Will Luiz Carlos Trabuco Be Appointed The Next Chairman Of Bradesco?
Who is Luiz Carlos Trabuco and why does he attract a lot of interest in the Brazil’s banking industry? Well, Luiz Carlos Trabuco is an accomplished executive who is the chief executive officer (CEO) of the second largest bank in Brazil, Bradesco. He became the CEO of the company in 2009. Surprisingly, over his career spanning over 48 years, Luiz Carlos Trabuco has worked for one organization: Bradesco.
Before he took over as the overall head of Bradesco, Luiz Carlos Trabuco was in charge of Bradesco Seguros; an insurance firm owned by Bradesco. As the president of Bradesco Seguros, he was tasked with managing eight companies including Capitalização, Bradesco Saúde, and Bradesco Vida e Previdência among others. Luiz Carlos Trabuco’s exceptional performance at Bradesco Seguros is still a subject of discussion to date. The executive managed to steer the insurance firm to realize a twofold growth. As if that was inadequate, he established structures that saw the firm’s revenues channeled to its parent company increase by 10 percent, up from 25 percent.
Pundits speculate that Luiz Carlos Trabuco’s performance at Bradesco Seguros informed his appointment as the CEO of Bradesco. He took over the company when Banco Itaú and Unibanco had just merged to create Itaú Unibanco. The resultant Itaú Unibanco emerged as the largest private bank in Brazil consequently pushing Bradesco to the second place.
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Many people asked themselves the question, “Will Luiz Carlos Trabuco work round the clock to push Bradesco to the first place?” The truth is the CEO of Bradesco is a shrewd market analyst, and he realized at that time that Bradesco needed to carve a niche for itself as the leading bank in Brazil in terms of quality service delivery to clients in all the municipalities that the bank operates. He firmly stated that the run to the first place was not his or Bradesco’s agenda.
Contrary to the expectations of many Luiz Carlos Trabuco went ahead to improve Bradesco in different ways. He initiated the creation Unibrad Corporate University to challenge leaders and the company’s employees to reach the apex of their personal performance as well as aspire to achieve Bradesco’s goals. He also saw it fit to re-energize the company’s leadership by bringing in professionals from other banks or related institutions.
Fast-forward six years later after he became the CEO, Luiz Carlos Trabuco announced that with the approval of Lázaro Brandão, Chairman of the Board, Bradesco would acquire the Brazilian branch of HSBC for $5.2 billion. The largest transaction in Brazil in 2015. The one-time acquisition, according to Luiz Carlos Trabuco, was equivalent to six years of organic growth. Definitely, it was not Luiz Carlos Trabuco’s intention to ignite competition with Itaú Unibanco. But in case of a smooth acquisition, Banco de Deus bank in Osasco would be ahead of Itaú Unibanco in three areas: branch network, number of active accounts, and overall investment funds. However, Itaú Unibanco would maintain the lead in three other areas: assets, deposits from account holders, and loans advanced to borrowers. Although Itaú Unibanco would keep the edge in the mentioned areas, Luiz Carlos Trabuco’s led Bradesco would be close to it.
Luiz Carlos Trabuco’s style of leadership is unique and has been widely recognized for it. Last year, he was named by Forbes one of the “Best CEOs in Brazil.” His role of overseeing the largest transaction in Brazil in 2015 earned him the title of the “Entrepreneur of the Year” in the finance category. He is also the winner of the Don Quixote Trophy among other several titles. Many people see Luiz Carlos Trabuco as a capable leader to replace Lázaro Brandão when he retires.