Another Promotion For Luiz Carlos Trabuco At Bradesco: He Is Now The Chairman Of The Board

Bradesco is the second largest private bank in the Brazil. In a bid to ensure its continued profitability and top market position, the bank recently made a raft of leadership changes.

Leadership Changes

After 75 years at Bradesco, Lazaro Brandao recently announced that he would be leaving the bank. His position as chairman was taken up by the current president, Luiz Carlos Trabuco. However, this promotion, in turn, created a vacancy in the position of president. It has already been expressed that Luiz Carlos Trabuco’s successor will be one of the top executives working at the bank or one of its subsidiaries.

The Top Candidates

All of those being mentioned as top candidates for the position of President at Bradesco are currently vice presidents at the bank. Among the stronger candidates are Alexandre Gluher, Josue Pancini, Domingos Abreu and Octavio Lazari. Alexandre Gluher is the chief risk officer at the bank and played a critical role in helping Bradesco complete the $5.2 billion acquisition of HSBC Brazil. Josue Pancini oversees both the high-income segment and the extensive branch network that Bradesco currently has. The equally experienced Domingos Abreu currently heads the bank’s treasury department. Finally, Octavio Lazari is currently the CEO of Bradesco’s insurance subsidiary, Bradesco Seguros. Each of these candidates has been at the bank for over two decades.

Read more on economia.estadao.com.br

Another Promotion for Luiz Carlos Trabuco

Luiz Carlos Trabuco joined Bradesco as a clerk in 1969. He was aged 18 at the time and did not have an academic qualification in finance or professional experience to back it up. However, he quickly mastered the skills needed to thrive in his position.

In only two years, he was given his first promotion as he was moved from his local branch in Marilia to the headquarters in Sao Paulo. At the headquarters, he greatly outshone his peers and was by 1984 been considered for the position of marketing director. He got the position and went on to revolutionize how the bank related to the media. Owing to the improved relationship with the press, its portrayal in press improved significantly thus helping fashion a positive brand image among members of the public.

A few promotions later, he was the named the vice president of Bradesco Seguros 1999. He was the number two at the insurance company for only four years before he was promoted to its president in 2003.

It was at Bradesco Seguros that Luiz Carlos Trabuco made a name for himself. Arriving at an already successful company, Trabuco decided to take the road that very few executives in a similar position would. He took some big risks targeted at making Bradesco Seguros even bigger. In his first year, he concentrated on growing the company’s broker network with the hope that it would facilitate increased sales of the company’s policies. This move turned out to be quite successful as Bradesco Seguros further strengthened its position as the market leader in the Brazilian insurance industry. In fact, by the time he was leaving the insurance company in 2009, it controlled about a quarter of the entire market and contributed more than a third of Bradesco’s annual returns.

Luiz Carlos Trabuco was named the president of Bradesco in 2009. Set to retire from the position in 2016, many thought that this was the highest he would scale the Bradesco leadership ladder. However, the Bradesco board decided to put off his retirement by two more years thus creating the opportunity for Trabuco to be named the bank’s chairman in October 2017. His journey at the bank has truly been extraordinary.

Search more about Luiz Carlos Trabuco: https://br.reuters.com/article/topNews/idBRKBN1CF35D-OBRTP