Luiz Carlos Trabuco holds numerous accolades. The Brazilian banker is currently the chief executive officer of Banco Bradesco – the second largest private bank in the country. His greatest achievement over the course of his extensive career came only a few weeks ago when he was named the new chairman of the board at Bradesco.
The promotion was especially rewarding to Trabuco as he started out at the bank as a clerk – one of the lowest positions at the bank. In slightly under fifty years, Luiz Carlos Trabuco has therefore been able to scale the entire leadership ladder at Banco Bradesco.
The man Trabuco Bradesco is taking over from as chairman is Lazaro Brandao. Lazaro Brandao had an, even more, stint at Bradesco, having joined the bank just after it had been formed in 1943. He was one of the closest allies to the bank’s founder, Amador Aguiar. This coupled with his unrivalled skill in banking led to him being named the second president at the large bank after Mr. Aguiar vacated the post. In 1990 he was again promoted to become the bank’s chairman. For the next nine years, he served as both the president and chairman of the bank. In 1999 he vacated the position of president which was then taken over by Marcio Cypriano. His legacy at the bank is one of the most polished in Brazil’s financial sector, having overseen the most profitable time periods for the bank.
Led by Luiz Carlos Trabuco, the current leadership team at Bradesco is keen to ensure that the bank’s margins do not drop during this transition period. The situation is slightly complicated by the fact that the next president cannot be selected until March 2013. Naturally, therefore, there will be a lot of speculation among industry observers and members of the press as to which leadership direction the bank will take. However, Luiz Carlos Trabuco will continue being the bank’s president to ensure that it sticks to a steadier course. His continued presence in the position that he has held for the last few months, albeit for only a few months, will no doubt settle the nerves of any stakeholders and ensure Bradesco continues functioning normally, even as the process of selecting a new president continues.
Even while the process of selecting a new president at Bradesco will take a while, it is not in any way complicated. The decision is typically voted on by the bank’s board, then followed by an announcement to the shareholders. There is little doubt that the board will settle on an individual who currently works at Bradesco as it has done during the previous three occasions it has been called upon to name a new president. While there are no favorites, the current crop of vice presidents at the bank are thought to have the greatest chance of being named the president.
Luiz Carlos Trabuco’s close relationship with Lazaro Brandao over the years will no doubt come in handy as he begins his tenure as the chairman. Brandao was one of those who strongly believed in Trabuco from the very start. He was the head of the board when Trabuco was selected to be president in 2009 and also when he was appointed board vice chairman in 2014.
The two worked closely on some of the most complex moves undertaken by Bradesco in its long history, including the 2015 acquisition of fellow competitor HSBC. Brandao was Luiz Carlos Trabuco’s mentor, and there is now little doubt that the lessons he gave Trabuco will help him become an effective chairman.
Learn more information about Luiz Carlos Trabuco: https://www.istoedinheiro.com.br/o-bradesco-de-brandao-trabuco/