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.
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.
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.
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.