There is nothing more crucial than the administration of a corporation. The change in management could break or make the reputation of a company. Some companies have experienced a loss in shares if not total collapse, while others see massive expansion beyond expectation. This is the same dilemma that faced Banco Bradesco.
Change in leadership at Bradesco
Banco Bradesco SA, one of the largest financial firms in Brazil faced tremulous times with the departure of Lazaro de Mello who had served as chairman for twenty-five years. The dynasty that has existed for decades over decades experienced a shift in dynamics with the change of leadership. When the announcement was made, it was expected that someone in the firm would take up the vacant seat. The only question was who it would be.
Why Luiz Carlos Trabuco?
Luiz Carlos Trabuco was found most appropriate for this esteemed role due to his over 40-years’ experience at Bradesco. He has worked at different positions and sectors of the bank acquiring vast knowledge of the day to day operations from the lowest station to the highest. However, he would have to serve both roles of President and Chairman until a new President is appointed.
Trabuco’s Journey Within Bradesco
Luiz Carlos Trabuco started out as a bank teller in Marilia branch of Bradesco at the age of 18. He worked his way up to the position of Director of Marketing at Sao Paulo. In this position, Mr. Trabuco created a more transparent relationship with media which helped Bradesco gained popularity within the industry and the nation at large. In 1992 he went on to become President and Executive Director of the Bradesco pension division, Bradesco Vida e Previdência. A title he held till 1998. Luiz became Managing Director the following year, and a year later he became Executive Vice President. In 2003, Trabuco became President of Bradesco Seguros where he more than doubled the size of the company. With the rapport he built in that office, he was appointed the president in 2009.
Luiz Carlos was born in1951, in Marilia, the birthplace of Banco Bradesco. He has a post-graduate degree in Socio-Psychology and a degree both from the University of Sao Paulo. While at Bradesco, he has been a recipient of several awards which include: insurance Personal of the Year in 2006 and 2007, the Don Quixote Trophy in 2009 and Entrepreneur of the Year in the finance category in 2015. He also appeared in the Forbes Magazine List of Best CEOs in Brazil.