Luiz Carlos Trabuco: From Being A Clerk At Bradesco To Being Its President

Luiz Carlos Trabuco is a highly respected banking executive hailing from Brazil. He currently serves as the president and executive vice chairman of Bradesco, one of the largest financial institutions in Latin America. In his capacity as president, Luiz Carlos Trabuco oversees the operations of the Bradesco bank and its two subsidiaries: Bradesco Seguros and Bradespar. His opinion on issues related to the economy is highly sought after by government officials and members of the press and has previously been invited to speak at forums during the annually held World Economic Forum in Davos, Switzerland. That said, Luiz Carlos Trabuco would not be where he is today if it were not for Bradesco, and he has in turn stuck with the bank for close to five decades.

Background

Luiz Carlos Trabuco was born 65 years ago in the city of Marilia. He earned an undergraduate degree in Sociology from the University of Sao Paulo. Later, he went on to earn a graduate degree in Socio-Psychology from the Sao Paulo-based, Fundacao School of Sociology and Politics.

Starting Out at Bradesco

Luiz Carlos Trabuco was employed by Bradesco in 1960. He was aged only 18 then and was required to fulfill the duties of a clerk. He, however, surprised many by mastering his responsibilities quite quickly. Successive promotions then followed, ultimately leading him to being named the marketing director in 1984. He then went on to serve as the president of Bradesco-owned Bradesco Previdencia.

Cutting His Teeth in the Insurance Industry

In 1999, aged 47, Luiz Carlos Trabuco was appointed the vice president of Bradesco Seguros. While he had previously worked in other sectors of banking, it was his first time working in the insurance industry. Then, after only four years of serving as vice president, he was in 2003 promoted to the president of Bradesco Seguros. Up until that point, while he was quite famous at the bank, he was still relatively unknown in the industry. However, it did not take long for him to impress his doubters. Soon after taking the helm, he initiated an aggressive drive to grow the insurer’s agent network. The shrewd move caught many of the other industry players off-guard and thus further strengthened Bradesco Seguros’s hold of the market leadership position. This strategy also earned Luiz Carlos Trabuco his first Insurance Personality of the Year award from coverage magazine. He would again win the award in 2007. While he found a fairly healthy company when he took over in 2003, he left an undisputed industry giant when he left it in 2009. During his tenure, the company’s market share grew to 25 percent, and its value doubled to about R$78 billion. The company’s importance to the Bradesco brand also drastically increased as its total contribution to the bank’s financials grew by nine percentage points.

Taking the Reins at Bradesco

In 2009, Bradesco’s then president, Marcio Cypriano hit the mandatory retirement age, for presidents, of 65. With the bank losing out the number one position among private banks in the industry to Itau Unibanco only a year prior, a quick decision had to be made about Cypriano’s succession. The board saw no one better qualified to take over than Luiz Carlos Trabuco. With four decades under his belt at the bank and having just had six highly successful years at Bradesco Seguros, many independent observers in the industry also agreed with the board. Since then, he has taken the bank from strength to strength by cementing its position among the top in the industry and growing its assets to approximately $392 billion.https://www.bradescori.com.br/site/conteudo/interna/default3.aspx?secaoId=572

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Sources:

http://www.prnewswire.com/news-releases/nexbank-partners-with-dallas-neighborhood-homes-to-expand-affordable-home-ownership-in-southern-dallas-300324115.html

https://www.nexbank.com/about-nexbank-capital.htm

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