According to Ultimo Segundo, Luiz Carlos Trabuco Of Bradesco is one of the most powerful men in Brazil. His legacy at the company is legendary and he is one of the few people to take hold of this mega-bank. Bradesco is without question one of the most major banks in South America. They have 27 million account holders and over $900 billion in total assets.
Amador Aguiar was the founder of the bank in the 1940s and has been the CEO for the majority of its lifespan. Much like Amador, Luiz was from the same town and had served for his bank since a young age. He had dedicated many years of his life for the company before even being offered an executive position.
Luiz had studies philosophy while working for the company, which was rather unusual for somebody working in banking. He earned multiple degrees from the Fundação School of Sociology and Politics of São Paulo.
In 1984, Amador had given Luiz the position as marketing director. Luiz decided to take risks launch more PR campaigns than the bank had ever had before. The company normally had a stance of avoiding the media, but Luiz had done the exact opposite. Thanks to the direction in marketing taken by Luiz, he had greatly increased the size of the company.
It wasn’t until 2003 when the company decided that he was ready to become its CEO. His leadership had been one of the best in the company has the more than doubled its income from pensions. He had also increased the bank’s return on equity by several percentage points.
Read more on Bloomberg.com
Marcio Cypriano had been the previous CEO before letting Luiz take over. After the death of Amador in the 1990s, Luiz was considered to be his replacement, but the executive team decided that Marcio had more experience. Marcio had greatly expanded the size of the company by obtaining new assets and acquiring other smaller banks. This would lead to a great deal of market share increase in the following years.
Since the company had an age limit of 65 to be CEO, Marcio had to step down and give the position to Luiz. Although others had been considered, like José Luiz Acar Pedro or Milton Vargas, he had won the popular vote amongst executives.
It was a great undertaking to manage the new assets and market conditions that he had inherited from the previous CEO. He now had to manage the operations that they had acquired from Banco Cidade, Maranhão, HSBC and more. The market conditions were also becoming stale so he had to reform a new plan to increase profits.
In the past, Bradesco had reigned supreme as the largest bank in Brazil. What had happened was that rival banks began to merge and really changed the rankings. For example, Setúbal bank is made up of other smaller banks and now has over $100 billion more in assets than Bradesco because of the merger.
Ultimately, Bradesco is the bank that has the most amount of organic growth instead of being made up of mergers. With over 5,000 branches around the country, most Brazilians are aware of the brand name. They also have over 40,000 cash machines in most stores so that customers have a high amount of convenience when using the bank. They make a large amount of profit with commercial and personal loans.
Their offering of private pensions is also one of their most popular services. Pensions with Bradesco are usually served as an extension to government pensions rather than standalone plans. This has been promoted by the government and even favored by Dilma.
For more information about Luis Carlos Trabuco, just click here.