For the last seven years, it has been virtually impossible to speak of Bradesco without mentioning Luiz Carlos Trabuco in the same breath. This due to the fact that since his appointment as the Brazilian bank’s president in 2009, he has guided it through a period of consistent growth despite being faced with tough industry conditions on a few occasions. Now, his close to five-decade at the bank is set to continue for a lot longer as he takes over the position of chairman of the board from the outgoing Lazaro Brandao. Having been the vice chairman of the board for the last three years, Luiz Carlos Trabuco is expected to fit seamlessly into his new role.
With Luiz Carlos Trabuco taking up the position of chairman, Bradesco will also have to select a new president. As has long been the bank’s tradition, it is expected that Bradesco will overlook external talents and instead select a new leader from among its current crop of executives. The decision on who the next president will be is set to be made in March 2018. With a thriving corporate university and seven current vice presidents, the chances of Bradesco selecting a competent leader are quite high. However, unlike before, the new president will no longer be a member of the bank’s board. Consequently, the board might be expanded in the coming months.
While there are many ways to paint the picture of Luiz Carlos Trabuco’s success at Bradesco, an overview of his various awards and honors arguably provides the most comprehensive summary. In 2003 and again in 2007, Luiz Carlos Trabuco was named the insurance personality of the year.
He was issued the awards by Coverage magazine. On both occasions, Luiz Carlos Trabuco was serving as the president of Bradesco Seguros. The first time he received the award, it was in recognition of his efforts to expand the company’s broker network to facilitate a more aggressive sales strategy. The move paid off significantly as Bradesco Seguros managed to maintain and grow its position of market leadership throughout the length of his tenure. The second time he received the award, it was in recognition of his efforts to grow the insurance industry in Brazil and hos consistently prudent management of Bradesco Seguros. To him, the insurance industry was not just there to facilitate the making of profits but rather to aid the government in advancing social welfare.
In 2015, Luiz Carlos Trabuco was again honored by Money magazine by being named the entrepreneur of the year in the finance category. He was given the award as a result of overseeing the biggest financial transaction of the year – Bradesco’s acquisition of HSBC for $5.2 billion. Bradesco had to beat out competition from a few other banks to complete the multi-billion dollar deal. As a result of the purchase, the bank branch network grew to approximately 5,500 branches while its value increased to almost $400 billion. Further, with the integration of operations between the two bank’s taking a considerable amount of time, it also paved the way for Luiz Carlos Trabuco’s stay as president to be extended by two more years.
Known to be quite the patriotic individual, Luiz Carlos Trabuco was honored by his hometown by being named a meritorious citizen of Marilia. Born and raised in Marilia, he has made it a point to give back to his local community using his time and resources. Further, he is a great source of pride to the city, being only one of the few people from there to occupy a top position in the financial sector.
Visit g1.globo.com for more information about Luiz Carlos Trabuco.