Luiz Carlos Trabuco Is Using Innovative Strategy To Help Bradesco Take Back The Number One Spot In The Industry

Luiz Carlos Trabuco is a busy man. He is the current president of Banco Bradesco. The mammoth bank he runs employs more than 100,000 employees and is valued at close to $400 billion.

Additionally, Banco Bradesco has two subsidiaries. The first, Bradespar is a holding investment company while the second, Bradesco Seguros is an insurance company. Despite the sheer number of responsibilities that come with his position, Luiz Carlos Trabuco acted strategically and innovatively, thus allowing him to post positive results consistently. There is little doubt that he has exceeded the expectations of many in the Brazilian financial industry.

Despite having been with the bank for close to five decades, arguably Luiz Carlos Trabuco’s greatest contributions have come in the last 15 years. In that time, he has held the consecutive posts as the head of Bradesco Seguros and as the President of the entire Banco Bradesco Group. He was the head at Bradesco Seguros for six years before taking on his current role as the group’s president. He managed to build up on what his predecessor had done at Bradesco Seguros and made it the largest insurer in Latin America. By the time he was leaving in 2009, the insurer controlled about 25 percent of the insurance industry in Brazil. Additionally, he also managed a year-on-year growth rate of about 33 percent between 2003 and 2009 thus doubling the insurer’s total value from R$32 billion to $78 billion over the course of his six-year stay. All in all, he left a permanent mark on both Bradesco Seguros and the Brazilian banking industry. Consequently, it did not come as a surprise to many when he was named the insurance personality of the year for both 2003 and 2017.

At the time Luiz Carlos Trabuco took over as the president of Banco Bradesco, the bank was not operating in the most conducive of environments. The Brazilian financial sector, like many across the world, had been heavily affected by the 2008 global financial crisis. As such, business was slow, and opportunities for growth were quite scarce. At the same time, Banco Bradesco was also overtaken as the largest private bank in the country by Itau Unibanco. While Banco Bradesco had for decades been the leader in this industry sector, the merger of Banco Itau and Unibanco created the largest financial conglomerate in the world and consequently pushed Banco Bradesco into the second spot.

While his work was cut out for him then, Luiz Carlos Trabuco has since shown that he was more than equal to the task. Building on the strong foundation work put in by his predecessor, Marcio Cypriano, Luiz Carlos Trabuco looked to organically grow the bank, instead of acquisitions, before the financial situation in the country settled. Once things improved in Brazil, he then shifted gear to more aggressive expansion strategies. The one that raised the most eyebrows was the acquisition of HSBC Brazil by Banco Bradesco in 2015 for a reported figure of $5.2 billion. The move killed two birds with one stone as it furthered the bank’s objective of growing while also taking it one step closer towards reclaiming the number one spot in the industry from Itau Unibanco.

Luiz Carlos Trabuco’s leadership pedigree has seen him tasked with a number of responsibilities outside Banco Bradesco. He is the current chairman of the executive board of the National Confederation of Financial Institutions (CNF) and also serves on the Brazilian Federation of Banks’ board of directors. He has also previously sat on the boards of the National Academy of Insurance and Pension Plans (ANSP) and the Brazilian Association of Publicly held companies (ABRASCA).

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