Luiz Carlos Trabuco Assumes Bradesco’s Board Presidency

Speaking of Luiz Carlos Trabuco as an executive only would be stripping him of his many titles. Summed up, he is part of what suits the description of a mythical dynasty. Carlos Trabuco is but the fourth individual to assume the presidency of Bradesco, the largest banking institution in Latin America. The lineage started with the founder, Amador Aguiar. Since 2009, Trabuco has occupied a position synonymous with power: Managing a financial firm that has over $900 billion in assets and serves more than 27 million clients and 4.5 million companies.

Bradesco Under Trabuco’s Leadership

Under the leadership of Luiz Carlos Trabuco, Bradesco realized tremendous growth. Within six years, the bank has doubled its size reaching an asset worth of R $78 billion from R $32 billion in the 2008 fiscal year. During his first full year of administration, the company’s return on equity saw a spike, jumping up from 22% to 29%. On the other hand, Bradesco Seguro’s participation with the bank grew to 35% from 26%.

Bradesco Seguro’s positive performance hedged Trabuco’s chances of earning the favor of the bank’s board that was to elect Marcio Cypriano’s successor as the president. Finding the someone who would carry on Bradesco’s traditions and culture was not easy, both for the voters and the elect. The situation was the same with the election of Cypriano as Lazaro Brandao’s successor in 1991. Cypriano was behind the bank’s expansion cycle. Between 2001 and 2004, Bradesco had acquired Banco Cidade, Finasa and Zogbi, Maranhao, and Ceara financial institutions, including all operations at Deutsche Bank.

Many names with leading capacity were mentioned during the succession: V.P Jose Luiz Acar Pedro and Milton Vargas. However, it is Luiz Carlos Trabuco who was elected, because of the vast experience he has with the bank spanning more than 40 years.

Read more: Bradesco anuncia novo presidente: Octavio de Lazari Junior vai substituir Luiz Carlos Trabuco Cappi

Carlos Trabuco Assumes Bradesco’s Board Presidency

In October 2017, Lazaro Brandao handed the eight-man board his resignation letter as the president of the Board of Directors. The emotional occasion saw Luiz Carlos Trabuco named the board’s president. Lazaro Brandao’s resignation came sooner than expected as it was scheduled for 8th March 2018. Granted, Trabuco was supposed to relegate the day-to-day operations at the bank to one of the seven sitting vice presidents.

In March 2018, Bradesco announced the election of Octavio de Lazari Jr. as the bank’s president. Nonetheless, Trabuco was expected to carry out his responsibilities as the Board’s president and as the bank’s president until the official announcement after this year’s Annual General Meeting according to folha.uol.com.br. Lazari assumes the position against the popular opinion that Mauricio Minas, one of the VPs and the person in charge of technology, was fit for the job.

Education Background and Career History

Luiz Carlos Trabuco is an alumnus of the University of Sao Paolo, where he graduated with Philosophy, Sciences and Letters certificates. He also holds a postgraduate diploma certificate in Psychology from the School of Sociology in Sao Paolo.

He joined Bradesco in 1969 as a clerk. After 15 years, he became an executive officer of the bank before becoming the CEO of various subsidiaries of the bank in 2009.

Learn more about Luiz Carlos Trabuco: https://g1.globo.com/economia/noticia/conselho-do-bradesco-escolhe-octavio-de-lazari-junior-para-substituir-trabuco-como-ceo.ghtml

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