Brazilian Economic Outlook Likely To Favor Banco Bradesco’s Growth

Certain traits make an individual the ideal president of an organization. The president not only deals with the day-to-day operations of an organization, he/she is also expected to maintain a long-term approach targeted at safeguarding stability and profitability. Additionally, the position demands that one think outside the box and remain calm under pressure. Owing to this unique and stringent combination of traits, very few employees successfully transition to the position of president at their organizations. However, one individual that has served as a long-term employee and gone on to become a competent president is Luiz Carlos Trabuco – the man currently at the helm of Bradesco.

Bradesco employed Luiz Carlos as a clerk while he was still a teenager in 1969. However, being a fast learner, he did not serve in the entry position for too long. Less than two years later, Trabuco was promoted to a position at the bank headquarters in Sao Paulo. By 1999, aged only 47, Trabuco was already being considered for the position of bank president. The Bradesco board, however, chose to appoint Luiz Carlos Trabuco’s eventual predecessor, Marcio Cypriano. After missing out on the post of the bank president, he was elected to deputize the vice president of the bank’s insurance subsidiary, Bradesco Seguros. Four years later, Mr. Trabuco was promoted to head the insurance company. In the six-year period that he led the subsidiary, he grew it to become the largest insurance company in the country. With his star continuously rising at Bradesco Seguros, the bank’s board quickly settled on him to take over as bank president from a retiring Marcio Cypriano in 2009. His has diligently served in the position since.

Read more: Bradesco to Choose Board Member as New President, says Trabuco

Luiz Carlos Trabuco’s influence at Bradesco will likely increase in the coming years as the Brazilian economy begins to improve. While his tenure thus far as bank president has been highly successful, it was still significantly held back by a struggling Brazilian economy. The economy first experienced economic jitters in 2009 and before it could comprehensively recover it fell into a depression in 2015. As such, Luiz Carlos Trabuco has mostly had to rely on a combination of innovation and shrewdness to safeguard the large lender’s margins. However, now that the Brazilian economy is expected to fare slightly better in the next few years, he will have the conducive environment he has always craved to take Bradesco to the next level.

Luiz Carlos Trabuco will particularly be eager to make Bradesco the top private lender in the country again. For more than five decades, the bank was undoubtedly the largest among private banks in the country. Unfortunately, however, that all changed three months before Luiz Carlos Trabuco assumed office as Bradesco president owing to the high-stakes merger between Banco Itau and Unibanco. The financial giant created as a result of the union, Itau Unibanco easily unseated Bradesco as the leading private lender according to valor.com.br. Consequently, after assuming the bank’s presidency, Luiz Carlos Trabuco immediately sought to restore Bradesco’s pride by reclaiming the spot. Close to nine years later, Bradesco is now within touching distance of Itau Unibanco thanks to the 2015 acquisition of HSBC.

The HSBC purchase, valued at approximately $5 billion, is the largest ever acquisition completed by Bradesco in its seven-decade history. The deal that was almost-entirely engineered by Luiz Carlos Trabuco grew Bradesco’s value into the hundreds of billions and pushed its branch network to well over 5,500 offices. Since the acquisition was completed in a year of economic recession, it attracted the attention of many in Brazil’s financial industry. Unsurprisingly also, Luiz Carlos Trabuco was that year’s recipient of the entrepreneur of the year award in the finance category.

Learn more about Luiz Carlos Trabuco: https://economia.estadao.com.br/noticias/geral,prisao-dos-irmaos-batista-nao-impactam-risco-da-jbs,70001996105