Luiz Carlos Trabuco: From Clerk to President of Bradesco
Business acumen, vision, motivation, passion, and dedication are some of the traits that describe top leaders in various sectors. Luiz Carlos Trabuco, President of Bradesco, heads the second largest private bank in Brazil.
Marilia born Luiz Carlos Trabuco holds a philosophy degree from the University of Sao Paulo and a sociopsychology postgraduate degree from the Fundacao School of Sociology and Politics, Sao Paulo. For more than 40 years, Luiz Carlos Trabuco has worked with Bradesco. Luiz Carlos Trabuco’s first posting was as a clerk at the Marilia branch. Soon after, he moved to the headquarters in Sao Paulo. By 1984, Luiz Carlos Trabuco took on the role of Marketing Director. As head of the marketing board, he redefined the bank’s publicity and its approach to the media. Four years later he became President and executive director of the Bank’s Private Pension Company, and in 1999 he moved to Bradesco Seguros as executive Vice president. Luiz Carlos Trabuco also served on the board between 1999 and 2005.
From 2003 to 2009 Luiz served as President of Bradesco Seguros. During his time as head of Bradesco Seguros, the company’s size doubled and commanded 25% market share in the insurance business, making it the leader in the industry in Latin America. The total contribution of Bradesco Seguros to the group net income averaged between 30 to 35 %. In 2007 Luiz Carlos received the Insurance Personality of the Year award.
Luiz Carlos Trabuco succeeded Marcio Cypriano as Bradesco’s fourth president. During Marcio Cypriano’s tenure, Bradesco’s market value grew to $30 billion from $5 billion in ten years. Luiz Carlos Trabuco’s challenge was to identify growth opportunities for Bradesco whose asset value was $422 billion then. Credit Suisse estimates suggested that at the bank’s return on equity would fall to 21.3 % in 2009 from 23.4% the previous year.
Luiz Carlos Trabuco began his term in March 2009 and purposed to lead the company to offer excellent services and products to all its location. At the time, the bank’s fiercest rival, Itau Unibanco, had overtaken it in the banking rankings. Rather than focus on the pressure of regaining the position, Luiz Carlos Trabuco channeled his efforts to improve internal efficiencies, customer experience, and the products and services offerings. With minimal opportunities to pursue mergers and acquisitions in the market, Luiz Bradesco’s strategy focused on organic growth, reduction of rates to reduce growth and opening other branches. Even before his appointment as President, Luiz Carlos Trabuco was among the people who proposed segmentation of the services and products. Founder and former president, Amador Aguiar favored preferred same services for all.
Currently, Bradesco has differentiated its services to feature special checks and specialized agencies that serve high-end clients. Unibrad, a corporate university introduced by Luiz Carlos Trabuco purposes to personalize the recruitment and promotion of employees and executives. He also enabled a culture that favored collectivism, free exchange of ideas and perspectives and inclusive decision making. In 2015, Bradesco led by Luiz Carlos Trabuco acquired the Brazilian subsidiary of HSBC. The transaction worth $5.2 billion was the largest in the year. The acquisition enabled Bradesco to increase its branch networks, number of customers and market influence. Also, the deal strengthened Bradesco’s competitiveness in the Brazilian market. For Luiz Carlos Trabuco, implementing the transaction had made it possible to achieve results that would take about six years through organic growth. The Money named Luiz Carlos Trabuco the Entrepreneur of the Year in Finance based on his role in the purchase of HSBC Brazil.
Luiz Carlos Trabuco, a father of three, has a calm and simple demeanor. Unlike most executives in a similar stature, he does not live a flashy life. Market estimates suggest that Luiz Carlos Trabuco earns about 1 million dollars a month.http://istoe.com.br/5442_NOVO+COMANDO/