The financial industry in Brazil was last month rocked by some astonishing news coming from Bradesco. The large bank announced that its current president Luiz Carlos Trabuco would be promoted to the position of chairman. Consequently, a new president would be chosen from within the bank’s ranks.
Overview of the Bradesco Brand
Bradesco was founded by Amador Aguiar in 1943 in the city of Marilia, Brazil. At the time of its formation, Aguiar envisioned Bradesco as a bank that would help in the advancement of the social welfare of its customers. The bank has since largely stayed true to this initial objective. Today, Bradesco is the second largest private lender in the country. Its enviable customer portfolio is just a little shy of 30 million, and it directly employs about 100,000 employees. Further, it is one of the most stable financial institutions in the country with its asset-base standing a considerable $400 billion. With Brazil still having a considerable portion of its population, Bradesco has increasingly positioned itself to absorb these new customers and thus pushing it to become the largest private bank in the country.
A New President
Despite being in existence for more than seven decades, Bradesco has thus far only had four presidents. The relatively low number of leadership replacements points to the fact that the bank often gets it right with its leadership decisions. However, with the bank now bigger than it has ever been before, it is more important than ever that it chooses the right person to assume the position. Fortunately, there is already a large pool of leadership talent within the bank. The bank will likely, therefore, have an easy time selecting a new president from among its seven vice presidents.
More on Luiz Carlos Trabuco
Luiz Carlos Trabuco was born in the small city of Marilia, Brazil in 1951. A talented individual, he was employed by the Bradesco branch in his local town as a clerk in 1969. At the time, he was only 18 and thus lacked an education in banking, finance, accounting or related field. However, one could not tell this fact as his work consistently above that of his peers in quality. Consequently, only two years after joining the bank, he was singled out for a promotion that saw him transfer stations from Marilia to the bank’s headquarters in Sao Paulo. His star only continued to shine brighter in the city as he was in 1984 named to become the department director for the marketing department – thus making him one of the youngest departmental heads in the bank’s history. As with his previous postings, Luiz Carlos Trabuco thrived in his new position despite having relatively no background or prior experience in it. His greatest contribution, in particular, was mending the relationship between Bradesco and the press, thus making the Bradesco brand more visible to members of the public. Slightly more than a decade after being promoted to another post, Luiz Carlos Trabuco was then named the president of Bradesco Seguros, an insurance company owned by the bank. In total, he spent six successful years at the company. Over the course of his tenure, the insurer doubled in size and cemented its position as the undisputed market leader.
In 2009, having spent close to four decades at the bank, Luiz Carlos Trabuco was named its president. His appointment followed the retirement of Marcio Cypriano. He has now held the position for nine years, consistently expanding the brand, even in tumulus economic conditions. As he now assumes the position of chairman, there is little doubt that he will be looking to build on the foundation work he did as president and continue to expand the bank even more. Read more:http://www.hoovers.com/company-information/cs/marketing-lists.banco_bradesco_s_a.294a878ad3b224d4.html?oid=2462417000000000&cid=96010000000000