Luiz Carlos Trabuco Leaves Bradesco

The banking industry is vital to the growth of Brazil. As more people move the country, the need for financing and loans will only increase.

Luiz Carlos Trabuco was the CEO of Bradesco for many years. During his time as CEO, he made important changes to the company. Although many of his ideas were good, he also made a lot of mistakes. As a result, he is no longer the CEO of the company.

The good news for Bradesco is that a search is already happening for the next CEO. With the success of Luiz Carlos Trabuco, it needs to be someone who is innovative and a hard worker.

Changing the Culture

When Luiz Carlos Trabuco first started at Bradesco, the overall culture of the company was not good. The company was threatening layoffs, and few people thought that the company was doing well. Some of the most talented workers were leaving to go to competitors.

According to Bloomberg.com Luiz Carlos Trabuco decided to start investing in the overall culture at Bradesco. He is a great example of how much one person can change a company. He quickly instituted several changes that rapidly improved morale.

Not only did he increase the pay of workers, but he also allowed flexible working hours. This is a huge benefit for anyone who has to spend a lot of time driving to work. Luiz Carlos Trabuco quickly saw that this was a good idea because turnover at the company dropped.

Read more: Brazil’s Bradesco to choose new CEO among internal candidates, CEO Trabuco says

Early Career

One of the reasons that Luiz Carlos Trabuco was such a quality CEO is that he started at the bottom of the industry. Unlike a lot of business leaders in Brazil, Luiz Carlos Trabuco did not come from a wealthy family. He had to work hard in order to go to college.

During his time in college, he started working at a bank as a clerk. Although it was just a part-time job, he really enjoyed working with customers and numbers. When he graduated from college with a degree in business, he knew that he wanted to go into banking.

Luiz Carlos Trabuco quickly got promoted to a better job. Throughout his career, he always took on more challenges and wanted to help other people do the same.

Banking Inudstry

Luiz Carlos Trabuco is leaving at a good time for Bradesco. Although he made some mistakes, the company is in a good financial state. There are many prominent business leaders who want to get the CEO role.

The banking industry is improving every year in Brazil. The government has put various restrictions on getting loans in the country. This is actually helping banks because it provides organization to the industry. At one time, only wealthy people could borrow money because the requirements were so high. Today, people are borrowing money to purchase homes and to start companies.

Luiz Carlos Trabuco is the type of banker who wants to make a positive impact in the world. Now that he has left Bradesco, he is working with charities in his local area. He is really excited about some of the projects that he is working on. He wants to provide children with an opportunity to have success despite their economic background.

See: http://www1.folha.uol.com.br/mercado/2017/10/1926243-proximo-presidente-do-bradesco-saira-da-diretoria-do-banco-diz-trabuco.shtml

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Meet Luiz Carlos Trabuco, One Of Latin America’s Most Powerful Bankers

Bradesco, one of the most powerful banking brands in Latin America appointed Luiz Carlos Trabuco as executive president in 2009, a position that only four executives have held in the bank’s 65-year history. Luiz Carlos Trabuco assumed leadership of Bradesco with a major challenge ahead of him: the executive board was seeking to once again become the largest retail bank in Brazil and Latin America, a position held until the merger of Itau and Unibanco.

Prior to his appointment to lead Bradesco, Luiz Carlos Trabuco served as vice president of the bank’s lucrative insurance division. He has been at Bradesco since the early 1970s, and his name had previously been mentioned as one of the most likely candidates to succeed Márcio Cypriano, a man who was responsible for strategically acquiring the Brazilian operations of JPMorgan Chase, American Express and HSBC.

When Luiz Carlos Trabuco took over as president of Bradesco, the bank was valued at nearly $134 billion, which meant that it lagged behind Itau Unibanco by about $47 billion. The HSBC acquisition gave Bradesco a $5 billion boost, which the new president considered to be first of many steps that needed to be taken in order to once again become the strongest bank in Latin America. Until a few years ago, Bradesco mostly relied on mergers and acquisitions to increase its financial footprint; that has largely changed with Luiz Carlos Trabuco at the helm, for he believes in a more organic approach to banking.

Bradesco has traditionally been known as an institution that provides quality banking services; this distinction often translated into higher fees. Trabuco sought to change this in 2015 as he ordered a reduction of fees across all of Bradesco’s products and services. At a time when most banks in Brazil were trying to make the most of the fees they charge, Bradesco took a more traditional route of increasing deposits at all costs. Another measure ordered by Luiz Carlos Trabuco was to increase the presence of Bradesco by more than 200 new branches in regions where customers enjoy brick-and-mortar banking instead of going online.

Luiz Carlos Trabuco is a firm believer in reaching customers through meaningful marketing and public relations. His formal education was not in banking or finance; his degrees from the University of Sao Paulo are in philosophy and sociology. When he took over the Bradesco’s marketing department in the 1980s, he modernized the bank’s image through a clever public relations campaign that welcomed journalists to cover an institution that had been mostly known as a stuffy refuge for “old money.” Luiz Carlos Trabuco also believes in segmentation of services; he believes that Brazilians of all income levels should be able to bank with Bradesco, but he also thinks that clients who enjoy higher net worth should receive preferential treatment.

It is worth mentioning that Luiz Carlos Trabuco is credited with increasing the value of Bradesco’s insurance division by more than 35 percent during his tenure as vice president. His effort effectively made Bradesco the most valuable insurance brand in Latin America. Under his leadership, the bank has been able to quickly overtake the market position previously enjoyed by Banco do Brasil.

Find more about Luiz Carlos Trabuco: http://www1.folha.uol.com.br/mercado/2015/08/1666207-para-presidente-do-bradesco-crise-e-grave-e-solucao-exige-grandeza.shtml