Luiz Carlos Trabuco stepped down from his position as the president of Bradesco Bank last March 2018. The 66-year-old executive has already reached the age of retirement, and he would have to go down from his post as per company rules.
The former president of Bradesco Bank will be replaced by a younger successor, named Octavio de Lazari Junior, and he stated that he would continue the legacy left behind by Luiz Carlos Trabuco. The former president of Bradesco Bank ushered a new age of development within Bradesco Bank, and he is the reason why the value of the company rose.
Luiz Carlos Trabuco was chosen by the board of directors to become the president of the company in 2009. He is one of the most beloved leaders of the company, because of the changes that he introduced. One of the reforms under his leadership was the introduction of a set of corporate rules and regulations that would protect the employees working for Bradesco Bank. He understands the sentiments of the employees as he is already serving the company for decades. The introduction of the pro-employee reforms allowed him to openly communicate with everyone inside the company, identifying what their needs are and providing them with all of the resources that they need to perform better.
The most significant contribution of Luiz Carlos Trabuco at Bradesco Bank is the acquisition of HSBC Brazil and other financial institutions in the country. HSBC Brazil was purchased by Bradesco Bank in 2015, for a considerable price tag of $5.2 billion. The transaction did not happen in an instant, as Luiz Carlos Trabuco had to speak with the executives working for HSBC Brazil, presenting his contract and persuading them to accept the terms and conditions. This went on for months, and when HSBC Brazil finally gave their signal, the president of Bradesco Bank felt like it was a huge accomplishment for him. After the transaction was made, Bradesco Bank’s value skyrocketed at the stock market, and many people who are investing at the stock market decided to put their money at Bradesco Bank and see how it would perform over time.
According to meioemensagem.com.br, Bradesco Bank continued to acquire smaller financial institutions across the country. Remote areas with small banks were one of the primary targets of the acquisition plan by Bradesco Bank, and through the years, the project succeeded. It resulted to the significant increase in the number of assets owned by the company, and their investors returned. The development of Bradesco Bank sent a clear message to their competitors that they will do everything that they can to respond to recognition as the largest and leading bank in the country back to them.
Bradesco Bank has been operating for more than 90 years, and in 2009, the merger of two of their closest rivals has threatened them to go bankrupt because of the changes that have shaken the banking industry. Today, everything has stabilized, and Bradesco Bank is working its way to the top.