Executive Luiz Carlos Trabuco holds an influential position in Brazil as the CEO of Bradesco, the nation’s second largest private bank. Trabuco held other executive positions at the bank, including the marketing department and a vice presidency, however, it was his leadership as head of Bradesco Seguros that showed that he was CEO material. The insurer increased its share of the bank’s assets from 26 percent to 35 percent under Trabuco’s leadership.
As the CEO of Bradesco, business and economic leaders in Brazil follow Luiz Carlos Trabuco’s decisions closely; his opinions frequently appear in newspapers and magazines. Trabuco represents the bank’s stable image perfectly; he dresses professionally and measures his words before speaking. As for his personal life, Trabuco is married with three children and he lives a calm life, therefore, when he speaks, the focus is on the bank, not him.
Having large shoes to fill, Luiz Carlos Trabuco takes over the helm from his predecessor, Márcio Cypriano, who significantly increased the bank’s assets from $5 billion to $30 billion. Currently, Bradesco has $150 billion to go to surpass Itaú Unibanco, the largest bank and Bradesco’s main competitor. Trabuco plans to open new branches and facilitate organic growth to increase the bank’s standing. Additionally, Trabuco pushed for segmentation, which gives ultra-wealthy customers special privileges, which Bradesco implemented, even giving high income clients differentiated service with Bradesco Prime. To help get Bradesco back into the number one position, Trabuco acquired HSBC in 2015, paying $5.2 billion for Brazil’s largest business.
While Trabuco has said that, “Leadership itself is not a goal,” he made a bold move to fight for leadership. It would have taken years for Bradesco to organically gain the number of account holders and deposits it did with the acquisition.
After graduating from the University of São Paulo, where he studied philosophy, and his sociopsychology at the School of Sociology and Politics of São Paulo, Trabuco started as a clerk at Bradesco, which was the beginning of a 40-year career. He moved to the bank’s headquarters quickly, where his career took off.
Well thought of by his peers, Bradesco turned down an invitation from President Dilma Rousseff to run the Ministry of Finance. He continues to work long hours, even after reaching the pinnacle of his career at the bank. He also earned the Entrepreneur of the Year award from Dinheiro.
Born in 1951, Luiz Carlos Trabuco is nearing age 65, at which time he will exceed Bradesco’s age limit for CEO’s, which is 65. Trabuco was appointed CEO when his predecessor turned 65, however, the shareholders are so pleased with his performance that they may raise the age limit to 67, in order to keep Trabuco on. With the integration of HSBC, it would be challenging for a new CEO to step in and carry on with Trabuco’s plans.
Insurance is Trabuco’s forte, which he still maintains an interest in as head of Fenasaúde, Brazil’s health insurance association. Additionally, Luiz Carlos Trabuco serves as a VP of the Institute for Supplementary Health Studies.
Learn more about Luiz Carlos Trabuco: http://istoe.com.br/5442_NOVO+COMANDO/