In Brazil, banks play a primary role in sustaining the economic growth levels in the country. In March 2009, Luiz Carlos Trabuco took over the presidency of the second largest bank in Brazil known as Bradesco. Trabuco is the fourth person to occupy the position in the close to 70 years of the company’s history. Since then Luiz Carlos Trabuco has led Bradesco with approximately R $ 900 billion in assets and 27 million account holders. He aims at making Bradesco the largest Brazilian bank by improving the internal performance, opening 211 bank branches, as well as enhancing technology platforms to lure young potential clients. Luiz Carlos Trabuco is a top business executive who guides the growth of Bradesco bank in Brazil.
About Luiz Carlos Trabuco
Luiz Carlos Trabuco hails from Marilia, Brazil, and has been working at Bradesco bank for the past forty years. In 1969, aged 18, Mr. Luiz Carlos Trabuco kick-started his career at the bank. Since then, he has held various positions within the company. For example, in 1984, he served as a department director and in 1998 he was appointed Managing Director Executive. The following year, he was elevated to executive VP, and in March 2003, he became the president of Bradesco Seguros, the company’s insurance company. Under Luiz Carlos Trabuco’s six-year of excellent management from 2003 to 2008, Bradesco Seguros doubled in size from R $ 32 billion of assets to R $ 78 billion. To date, Bradesco Seguros has contributed about 30% of the company’s profit. This performance of-of Bradesco Seguros leveraged Luiz Carlos Trabuco to replace Marcio Cypriano as the President of the company since it does not allow sitting presidents who are over 65. Throughout the company’s history, there have only been three presidents; Amador Aguiar, founder of Bradesco, Lazaro Brandao, and Marcio Cypriano.
In 1951, Luiz Carlos Trabuco obtained a philosophy degree and graduated from the University of São Paulo. He also holds a post-graduate degree in Socio-Psychology from the School of Sociology and Politics of São Paulo. Luiz Carlos Trabuco is different from other bank executives who have majored in economics, finance, or accounting. In 2015, he bought HSBC for 5.2 billion dollars with the approval of a Chairman of the Board, Lázaro Brandão. This acquisition will help the ability of Luiz Carlos Trabuco to absorb banking, insurance, and large asset management during high inflation, rising unemployment, and the slumping demand for credit in Latin America’s largest economic sectors.
For the next three years, Luiz Carlos Trabuco aims at maximizing on the take over of HSBC by adapting products designed by various financial startups. As a result, Mr. Luiz CarlosTrabuco was named the entrepreneur of the year in the finance category by MONEY. Also, in 2006 and 2007, Luiz Carlos Trabuco was named The Insurance Person of the Year. In 2009, he appeared on the 100 most influential list in Brazil because besides from growing the bank, he has revised the bank rates to attract a greater pool of clientele. Over the past 14 quarters, the non-interest expenses of Bradesco has grown below annual inflation.
On October 7, 2017, shareholders of Brazil’s Bradesco are set to vote on a proposal aimed at changing the age limit for its CEO to 67 years from the 65 years. Bradesco is expected to choose a new Chief Executive Officer next year to replace Luiz Carlos Trabuco who will be 65 in October. As a result, the change will enable Trabuco to remain and lead as the bank’s CEO for two more years.
Despite the success story of Luiz Carlos Trabuco Cappi over the years, he continues to remain humble and avoids showing off his wealth openly.
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