The year was 2009 when Luiz Carlos Trabuco took over the reigns at Bradesco. The time was critical as Bradesco had just fallen behind its chief rival Itau Unibanco. For the first time Bradesco was no longer the lending bank in Brazil. Luiz Carlos Trabuco stated when he took over the presidency of Bradesco that he was not concerned with regaining the number one spot in the banking industry in Brazil. He stated that he just wanted to serve the customers that they were supposed to be taking care of.
That may have been what he said at that moment, but the reality was that in 2015, Luiz Carlos Trabuco had made a very bold move for the bank. He sought approval from the board of the bank to buy out the Brazilian branch of HSBC. For those who do not know, this is one of the largest and most important banks in the world. The purchase of the Brazilian operations of that bank netted a price of $5.2 billion.
Given that purchase, Bradesco is now suddenly back in the fight for being the largest bank in the private sector in Brazil. It was supposedly not the mission of the new President to do that, but all these years later they may be on the verge of making that happen anyway. The branch network, number of account holders, and total investment funds are all areas now where Bradesco has regained the lead. They are still trailing in terms of total assets, but not by far.
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Luiz Carlos Trabuco says that the acquisition of HSBC has super-charged the growth of his bank. It would have taken six years of organic growth by Trabuco’s estimations for Bradesco to grow by the amount that it will by just acquiring this new bank. That is a big deal in any industry, and it really makes a difference when you are a bank trying to regain its footing.
Given all of these savvy moves, perhaps it should be no surprise that Luiz Carlos Traduce has been named as the Entrepreneur Of The Year by Dinherio.
Luiz Carlos Trabuco himself was born in 1951 in the city where the bank that he now runs originated from. He grew up to attend the University of San Pablo and graduate from there with a degree. He started working at the bank in 1969 and had to move his way up the ranks in order to get to the position where he eventually ended up. There were no shortcuts for this hard worker. Rather, he went through all of the positions that his workers would have to go through in order to move up and get promotions. This helped teach him all about the conditions at the bank and what it is like to work at the lower rungs.
He took over the presidency of a portion of the bank that generated about thirty percent of the profits for the bank. That is huge and gave him plenty of spotlight within the bank. It soon became obvious that he needed to be the next person to run the entire bank.
Luiz Carlos Trabuco has always been the type of person to include others in everything that goes on with the bank. He likes to hear from those who are still working their way up because he knows that good ideas can come from anywhere. If others had not given him the same opportunity, he would not be where he is now. He has not forgotten those lessons over time and remains a strong listener and plan implementer when he hears a good idea.
Learn more about Luiz Carlos Trabuco: http://istoe.com.br/5442_NOVO+COMANDO/