Luiz Carlos Trabuco Is The New Chairman Of Bradesco And The Bank’s Stock Is Moving In The Right Direction
Brazil may be out of the running for the World Cup, but Brazilian banks are never out when it comes to making money. In good economic times and in bad, the big private banks in Brazil make their investors happy. Bradesco, the second largest bank in Brazil, is a good example of a big bank that knows how to acquire assets, use insurance plans, and to change their business model in order to beat their profit projections. It’s not easy turning a profit in Brazil these days, but men like banker Luiz Carlos Trabuco make it look easy. Read this article about Luis Carlos Trabuco at Estadao.
Luiz Carlos Trabuco is the Chairman of the Board of Banco Bradesco, the second biggest bank in Brazil in terms of assets under management. Trabuco is a Bradesco built banker. He started his banking career in 1969, and he never left Bradesco. Luiz went through the bank’s training program, and he made a name for himself in the Bradesco organization. Trabuco became a bank director in the 1980s and a Vice-President in the 1990s. In 2003, he took over Bradesco’s insurance division, Seguros. He turned Seguros into one of the major profit centers for the bank. At the end of 2008, he became Bradesco’s president and CEO. Read this article at Info Money.
When Luiz Carlos Trabuco took over in January 2009, the bank was facing several challenges. Brazil’s middle class was emerging, and they needed a bank that offered new services like Internet banking. Luiz Carlos Trabuco’s executive team developed a usable Internet banking platform, and Bradesco’s IT department began working on an efficient mobile banking platform so Brazilians could bank anywhere. Today, Bradesco’s mobile banking services are as good as any bank’s mobile services in the world, according to Chairman Luiz Carlos Trabuco.
Now that Trabuco has a new executive team in place, Bradesco’s stock is putting a smile on faces across the country. Wall Street likes what Trabuco is doing in the digital banking space, and so do bank investors and millions of Brazilians. Bradesco may be number two in Brazil, but Bradesco customers say the bank is number one when it comes to offering new banking services.