Bradesco has risen from relative obscurity to become the largest bank in Brazil. And it has done so, in large part, under the leadership and vision of Luiz Carlos Trabuco. The 67 year old CEO has been at the helm of the bank for the last 8 years. But his reign there is finally coming to an end. Trabuco has announced that he will take up the chairmanship, replacing outgoing chairman Lazaro Brandao. This represents a continuation of his leadership and a vote of confidence by the board of directors that Trabuco is the right man for the job.
From teller to global player
Luiz Carlos Trabuco first came to work for Bradesco in 1969, when he was just 18 years old. Trabuco had just graduated from high school and was looking for his first job. He had intentions of attending college but lacked the funds to do so. He figured that he could work at the bank for a year or two, earning enough money to put himself through school. Little did he know that his time at Bradesco would lead to one of the most storied careers in the history of Brazilian banking.
Trabuco quickly proved to be an able employee and won the admiration and respect of his superiors. By the early 70s, he was a branch manager. By the mid-70s, he had been appointed regional director of the now rapidly expanding bank. Throughout the decade of the 70s, he was able to put himself through night school at the prestigious University of Sao Paulo, even as he continued to work up to 60 hours per week.
By 1980, he had earned a bachelor’s degree in business administration and a master’s degree in social psychology. Combined with his accumulated experience in many of the bank’s different departments, as well as his demonstrated managerial talent, Trabuco was quickly becoming one of the most highly qualified employees of the bank. In 1984, he was tapped to fill his first executive role.
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Trabuco was appointed to head up the marketing department of the bank. Throughout the mid to late 80s, he was able to implement a number of innovative changes to the way in which the bank approached its marketing and public relations efforts. This proved successful, as Bradesco expanded rapidly into new markets and acquired new customers throughout this period.
In 1992, Trabuco was appointed to the presidency of the bank’s struggling financial planning division. Accounting for just a few percent of the firm’s total revenues, the financial planning division was an area where Trabuco saw massive upside potential.
He quickly began making radical changes to the way in which the unit operated. One of the most important and lasting contributions that Trabuco made was the development of a tiered product line. He created a high-end banking service known as Bradesco Prime. This service was geared towards the high-net-worth client market and featured separate, luxurious facilities, 24/7 personal bankers and even lavish complimentaries, such as first-class airline tickets and hotel stays at five-star resorts.
This strategy proved to be enormously successful, recruiting millions of dollars in new retail capital to the bank. By the time Trabuco was again promoted, the financial planning division had grown to account for more than 30 percent of the firm’s total revenues. By this time Trabuco was widely regarded as one of the bank’s most important and influential leaders.
Over the next decades, he headed up the insurance underwriting division of the firm and was eventually tapped for the office of CEO. Throughout it all, Trabuco has proven himself to be an invaluable contributor to Bradesco and an integral part of its corporate history.
Learn more about Luiz Carlos Trabuco: http://www.infomoney.com.br/blogs/bolsa/o-investidor-de-sucesso/post/7002925/quem-substituira-trabuco-comando-bradesco-nomes-estao-cotados-tudo-pode