When you think of Brazilian banking executives, few are as adept as Luiz Carlos Trabuco when it comes to successfully managing the financial industry. Such an elite team has been thoroughly subjected to intense training in some of the largest projects in the country.
Through their position, their opinions and suggestions are closely monitored and regarded in high standards in leading newspapers and magazines. As a testament to his proficiency, Luiz Carlos Trabuco recently grabbed the headlines when he was appointed Bradesco’s CEO – Brazil’s second largest private bank.
Aged 57, Luiz Carlos Trabuco possesses that unique ability to invigorate rapid transformations in the financial sector based on the market evaluation. His predecessor, Cypriano, is credited with steering the company to unprecedented heights, and more so, revamping the company from $5 billion to $30 billion. Mr. Luiz Carlos Trabuco’s appointment is widely considered as recognition into an elite team of three managers who had previously served in the same position. Slated to take office in March 2016, Luiz Carlos Trabuco’s appointment primarily stems from his vast experience and technical knowledge of the company’s operations.
While at the helm of the company, Luiz Carlos Trabuco has undeniably made several achievements crucial in maintaining the company’s status as a top enterprise. Under his supervision, Bradesco’s market experienced an upsurge in fortune by an increment to 25% from 23%. More importantly, the bank’s profits rose from 26% to 35%. The Marilia-born native is an alumnus of the University of Sao Paulo with a Bachelor’s degree in philosophy.
Challenges Lying Ahead
As Bradesco’s CEO, Luiz Carlos Trabuco’s tenure still faces an enormous challenge of staying abreast from its nearest competitor, Itau Unibanco. According to reliable information, the CEO intends on implementing a few aces up his sleeve such as purchasing smaller banks. Alternatively, plans are in motion to promote organic growth through radical improvements in the bank’s internal performance. This primarily entails opening an additional 211 branches and lowering rates to attract more clients.
Implemented Plans Making Significant Progress
Upon occupying the CEO position, Luiz Carlos Trabuco advocated for the purchase of HSBC, a Brazilian affiliate associated with U.S banking. With the Chairman’s approval, who happens to be Lazaro Brandao, Bradesco significantly upped its stakes in the supremacy battle by consuming a larger chunk of the industry’s customer base. In essence, three critical factors contributed to this positive transformation: total investment funds, increased number of account holders, and more branch networks.
While addressing TIME Magazine, Luiz Carlos Trabuco hailed the latest purchase of HSBC as a significant milestone that established Bradesco’s dominance in the financial industry. Moreover, the company managed to achieve what would have taken six or seven years to attain through organic growth. Even though the final procurement details needed fine-tuning, the company was upbeat about this latest astronomical achievement. As such, Mr. Luiz Carlos Trabuco was unanimously awarded the ‘Entrepreneur of the Year in Finance’ award by Money Magazine.
Luiz Carlos Trabuco’s rise to prominence is proof enough that hard work is crucial to success. Initially, he had served as a junior employee from 1969 and progressively scaled the ladder to become President. Since his appointment, Luiz Carlos Trabuco is credited with contributing to over 30% of the bank’s profits. Once in the CEO’s office, he immediately sought renewal of leadership cadres with the sole of promoting creativity and innovation. This mostly entailed gathering shareholders and employees to the Noble Hall and tasking each with vocalizing their plan of action for the company within their particular department.
Among all participants, Renato Ejnisman emerged as a notable contributor by highlighting the CEO’s daily routine in the company. For instance, the CEO would commence office activities by 7 am and work until 6 pm and even take some meetings in business dinners.