Luiz Carlos Trabuco: Bradesco’s New Chairman, and CEO Succession Race

Born on October 6, 1951, in Brazil, Luiz Carlos Trabuco is the current Bradesco Chairman having been appointed last month after Lazaro Brandao, the former chairman resigned. Brandao served as the bank’s chairman for over 25 years, and his resignation makes Luiz one of the only two chairmen the bank has had in history. When it comes to promotion, Bradesco looks inside its talents pool instead of recruiting outside the bank workforces.

Luiz Carlos Trabuco is a recognized and successful banking expert both in Brazil and across the globe. He has worked in Bradesco all his life and accumulated worthwhile banking and investment experience. Data compiled by Bloomberg ranks him as one of the world’s oldest banking leaders. Forbes Magazine also rated him as one of the most successful CEOs in the Brazilian market in 2016. His success in the financial services sector is a display of hard work, focus, persistence, and diligence.

Education and Career Path

Having been raised up in Brazil, Luiz Carlos Trabuco holds a Philosophy degree and a Socio-Psychology post-graduate degree from São Paulo University, Brazil.

His banking career started in 1969 after he joined Bradesco’s Marilia Branch as a clerk. In 1971, he shifted to the bank’s headquarter offices in São Paulo where he quickly rose up the ranks. He became a marketing director in 1984. He was designated an Executive Director between 1992 and 1998 and also served as the bank’s private pension president. One year later, he was elected an Executive Vice President and became the bank’ insurance president in 2003. Between 1999 and 2005, Luiz served as a member of Bradesco’s board of directors. He was also nominated the bank’s Seguros group chairman and served in the position between 2003 and 2009.

In his leadership and management, Bradesco has doubled in size and increased in assets. His banking service has earned him many awards and recognitions including being named insurance person of the year in 2006 and 2007, Entrepreneur of the Year in 2015 and one of the most influential people in Brazil. He also was awarded the Don Quixote Trophy in 2009, the same year he became the bank’s president and CEO.

Presently, he’s acting both Chairman and CEO of Bradesco until another executive is elected to take over as CEO.

Bradesco on Selecting a New CEO

Currently, Bradesco is Brazil’s second-largest bank by assets, and Luiz and his team has a mission to make it the largest bank serving both Brazilians and international clients. The bank has numerous local branches as well as foreign branches. One of the tasks facing Bradesco is to nominate a new CEO to replace Luiz who will be selected from among the bank’s leading executives. Possible candidates include Mauricio Machado de Minas, Alexandre da Silva Gluher, Domingos Figueiredo Abreu, Marcelo de Araujo Noronha, Octavio de Lazar, Josué Augusto Pancini, and André Rodrigues Cano. Bradesco will announce one of them as the new CEO before its next shareholder’s meeting scheduled for March next year.

Read more: