When Luiz Carlos Trabuco took over the presidency of Bradesco in 2009, the Brazilian bank and Brazilian economy were facing significant challenges. The economy was facing significant uncertainties including decelerating financial sector and low growth of loans. Bradesco had just lost its position as the country’s leading insurance company to its fierce competitor, Itaú Unibanco. Additionally, its return on equity was on a decline. Under the leadership of Mr. Trabuco’s predecessor, Márcio Cypriano, Bradesco has rapidly expanded its network through acquisitions. However, the last few years of his reign at the helm of the bank was marked by a considerable decline in the number of suitable banks to acquire in order to increase its network and asset base.
Despite these challenges, Luiz Carlos Trabuco backed by his over four decades of working at Bradesco, strong academic background and excellent track record of leadership, set out ambitious plans to open a staggering 211 new branches. His vision was to promote the bank’s organic growth marked by internal development and reduction of rates to increase its client base.
A Bradesco Veteran
Luiz Carlos Trabuco has worked at Bradesco for over forty years. Since joining the bank as a clerk, he has meteorically risen through the bank’s ranks serving in a wide variety of roles. He joined the bank in 1969 at the bank’s branch in Marília, his hometown. In 1971, he was promoted to work at the company’s headquarters in Sao Paulo he continued his rise through the Brazilian corporate sector. He was appointed to serve as the company’s director in charge of marketing in 1984. It is while heading the bank’s marketing docket he began making significant waves within Bradesco and Brazilian corporate sector at large. He oversaw the bank’s modernization initiative, which opened it up to media.
It was an era that marked his first few steps towards becoming Bradesco’s president. He served as the president of the bank’s private pension company while also doubling up as its executive director for close to six years up to 1998. Luiz Carlos Trabuco was promoted to serve as the executive president of Bradesco’s Rio de Janeiro-based insurance subsidiary, Bradesco Seguros, in 1999 before rising to its presidency in 2003. During his tenure at the helm of the insurance subsidiary, he oversaw the doubling of its size, increase in its Brazilian and Latin American insurance market share. The insurance company, which he still heads, became one of the leading contributors to Bradesco’s net profit. He was later promoted to serve as Bradesco’s vice president before finally being appointed as the president.
Academic Background, Leadership and Management Style
Luiz Carlos Trabuco is a visionary leader who has employed an expansionism model towards ensuring that Bradesco and Bradesco Seguros becoming market leaders. His tenure at Bradesco Seguros saw the insurance company become a market leader not only in Brazil but also Latin America. He increased the company’s market share to 25 percent. He has continued with the same expansion concept at Bradesco with the acquisition of new banks and markets by opening new branches. He saw the company acquire HSBC Brazil for a staggering $5.2 billion in 2015. He has also created a corporate university to churn out Bradesco’s next top talents to take over its leadership.
In 2015, he named the Entrepreneur of the Year under Finance category by Dinheiro. The fourth president of Bradesco has won the Insurance Personality of the Year Awards twice especially during his time at Bradesco Seguros including in 2003 and 2007. He is an alumnus of the University of São Paulo where he graduated with Bachelor of Arts degree in Philosophy before studying sociopsychology for his postgraduate degree at the School of Sociology and Politics of São Paulo. He is a member of several local and international organizations including Brazilian Federation of Bank Associations and the International Association of Economics Studies of Insurance.
Learn more about Luiz Carlos Trabuco: http://www.camar.sp.gov.br/images/imagesnoticias/851/principal.html