Bradesco Successes Solidify Luiz Trabuco Legacy

     Born on 6th October 1951, Luiz Carlos Trabuco began working for Bradesco as a clerk in 1969 as a teenager, and he went on to dedicate over four decades to the giant financial institution. Working various jobs to get through college, he gained an unmatched and in-depth experience that bolstered his career and helped him rise through the ranks at Banco Bradesco. His meteoric rise has been based on a work record that speaks for itself and a dogged determination. He has served in almost every capacity within the group but it his appointment to the head of Bradesco Seguros that his career began to sparkle.

While at Bradesco Seguros, Luiz Carlos increased the subsidiary’s contribution to the group’s financial outcome bring in 35% of the group’s earnings. The company’s return on equity also took a major turn and rose by almost 10%. These successes and the fact that Seguros doubled its asset base during his tenure contributed greatly to his appointment as President of Banco Bradesco. Though a giant, the bank was struggling to stay alive in the market when he took over.

The previous president, Marcio Cypriano had led an acquisition spree just before his exit, and it fell to Luiz Carlos Trabuco to consolidate the different cultures and policies that came with the new acquisitions. Not only did he have to harmonize all the operations to Banco Bradesco standards, but he also had to plug a few leaks that were draining not just money but also human resources. A bad culture had culminated in high employee turnover, and a bad pension scheme had almost sunk the bank.

After extensive restructuring, Luiz Carlos Trabuco introduced innovations at the bank. Though he is best known for the historic acquisition of HSBC Brazil, he is also behind many of the bank’s new wave of brand promotion. A loan scheme for foreign students was introduced, this concept was unheard in Brazil, and it gave Bradesco a leg over its competitors. For the younger Brazilians, an online banking platform was introduced, and this had a response that was almost instant.

With his recent appointment to the post of chairman, Luiz Carlos Trabuco is not only head of the second largest financial institution in Brazil. He is at the top of the business world highly sought after with not only corporate headhunters after him, but there was once an offer for him to take the title of Brazil’s Minister for Finance.

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