The banking industry occupies an essential role in every economy. Banks provide the credit and expertise needed to initiate and sustain economic growth. Consequently, having strong and competitive banks is welcomed by every country, most of all Brazil. The Brazilian economy has just recently entered the realm of industrialized markets and is thus in great need of financial products to facilitate the large social and infrastructural projects being undertaken in the country. Therefore, the individuals who lead the largest banks in Brazil wield considerable power and sway over the economy. Only individuals with the utmost integrity, qualifications and experience should hold this power. This fact was not lost one of the largest private banks in the country, Bradesco when it decided to name Luiz Carlos Trabuco its CEO in 2009.
Luiz Carlos Trabuco was born and raised in Marilia, Brazil. Coincidentally, this was the first city in which Amador Aguiar, Bradesco’s founder, opened a branch office in 1943. Luiz Carlos Trabuco attended the University of Sao Paulo where he graduated with a degree in philosophy before joining Bradesco as a clerk in his hometown branch. His work caught the eye of his superiors, and he was soon on his way to the capital, Sao Paulo, to work at the bank’s headquarters. A series of high-stake promotions then followed before he was asked to head up Bradesco Seguros – the bank’s insurance division.
His time at Bradesco Seguros gave Luiz Carlos Trabuco the platform to express the true extent of his talents. He succeeded in growing the insurance division’s contribution to the bank’s net profit from 26% to a highly respectable 35%. He also grew Bradesco’s market share, based on the total premiums, by two percentage points. Befittingly, he twice received the Insurance Personality of the Year Award. In fact, his time at Bradesco Seguros was so successful that hat only 47 he was thought to have an outside shot at being named Bradesco’s President. The position ultimately went to Luiz Carlos Trabuco’s predecessor, Marcio Cypriano but many in the banking industry took note of Luiz Carlos Trabuco’s undeniable potential.
In 2009 Luiz Carlos Trabuco was named Bradesco’s President. Despite Bradesco being close to seven-decades old at the time, he became only its fourth president ever. He took over from Cypriano who had grown the company’s market value six fold in only about ten years. At the same time, however, Bradesco was also losing ground to close competitor, Itau Unibanco. Consequently, Luiz Carlos Trabuco hit the ground running with the goal of opening over 200 new branches within his first nine months alone.
Despite there only being a few viable mid-sized banks to acquire, Luiz Carlos Trabuco has been able to grow Bradesco considerably. In addition to expanding the branch network, he has also revised the bank’s rates to attract a greater pool of customers. However, his single most important contribution to Bradesco came in 2015 when he oversaw the bank’s $5.2 billion purchase of HSBC Brazil. Owing to that deal alone, Bradesco was able to surpass Itau Unibanco in all but a few market metrics. That year he was named the Entrepreneur of the Year owing to the momentous ground gained with the HSBC deal.
Despite the immeasurable success he has experienced over the years, Luiz Carlos Trabuco remains as humble and driven as when he first joined Bradesco. He prefers not to openly show his wealth and often holds his tongue till only when required to speak. Brazil is fortunate to have Luiz Carlos Trabuco as one of the people indirectly guiding its growth.
Learn more about Luiz Carlos Trabuco: https://br.investing.com/news/mercado-de-a%C3%A7%C3%B5es-e-financeiro/bradesco-retomada-de-credito-a-partir-do-fim-de-2017-diz-trabuco-508466