Luiz Carlos Trabuco is renowned for revolutionizing the Brazil’s financial industry. Currently, Trabuco is the president and CEO of Bradesco bank. Trabuco’s career began in 1969 as a clerk at Marilia agency after graduating from University of Sao Paulo with bachelors in philosophy, science, and letters. After two years he was promoted to Sao Paulo to work at the headquarters of Bradesco Insurance. Soon after, Trabuco was promoted to head the marketing department in the company.
Trabuco’s career changed in 1992 when he received a promotion to an executive director. Surprisingly, Trabuco was also the head of Bradesco’s private insurance. In 1999 he was appointed the executive vice president of the company. Finally, in 2003 he assumed all the managerial power when he was named the president of the insurance company.
Luiz Carlos Trabuco was able to make the following achievements while working at Bradesco insurance company. While working as the marketing director in the 1980s, he was able to transform the publicity of the insurance company by exposing it to the media. This was a bold move as previous directors had not managed to do so. As the president of Bradesco insurance, Trabuco increased the size of the insurance company thus causing a proportional increase in the market share controlled by the corporation. Bradesco Insurance became the largest insurer in Brazil with 25% of market share. In addition, the company was the leading insurer in Latin America.
In 2009, Trabuco left Bradesco insurance to take over as president in Bradesco bank after Marco Cipriano retired. During this time, the bank lost its superiority to Itau Unibanco. Trabuco implemented strategies that would help improve the performance of the bank such as facilitating Bradesco to acquire controlling interest in the Brazilian branch of HSBC for the US $ 5.2 billion. This was the largest acquisition in Brazil in 2015.
The acquisition has helped Bradesco to outperform Itau Unibanco as the bank has the biggest market share. Additionally, the bank’s number of branches, account holders, and total investment funds are higher compared to its rivals. Trabuco’s management has enabled the bank to increase on its assets, deposits, and loans accessed.
Trabuco has worked in Bradesco for over fifty years, starting in the insurance sector, and he is currently working in the banking industry. Through the years he has contributed to the growth of profits of Bradesco group holdings. He was renowned for his sound leadership when he was the chairman of the company’s insurance. In the present moment, he is fighting to restore the position of Bradesco bank largest private bank in Brazil. Itau Unibanco is currently the largest bank as its value of assets surpasses even Banco do Brazil.
Trabuco was the best choice for the Bradesco board, as loss of market leadership is a great blow group. Bradesco bank seeks to restore its glory through acquisitions of other medium-sized banks. The company recently acquired HSBC branch in Brazil for US $ 2.5 billion dollars. The acquisition was a good strategy for the company as it increases its market share as well as the value of assets. Bradesco bank is looking forward to making other acquisitions to strengthen its position.
According to Marcello Telles, Trabuco is distinct from other bankers. First, he did not graduate in administration, economics or accounting like other business executives instead; he graduated in philosophy. Moreover, he did socio-psychology in his postgraduate studies. He is a man of simple habits as he arrives around 7 o’clock in the bank and leaves at 6 o’clock unless during extended meetings. Finally, he is loves working for Bradesco. He proved this when declined President Dilma Rousseff’s offer to take over the Ministry of Finance.