Luiz Carlos Trabuco Has been Highly Impressive In Every Position He Has Held At Bradesco: Do Not Expect Him Expect Him To Be Different As Chairman
To make it as a CEO, there are certain key qualities that one needs to exemplify. Two of these qualities – loyalty and ambition – are wholesomely embodied by current Bradesco chief executive officer, Luiz Carlos Trabuco.
After serving as the CEO of the company for the last nine years, the Brazilian banker was last month promoted to chair the bank’s board. He took over the position from the highly decorated banking veteran, Lazaro Brandao who decided to hang his boots after 75 years in the financial sector. Among Luiz Carlos Trabuco’s earliest responsibilities as the new chairman will be to oversee the selection of the man or woman that will replace him.
Started From the Bottom
While Luiz Carlos Trabuco has held some of the most influential leadership positions at Bradesco, he journey at the bank started at the very bottom. He became an employee at the lender in 1969 when he was still just a teenager. He was first employed in the entry position of a clerk at his local town’s Bradesco branch. An important thing to note is that at the time he did not have any either an academic background in a finance-related field or any experience in the banking industry. In other words, he was as green as one could be. He, however, did have the ambition and loyalty that would drive him to later become one of the most important people in the bank’s 74-year history.
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Impressing at Every Juncture
Luiz Carlos Trabuco’s time at Bradesco has been characterized by one promotion after the other. Within two years of joining the bank, he promoted to work in the bank’s head offices located in Sao Paulo. From then on he never looked back, building on strength to strengths to consistently beat out his peers to influential positions. By 1984, he was already serving as a department director. He was in charge of the highly influential marketing department. Until then, the department had been criminally underutilized, but Luiz Carlos Trabuco managed to quickly remedy that by forging closer ties between the bank and members of the press. As a result, the bank increasingly got airtime on Brazilian media, a move that greatly aided the bank’s aggressive expansion drives.
However, the promotion that earned him recognition across the entire financial sector came in 2003 when he was named the CEO at Bradesco Seguros. He had been at the insurance subsidiary for the previous four years and was consequently well acclaimed with its operations. Consequently, he aggressively hit the ground running within his first year in the position. As a consequence, he was that year’s insurance personality of the year. By the time he was leaving the insurance company, he had managed to more than double its value and increase its domination of the market. The Bradesco board took note of his high performance and consequently decided to name him CEO in 2009 after the retirement of his predecessor, Marcio Cypriano.
Challenges and Opportunities Ahead
Even in the new position of chairman, Luiz Carlos Bradesco can expect some opportunities and challenges ahead. In addition to having a new CEO coming in with fresher ideas, Trabuco will also be encouraged by the fact that the Brazilian economy is doing a lot better than it has been in the last two years. Growing the bank’s margins will, therefore, be a lot easier than it was during his tenure. On the other hand, the key challenge will be to continue gaining ground on the bank’s largest competitor, Itau Unibanco. Itau Unibanco remains the largest private lender in the country with Bradesco being a close second bank.
Find more about Luiz Carlos Trabuco: https://www.terra.com.br/economia/trabuco-assumira-presidencia-do-conselho-do-bradesco-banco-nomeara-novo-chefe-executivo-em-marco,9fb1d7fe927d7f26678a7543f82f02edw3u6oihm.html