The name, Luiz Carlos Trabuco is not a strange name to many Brazilians. As the president of a huge institution such as Bradesco, everybody in the nations respects you. Over the years, Luiz Carlos Trabuco has strengthened his name in the banking sector after achieving various remarkable milestones. To achieve such big titles, one requires a solid educational background and lots of experience in the industry.
Luiz Carlos Trabuco holds a bachelor’s degree in philosophy, letters, and science from the University of Sao Paulo. Importantly, the man is known to have rejected an offer from the Brazilian president to head the ministry of finance. The Marilia born corporate executive began his career at Bradesco in 1969, immediately after graduating from college.
Although his name wasn’t among the name suggested to replace Marcio Cypriano, former president of the bank, his remarkable experience, and unparalleled market knowledge made him the best candidate for the job. He was appointed the president of the leading Brazilian bank in 2009 after his predecessor Cypriano reached 65 years of age. According to the bank’s statute, no one can head the organization after they are 65 years of age.
When it comes to hiring individuals for the top position, Bradesco always gets that right. For over 70 years that the bank has been in experience, it has been led by top executives including Amador Aguiar, the founder of the organization, Lazaro Brandao, the current board chairman and Marcio Cypriano the immediate former boss. With that said, Luiz Carlos Trabuco will go down in history as the fourth president of the bank, a position he held at 57 years of age.
With over 40 years experience in the industry as of 2009, Luiz Carlos Trabuco was the best bet for the position. Additionally, his unmatched track of record speaks volumes about his career. After joining the firm in 1969, Luiz Carlos Trabuco quickly grew up the ranks to hold senior managerial positions in the company. At the age of 47, Luiz Carlos Trabuco was appointed to serves as the vice president of Bradesco. Following his excellent performance, while serving as the vice president, he was promoted to head Bradesco Seguros.
Under his command at Bradesco Seguros, the insurer’s market share rose from 23 percent to 25 percent. At the same time, the sector’s contribution to the bank’s profits increased from 26 percent to 35 percent. Bradesco is known to factor in continuity when choosing their executives. Luiz Carlos Trabuco’s 40 years of experience in the company coupled with his incredible achievement as the commander of Bradesco Seguros made his the best choice to succeed Cypriano.
After he was appointed as the president of the bank, the prominent executive vowed to ensure better services to their clients. When he was appointed in 2009, Bradesco had lost its position as the leading financial institution in the country to Itau Unibanco, their long time competitor. On assuming power, Luiz Carlos Trabuco stated that regaining position one was a non-issue as excellent service delivery would be meaning than the competition. He came up with a plan to increase their customer base through organic growth, reducing interest rates, buying small existing banks and opening 211 new branches in the country. These plans did not come to fruition immediately as expected.
In 2015, Luiz Carlos Trabuco purchased HSBC at a landmark US$5.2 billion. The deal was named as the biggest deal in the Brazilian business industry. After winning this deal, the company was able to beat Itau Bradesco in three primary sectors including the total value of assets, branch network and the number of account holders. After sealing this prestigious deal, Luiz Carlos Trabuco name became among the most trending names in the country. As a result, DINHEIRO recognized him as the Entrepreneur of the Year.
Visit camar.sp.gov.br for more information about Luiz Carlos Trabuco.