A country’s economy is a complex system made of many interdependent industries. Arguably one of the most crucial sectors to the health of any economy is the banking industry. As such, countries all around the world are continuously engaged in processes that encourage competitiveness and growth in their banking industries. Brazil is one of the countries. The country, which also happens to have the largest economy in Latin America, has a healthy banking industry that is made up of a healthy mix of private and public banks. In the last five decades, one bank that has consistently featured highly among the list of top private banks is Bradesco.
Currently, it is the second-largest private lender but has under the leadership of Luiz Carlos Trabuco shown that it might soon take the top spot from Itau Unibanco according to terra.com.br.
Perhaps the reason Bradesco has been fairing so well under the guidance of Luiz Carlos Trabuco is the fact that he holistically understands the bank’s culture. The experienced executive joined the bank more than five decades ago. Coincidentally, Bradesco and Luiz Carlos Trabuco hail from the same Brazilian town of Marilia. Despite only being a teenager when he joined the bank as a clerk, Trabuco quickly impressed in the role as was soon after promoted to a mid-level post. By 1984, he had already joined the managerial rank by being appointed to the position of marketing director. He impressed immensely in the position by mending the bank’s relationship with the press and was soon after the recipient of even bigger promotions. By 2003, he had already risen to become the president of Bradesco Seguros, a subsidiary of the bank. While at the insurance company he immensely the stature of the Brazilian insurance industry and was befittingly the recipient of numerous awards during six-year tenure. His success at the insurer also meant that he became the undisputed top candidate for the presidency of Bradesco once Marcio Cypriano retired. As such, in March 2009 Luiz Carlos Trabuco took over Mr. Cypriano as the president of Bradesco. It is a position that he has ably held since. He has also turned down numerous lucrative offers to remain with Bradesco including the chance to become Brazil’s finance minister.
Read more: Lázaro Brandão será substituído por Trabuco no conselho do Bradesco
A New Beginning as Bradesco Chairman
In late 2017, Bradesco announced that Luiz Carlos Trabuco would be taking over from Lazaro Brandao as the chairman of the financial institution. It is a deserved appointment for Luiz Carlos Trabuco as he is significantly more experienced than every other employee at Bradesco. The appointment has also rejuvenated Trabuco’s relation with the bank as he was earlier meant to leave the bank this year after hitting the mandatory retirement age for presidents. Since the position of chairman does not carry a retirement age, Luiz Carlos Trabuco will likely be at Bradesco for at least a few more years. For the meantime, however, he will continue serving as the president of the bank until a replacement is chosen later on this year.
Stepping into the shoes of the legendary Lazaro Brandao will not be easy even for the highly active Luiz Carlos Trabuco. Before his departure, Mr. Brandao had been with the bank for more than seven decades according to valor.com.br. Arguably, the bank’s most successful years came while Mr. Brandao was either serving as president or chairman. Fortunately, however, Luiz Carlos Trabuco had directly been working under Lazaro Brandao on the Bradesco board as the vice chairman for three years. Many in the industry were already speculating years ago that Lazaro Brandao was grooming Luiz Carlos Trabuco to take over after him.
Search more about Luiz Carlos Trabuco: http://www.valor.com.br/financas/5194121/trabuco-apesar-das-incertezas-investidores-acreditam-no-pais