Banco Bradesco SA, the second largest private bank in Brazil, has over 100 thousand employees giving the Osasco based Bradesco an adequate talent pool. It came as no surprise when the bank through its CEO, Luiz Carlos Trabuco, stated that it would pick a new president from the company’s staff. Trabuco, who is the fourth president of the bank, will retire in March. The 66-year-old Trabuco has been the CEO of Bradesco for eight years and has been at Bradesco for over 48 years. At 66, Trabuco is still capable of discharging official duties, and the bank appointed him to be the chairman of the board of directors. Trabuco, just like the previous chairmen, Amado Aguiar and Lazaro de Mello Brandao, will be representing the Bradesco Foundation, the controlling shareholder of Bradesco, in the board of directors.
Prior to the appointment of Trabuco as the chair of the board, Brandao was the chairman, but he stepped down on October 11, 2017 according to valor.com.br. Brandao, 91, resigned in good faith to allow Bradesco to reorganize itself and appoint younger leaders fostering the spirit of continuity and renewal. Trabuco was announced the new chairman in the same media event that marked Brandao’s resignation. Although the bank’s culture allows for chairmen to retain the powers as CEOs, Trabuco’s case is unique as he was scheduled to retire in March. Therefore, Bradesco announced that Trabuco would double up as chairman and CEO until a new president is identified.
With the announcement by Bradesco that a new CEO is already part of the bank but working as a high-ranking executive, attention shifted to Bradesco’s heads of departments, subsidiaries, and holders of crucial roles. Seven names came up: Mauricio Machado de Minas, Alexandre da Silva Gluher, Domingos Figueiredo Abreu, Josué Augusto Pancini, Marcelo de Araujo Noronha, Octavio de Lazari, and André Rodrigues Cano. An analysis of Bradesco’s staff reveals that the seven stand a high chance to replace Trabuco. However, the bank may settle on any other employee who is not part of the seven. Whoever Bradesco appoints will be made known to the public as early as March.
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Luiz Carlos Trabuco
He was named the president of the bank in 2009, and before that he was the president of Bradesco Seguros, an insurance subsidiary of Bradesco. Although Trabuco has held various leadership roles since he first joined the bank in 1969, his performance as the head of Bradesco Seguros (2003-2008) earned him the 2009 appointment as CEO of Bradesco. At Bradesco Seguros, Trabuco doubled the size of the insurance unit cementing its market leadership. He also revamped the unit’s overall performance leading to increased revenue contribution to its parent company. Numerous awards marked Trabuco’s tenure at Bradesco Seguros. In 2006, he was named the “Business Sector Leader,” “Business Personality of Insurance,” and “Personality of Insurance of the Year.” In 2007, Trabuco was named the ‘’Insurance Personal of the Year” and “Entrepreneur of The Year.”
At the time he started his career at Bradesco, Trabuco was 17 and had not obtained a college education. Therefore, the bank offered him an entry-level position, clerk. During the course of his career, Trabuco attended Sao Paulo State University where he pursued philosophy. He then proceeded to study Socio-Psychology at Fundação School of Sociology and Politics. From there, there was no stopping Trabuco from rising through the various ranks at the bank.
As CEO of Bradesco, Trabuco did not disappoint those who had entrusted him with the commanding position. Apart from establishing the award-winning Unibrad Corporate University, Trabuco was concerned about Bradesco’s expansion, and he settled on purchasing the Brazilian branch of HSBC for $5.2 billion. The acquisition, according to Trabuco, made Bradesco achieve at once what it would have worked for with six years of organic growth.
For more details about Luiz Carlos Trabuco, just click https://g1.globo.com/economia/negocios/noticia/sucessao-no-conselho-do-bradesco-foi-um-ato-planejado-diz-trabuco.ghtml