Few business executives are as influential in Brazilian economic life as the president of a financial institution such as Bradesco. Trabuco has a number of accomplishments under his belt such as large credit operations and some of the largest financial projects in progress in Brazil.
Due to Luiz Carlos Trabuco’s position, his opinions are followed and observed by the main political and business leaders in the country – for this reason, what he says usually becomes a headline in newspapers or on magazine covers. Bradesco has openly stated that it is definitely taking advantage of his powerful influence since Luiz Carlos Trabuco is the company’s CEO. He is leading the second largest private bank in Brazil, which is closely trailing the largest private bank, Itaú-Unibanco. Trabuco is in his 60’s and shows no signs of retiring in the near future.
Luiz Carlos Trabuco was the first pick of replacements for Márcio Cypriano, who lead Bradesco as president in the past. Luiz Carlos Trabuco is the fourth president at Bradesco since its beginning in 1943. It is important to note that Trabuco is the third president after Amador Aguiar, Bradesco’s founder, and first president. Trabuco deeply understands Bradesco’s corporate culture. He worked for Bradesco for 40 years prior to becoming president and worked his way up the hierarchical and corporate ladder and at the age of 47, Luiz Carlos Trabuco was nominated the vice-president of the group. Prior to being vice-president, Trabuco was involved in private retirement funds and marketing. When Luiz Carlos Trabuco was leading the Insurance branch of the company – Bradesco Seguros, it was what made him gain the company’s attention. His results were quite impressive – Bradesco’s market share went from 23% to 25% and the percentage of financial results of the group’s income went from 26% to 35% while he was heading Bradesco’s insurance branch.
Luiz Carlos Trabuco was born in Marilia, São Paulo, which is the same city Amado Aguiar, the founder of Bradesco, is from. Trabuco is married and has three children. He holds a degree in Philosophy from USP (Universidade de São Paulo). Some say that Trabuco holds a resemblance in leadership style to his precursor. Trabuco is known to be discrete and not display wealth in order to not make himself difficult to connect with. Trabuco is also known for his sense of humor as well as his big outgoing smile. He is not a typical banker. Most bankers hold a degree in Business Administration, Economy, Accounting or Engineering, while Luiz Carlos Trabuco holds a degree in Philosophy and has an additional degree in Social-psychology from the School of Sociology and Politics of São Paulo (Escola de Sociologia e Política de São Paulo).
Luiz Carlos Trabuco is considered to be responsible for making Bradesco become a modern bank. This process began to take shape when he was leading the marketing area of Bradesco in the mid-80’s. Trabuco was able to change the bank’s relationship with the media which was not good before his command of the marketing department.
The paradigm established by Amador Aguiar, Bradesco’s founder was shattered by Luiz Carlos Trabuco. Aguiar believed that the bank was to offer the same services to all clients. Trabuco was able to change this and make the bank become segmented, which is a strategy that Bradesco’s main competitors were already doing. Bradesco now offers overdraft protection and even has Bradesco Prime, which features specialized agencies that focus on high-income clients.
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