As Luiz Carlos Trabuco Steps Down From CEO, What Is In Store For Bradesco?

Major changes are coming to Bradesco, Brazil’s largest bank. A number of personnel changes at the highest level have been announced by the banking giant, starting with the departure of longtime chairman Lazaro Brandao. Brandao has worked for the company for an incredible 75 years, first coming to the firm while Europe was still in the grips of World War II. Over the course of his career, he was served in almost every executive role available at the firm, including that of CEO, and has overseen a period of the most spectacular growth of, perhaps, any company in Brazilian history.

Even as Brandao approached the age of 92, many stakeholders in the firm are feeling nervous about his departure. Such is the stature of the man that many can hardly imagine the firm without his presence. But Brandao has diligently reassured them that his successor, Luiz Carlos Trabuco, the firm’s current CEO, is the best man for the job to be found. In a recent press conference, Brandao stated that he and Trabuco see eye to eye on an uncanny number of issues, and both men share a basically common vision for the bank, its role to shareholders and its responsibility to the country of Brazil.

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Trabuco and Brandao both see technology as key

It has been noted by Trabuco himself that, of the bank’s approximately 27 million employees, 13 million are effectively technologically illiterate or have no access to internet connectivity. Despite the massive gains that the Brazilian economy has experienced over the last 20 years and the huge increases of the standard of living, including the near total eradication from the country of extreme poverty, there are still an inordinate number of Brazilians who cannot use or cannot access the internet.

Trabuco and Brandao have both made great hay of this fact, citing their own past efforts to get Brazilians, their customers in particular, online. At 67 and 91 years old, respectively, Trabuco and Brandao would, perhaps, seem odd emissaries for the adoption of cutting-edge technology. Yet Brandao himself was the main driver of Bradesco’s early online banking rollouts in the mid-1990s. In fact, the firm was one of the first in Latin America to have a fully operational online banking platform.

Since then, the bank has continued to be a leader in the development of technological solutions. Trabuco himself has been a major proponent of adopting and adapting technology for the bank’s purposes. One of the main reasons for the acquisition of HSBC Brazil was the firm’s technological infrastructure and human IT capital. Both men have repeatedly stated that the bank’s future will hinge on how well and how fast it is able to innovate and bring to market tech solutions that create value for its customers.

But all of the talk about the 13 million Bradesco customers without internet access and the threat that such disconnectivity presents not only to the bank, but to the country of Brazil as a whole, has led some to speculate that major interventions by the bank may be at hand. There has been talk that a plan may be in the works to get all of those customers online through the provision of internet-capable mobile devices according to crunchbase.com. No word has been available, as of press time, of if or when this program may materialize.

In the meantime, Trabuco will need to appoint his successor. Most of the smart money is zeroing in on Mauricio Minas as being the most likely candidate to step into the C-suite. The 57 year old chief technology officer has been instrumental in the bank’s continued innovation in technology.

Learn more about Luiz Carlos Trabuco: https://www.istoedinheiro.com.br/o-bradesco-de-brandao-trabuco/

Luiz Carlos Trabuco Taking Over Bradesco

The economy of Brazil is quite vast, and it is considered to be a financial powerhouse of South America. Various monetary institutions have been established on this side of the world, and among the most notable is Bradesco, where Luiz Carlos Trabuco happens to chair the company as president. Holding such a position is significant for Carlos Trabuco as it is evidence of the experience that he holds in financial matters, thereby, making him command a lot of respect in the financial economy of Brazil.

Officials who have held the position of president at Bradesco are considered to be persons who are apt in financial matters, thanks to many years of skill sharpening due to involvement in credit offering operations. Most leaders, both in the business and political realm, look up to personalities such as Luiz for guidance, and some of the statements that have been uttered by Luiz Carlos Trabuco have ended up being published in national newspapers and magazines.

Luiz Carlos Trabuco is currently 57 years old, and his appointment to the overall leadership of Bradesco comes in the wake of Márcio Cypriano’s exit, who was also a great personality in the insurance company. Márcio Cypriano had to leave the company since he had attained the age of 65, and it became impossible for him to continue holding onto that position as he had to retire.

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The excellence that has been experienced at Bradesco in the ten year period that Cypriano held the leadership position is quite immense because he managed to make the company gain a higher market value. Initially, Bradesco was only valued at $5 billion in the stock market, but by the time that Cypriano was exiting the company was valued at $30 billion showing a tremendous improvement in performance.

Bradesco is a corporation that has been in existence for over 65 years, and all the leaders who previously led the company have left an exemplary record at the enterprise. Luiz was nominated for the presidency of the company by Lázaro Brandão, who acts as the board chairman and had previously chaired the company as president. Luiz Carlos Trabuco has headed different departments within Bradesco, which include marketing and private pension.

The rise of Luiz to success has come a long way, and it’s his hard work that attracted the attention of Bradesco Seguro who is the CEO and founder of the company. Luiz was only 47 years when his track record started shining, and it is at this time that he was elected to head the company as vice president.

Luiz Carlos Trabuco understands operation procedures at Bradesco very well, and this has been enabled by the fact that he began his career as a mere clerk at the organization before progressing through various levels of management. In the course of 40 years that Luiz has worked at Bradesco, he has continually polished his profile to fit that of a leader who understands the requirements of working as a director at Bradesco.

Upon the election of Márcio Cypriano to the presidency of the company, Luiz Carlos Trabuco was notified of the possibility that he would be next in line to head the company once Cypriano’s tenure came to an end. Having that in mind, he has continually prepared himself psychologically for the enormous task.

Luiz Carlos Trabuco faces a great challenge ahead since he has to face competition from Itaú Unibanco, which is causing ripples in the financial sector and aims to become one of the largest private banks in the country. However, Antonio Jacinto Matias who heads Itaú Unibanco as the vice president believes that the presence of Luiz Carlos Trabuco at Bradesco for a lengthy period gives him an added advantage, as he understands the challenges that are typically faced by the leader of a massive insurance company.

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