Luiz Carlos Trabuco serves as the president and chief executive officer of Bradesco Bank, the second largest equity bank in Brazil. Trabuco was born on October 6, 1951. He grew up in Marilia, Sao Paulo, and went to the University of Sao Paulo where he received his undergraduate degree. He received his post-graduate degree from Foundation School of Sociology and Politics of Sao Paulo.
He started his business career at the age 18 as a clerk at Banco Bradesco. In this post, he was responsible for assisting the bank’s customers with their day-to-day transactions such as withdrawals, deposits, and loan payments. He served through various positions in the bank until he became the bank’s president in 2009. Other positions he has held at the bank include department director (1984), managing officer (1998), and executive vice president (1999).
When Mr. Trabuco assumed the presidency of Bradesco, the bank had been losing to its competitors. Trabuco immediately began looking for acquisition targets. In 2015, there were rumors that HSBC was looking to do away with its Brazilian assets following years of losses and dwindling market share. Trabuco saw this as a perfect opportunity to make Banco Bradesco competitive again.
With the consent of the chairman of the board of directors (Lazaro Brandao), Trabuco bought HSBC’s Brazilian assets for $5.2 billion.
Today, the Banco Bradesco has more than 5,000 branches in every state of Brazil. Even though it has been difficult to thrive in the highly competitive Brazilian banking industry, Mr. Trabuco has ensured that Banco Bradesco stays on top of things.
Awards and Recognitions
Luiz Carlos Trabuco has received numerous awards during his banking career. In 2006, Mr. Trabuco was named the Business Sector Leader in insurance and pension plan by the Gazeta Mercantil Business Leaders Forum. While working as the Chairman of the Bradesco Insurance and Pension Group, Carlos Trabuco was named the Insurance Personal of the Year for two consecutive years (2006 and 2007). He also received the Meritorious Citizen of Marilia Award and the Don Quixote Trophy in 2009. During the same year, Carlos Trabuco was included in the list of the 100 most influential Brazilians. In addition to these awards, Trabuco holds the prestigious Entrepreneur of the Year award (2015) in the category of finance.
About Bradesco Bank
Banco Bradesco S.A. is a Brazilian-based commercial bank that offers both banking and financial services and products. Its client base includes individuals, small, mid-sized and large companies and regional and international institutions and corporations.
Bradesco Operates Through Two Segments:
• Banking segment – It comprises of holding companies and financial institutions. The institutions are responsible for managing assets and financial resources as well as issuing credit and debit cards.
• Insurance, Pension & Capitalization Bonds – This segment comprises of capitalization bond, insurance, and pension plan companies. The companies offer insurance services such as life insurance, health insurance, pension plans and personal accident insurance among others.
The bank was founded by Amador Aguiar in 1943 in the municipality of Marilia, Sao Paulo. However, the bank moved its headquarters to Osasco in 1957. Bradesco is now one of the largest banking and financial services institutions in Brazil. It is even the second largest private bank in Brazil.