Banco Bradesco is one of the leading players in the Brazilian financial industry. Founded in 1943, Banco Bradesco has since grown to become the second-largest private lender in the country, largely due to the high caliber of leadership it has had over the years. The bank’s leadership culture is best embodied by its current president, Luiz Carlos Trabuco.
Now the bank’s president, it would be difficult for anyone to believe that Luiz Carlos Trabuco was once a clerk at Bradesco. In fact, when he first joined the bank in 1969, he was only aged 18. At the time he had virtually no experience in banking or an educational background in a finance-related field. However, by the time he was 33, he had already risen to become the department head of the marketing department. His time in the position coincided with a great modernization drive at the bank. He ensured that the changes got public recognition by mending the bank’s relationship with the media. Quite the innovative marketer, he was retained in the position for eight years before again being promoted.
Close to decades later, Luiz Carlos Trabuco had again risen to become the president of Banco Bradesco’s largest subsidiary, Bradesco Seguros. Within his first year of appointment to the position, he was named the insurance personality of the year. Despite being new to the industry, the accolade was well deserved owing to his aggressive efforts to expand the company’s broker network early on. Four years later, he was again the recipient of the same accolade. This time, it was in recognition of his efforts to expand the insurance industry in Brazil and advance its legitimacy as a tool to improve public welfare. By the time he left the company in 2009, its market share had grown by two percentage points to a dominant 25 percent. Its value had also doubled, and its contribution to the Bradesco Group’s total revenue stood at a respectable 35 percent.
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Fourth Banco Bradesco President
Following the six highly successful years at Bradesco Seguros, Luiz Carlos Trabuco was appointed to succeed Marcio Cypriano and become the fourth president at the bank in 2009. Unfortunately, the year of his appointment coincided with a tumulus period for the Brazilian economy. Like many other developed economies, Brazil was also caught up by the effects of the global economic crisis of 2008/2009. That, however, did not stop Luiz Carlos Trabuco from launching an ambitious organic expansion drive that aimed at adding over 200 offices to the bank’s extensive branch network in 2009 alone. Banco Bradesco continued expanding through this organic approach and managed to remain profitable even during the crippling Brazilian economic depression of 2015.
The $5.2 Billion Acquisition
Owing to the economic troubles that plagued Brazil in the first few years of his tenure as Bradesco president, there were no viable acquisition opportunities for the bank. That, however, changed in 2015 when British multinational, HSBC intimated that it would be selling its Brazilian operation according to folha.uol.com.br. With the assistance of bank chairman Lazaro Brandao, Luiz Carlos Trabuco quickly and shrewdly negotiated a deal to acquire the mid-tier bank. The deal was pegged at a considerable $5.2 billion, making it the largest financial deal in the Brazilian private sector for the year. Luiz Carlos Trabuco equated the expansion gains made through the deal to six years of organic growth. It also drew Banco Bradesco a lot closer towards overtaking its largest competitor among private lenders, Itau Unibanco. For his role in engineering the multibillion-dollar deal, Luiz Carlos Trabuco was named the entrepreneur of the year in 2015 by the respected publication, Money magazine.
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