Luiz Carlos Trabuco Remarkable Contribution To Bradesco Leadership

The Bradesco bank board of directors appoint Luiz Carlos Trabuco as the president of the institution. The nominated leader has served in several positions in different organizations. He is the vice president of Institute for Supplementary Health Studies (IESS) and a council member at Fenasaúde and Fenaseg.

Mr. Trabuco worked in Bradesco in several positions, where he developed his career for 40 years. He serves as the institution current vice president, the leading bank in Brazil with its head offices in Cidade de Deus. Since 2013 Luiz worked at the group insurer as the chair.
The renowned manager developed expertise in private regions and in marketing.

Bradesco is one of the leading financial institutions in Brazil. The bank has management tradition of appointing leaders from its painting. The method has contributed to steady performance and retaining of its position in the market. Trabuco significant contribution and career development made him the best-preferred candidate for the president. He joined the bank as a clerk and as years passed by he climbed different ranks of leadership.

Read more: Bradesco to Choose Board Member as New President, says Trabuco

Luiz worked under the direction of several presidents before his appointment. However, he will not fully take charge as a president, and his fate will be determined after the first council meeting. Currently, he is assuming the roles of both president and vice president. Immediately on confirmation, he is expected to relinquish the post of vice to his successor Carlos Alberto.

Contribution to the Economy

The nominated president has made valuable contributions to Bradesco through his professional career in the institution. He comes during economic instabilities and a moment when the bank market leadership in the financial sector is in crisis. Besides the Brazil unstable economy, Trabuco believes it is renewable. The advice he offers is for the state to focus on foreign investments. Luiz emphasizes on the improvement of the short-term factors that affect the economy.

Growth of Bradesco

Luiz Carlos Trabuco joined effort with his marketing team in 1980 towards the branding of the Bank. The firm had for years opposed media publicity until the change by the marketing team and their leader. Trabuco served as the insurer group in 2003, and he managed to grow the entity making it the largest in Latin America with a 25% market share. The contribution could have marked his journey to the presidency. Segmentation of the Bradesco divisions was Luis strategy, which improved the service delivery across all agencies at the bank

Trabuco transformed the firm by growing its net income to 35% above the past years’ revenues. He also heads the unit that earns Bradesco a 40% revenue. His achievement in developing the insurer group has branded Luiz as a charismatic leader, heightening his chances for the presidency position.

Bradesco Leadership

Since formation, Bradesco has had only three presidents. Amador Aguiar was the first president and the founder of the bank. After his resignation, the chair of the director’s board Lázaro Brandão took over. Luiz Trabuco will be taking after the leadership from Cypriano who is expected to leave office in March 2009. The nominated leader is expected to grow the insurance market in Bradesco.

Career

Luiz former student in philosophy graduated from the University of São Paulo. He enrolled in School of Sociology and Politics of São Paulo to further his studies. His career started as a clerk in Bradesco in 1969, later promoted to a marketing director in 1984. He has served in the private pension company owned by the bank for six years. He served in the insurance unit as a vice president in 1999, then later was promoted in 2003 to president.

See more : https://www.brasil247.com/pt/247/economia/321974/Trabuco-Bradesco-vai-privilegiar-“prata-da-casa”-em-escolha-de-presidente.htm

Who Is Luiz Carlos Trabuco?

Luiz Carlos Trabuco is the current president and CEO of Brazil’s largest insurance company. He was born in Marilia, Sao Paulo on October 6, 1951. Trabuco holds a postgraduate degree in Socio-Politics from Sao Paulo’s School of Philosophy, Sciences, and Literature. He began his career at Bradesco at the young age of 22 in 1969. Throughout his 40-year career, he held various positions within the organization. In January 1984, he was appointed a Department Director and in 1999 became Bradesco’s Executive Vice President. Since 2003, he holds Bradesco’s presidency after succeeding his predecessor Cypriano.

With his extensive experience and impressive knowledge, he has managed to transform the company’s fortunes. Upon assuming the chair, Bradesco was on a wrong path financially. Back then, bitter rivalry existed between Bradesco and Itau Unibanco. Due to this competition for market dominance, Luiz Carlos Trabuco engineered Bradesco’s acquisition of HSBC’s Brazil operations at a cost $5.2 billion. This placed Bradesco as the dominant and largest player in Brazil’s financial market sector. In addition to that, Trabuco helped the company improve its customer base and expand its geographical outreach. For example, Bradesco’s market share increased to 35% up from 25 % since he assumed the presidency. This is a marginal growth of 10 percentage points.

Trabuco’s forty years in the company equips him with a unique understanding and viewpoint of the company’s culture, aspirations, and goals. This is demonstrated in his devotion to the activities of the enterprise. This enables him to maintain a positive outlook regarding the company’s operations and the future of the market. Trabuco predicts that the Brazilian insurance market is to grow rapidly to over 100 million clients by 2025. As a result, to cater for this exploding market, he has intensified the company’s rate of opening new branches all over the country.

To him, the insurance sector is an essential component of the economy and welfare of the country. As such, he pays keen attention to the country’s social demographics. This has, in turn, allowed him to devise a strategy that repositions Bradesco actively in the market. For instance, he has managed to increase the company’s client base from 20 million to 27 million and active saving account holders from 37.7 million to approximately 50 million. Apart from that, Trabuco’s presidency is distinctive in that his tenure has pushed Bradesco into the leadership spot again.

Trabuco is among a few prominent industry executives with the ability to influence the economic life of ordinary Brazilians. As Bradesco’s president, economists, politicians, and the media seek after his opinion and advice. Trabuco’s rigorous application of banking knowledge to insurance has propelled Bradesco into its current success. Unlike most of his predecessors and competitors, he firmly believes in market segmentation. According to this approach, insurers should sell policies by using brokers.

His appointment to Bradesco’s presidency was opportunistic as he helped turn around the company’s performance. Trabuco is the fourth president of Bradesco in its 70 plus year history. His many years of work in the business make him an embodiment of the company’s spirit, culture, and history. Similar to his predecessors, Trabuco’s work routine begins at 7 am and ends at 18 pm. In addition to that, he has a personal habit of greeting clients at the main branch personally while taking care to inform them of the insurer’s services carefully. He often extends his working hours through various dinner and speaking engagements.

Various bodies have recognized his efforts in the country; he has been awarded the Personality of the Year award twice. During Dilma Rousseff’s presidency, he had been tapped to run the Ministry of Finance. Though he politely declined the President’s request, he remained cordial and regularly engaged with the administration.

Watch YouTube videos of Luiz Carlos Trabuco.