors, Lazaro Brandao, and Cypriano, who left the institution in 2009.
What Makes Trabuco Stand Out?
Trabuco is known for his boldness and unique leadership skills. As soon as he took over as President, Trabuco introduced a few things that changed how Bradesco was managed. He introduced a platform that brought all executives from all levels of the bank together. This enabled easy supervision and encouraged team work. He also gave all the promoted executives the freedom to run their branches independently without too much interference from the company’s headquarters. By doing this, the executives felt part of Bradesco and worked harder to make it a success. He has confidence in his company’s mission and believes it’s the future of Brazil.
Personal Life And Education
The brilliant executive was born in Marilia in 1951. He attended the University of Sao Paulo and graduated with a Bachelor of Science degree. His compensation package, including wages and bonuses, is about $1 million per month. Despite his huge influence and wealth, Trabuco is a simple man who avoids any outward sign of wealth. He believes there is more to life than power and money and only works hard to make the world a better place.
Bradesco, the company that Trabuco works for, is headquartered in Osasco, Sao Paulo. The company is one of the largest financial institutions in Brazil, with over five thousand branches country wide. The company has entered into numerous partnerships and is continually expanding.