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
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.
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.