Owing To His Undeniable Experience And Managerial Excellence, Luiz Carlos Trabuco Will Be At Banco Bradesco For Many Years To Come
Business success in the modern world is significantly pegged on innovation. Organizations that are successfully able to differentiate their products or services from those of their competitors are often able to attract a higher number of customers. This is a strategy that Brazilian bank, Banco Bradesco has consistently adhered to throughout its seven decades of existence. Under the leadership of its founder, Amador Aguiar, the bank was one of the earliest adopters of digital technology in the Brazilian banking industry. Currently, the push for innovative differentiation is being driven by Luiz Carlos Trabuco, the bank’s president.
Luiz Carlos Trabuco has spent his entire adulthood at Banco Bradesco. The native of the small city of Marilia joined the large financial institution in 1969 when he was only aged 18 as a clerk. He quickly rose from the entry-level position in the coming years and was soon after working at the lender’s head office in Brazil’s capital. He would go on to become one of the youngest directors at the bank following his appointment to the post of marketing director in 1984. He considerably excelled in the role and will mainly be remembered for growing the bank’s media presence at a time when it was undertaking an aggressive expansion drive. By 1999, he was already being considered by the Banco Bradesco board to become the bank’s third president. The bank, however, decided to go with the more experienced Marcio Cypriano as Luiz Carlos Trabuco was considered to be still too young at the age of 47. When Mr. Cypriano’s time to retire came ten years later, the board finally decided to appoint Luiz Carlos Trabuco to the position.
Up until the time of Luiz Carlos Trabuco’s appointment as Banco Bradesco president, the primary growth strategy in the Brazilian banking industry was acquiring smaller financial institutions. Unfortunately, however, the economic troubles that plagued the Brazilian economy in 2009 prevented Luiz Carlos Trabuco from employing this move as the strategy to grow the bank. The global financial crisis that had occurred in 2008 had significantly reduced the available investment opportunities in most markets, including Brazil. Consequently, the innovative Trabuco decided to shift to a slower, but still useful, organic approach according to istoedinheiro.com.br. As a result of this strategic shift, Banco Bradesco was still able to open up over 200 new branches and maintain its profitability in 2009.
Luiz Carlos Trabuco continued to employ this organic approach until a viable acquisition opportunity presented itself in 2015. That year, it was announced by HSBC that it would be looking to sell its banking business in Brazil according to folha.uol.com.br. Despite being smaller than some of the other interested banks, Banco Bradesco moved quickly, under the guidance of Luiz Carlos Trabuco, to initiate the deal. The final price agreed upon by both parties was a significant $5.2 billion figure. That said, the multi-billion dollar deal allowed Bradesco to expand at one go what it would have taken the organic approach six years to accomplish. More importantly, it also enabled Banco Bradesco to realistically threaten Itau Unibanco for the top spot among private banks in the country.
What Luiz Carlos Trabuco has accomplished in the 48 years that he has been at Banco Bradesco is no meager feat. It has taken considerable passion and drive. Even as the bank’s president, Luiz Carlos Trabuco continues to set an example for his employees by being in the office for at least 12 hours a day. He also regularly carries on his duties at the bank into business meetings. He also employs leadership style that greatly leans towards mentorship, consequently ensuring that the leadership standard at the bank remains consistently high.
Find more about Luiz Carlos Trabuco: http://www.valor.com.br/financas/5153264/bradesco-novo-presidente-saira-do-corpo-executivo-afirma-trabuco