When analysts discuss the Brazilian banking industry, they rarely fail to mention one man, Luiz Carlos Trabuco. Who is Luiz Carlos Trabuco? Trabuco is the current President of Bradesco, a financial organization that prides itself as a leader in the Brazilian banking sector.
Luiz Carlos Trabuco took over as President in 2009 after Marcio Cyriono retired. Marcio served as President for 10 years and he helped his bank multiply its market value from about $5 billion to $30 billion within such a short duration. During his stint as President, Marcio worked hard to ensure his company maintained it’s the first position. In 2009, however, the same year Marcio retired, Bradesco lost its first position to Itau Unibanco, a new bank that was formed after Bradesco’s long-time rival, Unibanco, merged with Itau. The new bank not only surpassed Bradesco in terms of size and client base but also surpassed Banco do Brasil in assets, something that was previously considered impossible.
Maintaining market leadership has always been seen as a matter of honor at Bradesco, and the loss had a strong impact on the company. Everyone including Marcio wanted the newly appointed President, Trabuco, to come up with a plan to help Bradesco regain its glory. But Trabuco had other plans. According to him, focusing on client acquisition and retention was more important than going for the first position. Trabuco introduced new strategies that helped Bradesco improve customer experience, increase customer loyalty, and expand its client base. Trabuco’s strategies also enabled his bank to penetrate more regions.
Trabuco also focused on making Bradesco a good working place where teamwork was encouraged and employees were allowed to be part of the company’s decision-making process. Trabuco also introduced a one of a kind platform that brought all Bradesco’s executives together. The platforms enabled centralized decision-making, which allowed Bradesco to expand its scope beyond financial and banking products and services. The centralized decision structure also enabled the bank to pull poorly performing products from the market and also allowed Trabuco to manage the bank smoothly.
Trabuco then introduced another policy that allowed managers to share ideas with each other and run their branches without instructions from him or the bank’s head office in Sao Paulo. The policy encouraged managers to work harder because it made them part of Bradesco’s road to success.
Bradesco Crushes Itau Unibanco
After establishing a strong foundation that promised that Bradesco would remain an indomitable force in a variety of foreseen and unforeseen situations, Trabuco was now ready to get Bradesco’s first position. With the approval of Lazaro Brandao, the Chairman of the Board, Trabuco made a courageous move and bought the Brazilian branch of HSBC for $5.2 billion. The acquisition was bold and was ranked among the biggest acquisitions in Brazil then. After the acquisition, Bradesco’s market share tripled, and this enabled the company to regain its first position.
Education And Career
Born in Marilia on October 6, 1951, Trabuco received his Bachelor’s degree in Philosophy from the University of Sao Paulo. After University, he joined Bradesco and served as a clerk. In 1999, the skilled leader was elected as a Director, a position he held until 1999. He was then appointed as the company’s Vice President, a position he held for 10 years. Trabuco worked under the then President, Marcio Cyriono, and together established plans that are credited for 30% of Bradesco’s successes to date. In the summer of 2009, Trabuco took over the presidency of Bradesco, as the fourth head of the bank.
Throughout his career, Trabuco has received many awards. In 2015, for instance, he was crowned the Entrepreneur of the Year in Finance by Dinheiro. He also received Insurance Personality the Year Award for his exceptional leadership abilities. Trabuco is ranked among the richest CEO’s in Brazil with a monthly compensation package of about $1 million.