Luiz Carlos Trabuco is the current CEO of Bradesco, which is one of the largest banks in Brazil. One might think that he had made it to this position due to family favors, but he actually worked his way up from the bottom. When he was just 18 years of age, he started working for the company as a low-level clerk. He started studying philosophy at his local university while balancing his full-time job for the company.
The path he took at university was unlike his peers. Most finance executive will study financial careers, mathematics, or engineering rather than liberal arts. Then again, Luiz Carlos Trabuco is the type of CEO that stands out from the rest. Instead of living life in the fast lane, he prefers to spend time with his family in his free time.
The True Replacement To Amador
The unfortunate death of Amador Aguiar had left the company in shambles as they never had a system of choosing a CEO. Luiz was just age 47 in 1981, which was considered too young to be a CEO of a large bank like Bradesco. The executives of the company had strong feelings towards Luiz as becoming the leader, but they eventually decided to give it to a more senior member like Márcio Cypriano.
Read more on Bloomberg.com
Reforming The Company’s Marketing Strategy
Amador had kept Bradesco with the old fashioned mentality for quite awhile. The company had a policy of avoid reporters but the market was changing. People now had a more involved interest in what companies were doing so positive PR was needed. Luiz had made an effort to launch PR events and keep in close tabs with news agencies. This is one of the things that allowed the company to significantly grow during the 1980s. It is now a widely recognized name that every Brazilian knows about.
Bradesco Aquiring Banks
Marcio had played a big role in the company by going on a buying spree. This had increased the overall market share of the company but also increased liabilities as well. The bank had purchased HSBC Brazil, Banco Bilbao Vizcaya Argentaria, J.P. Morgan Fleming Asset Management (Brazillian office), Banco Ibi S.A. and many others. For a period of time, the bank was raised to the level of being the absolute largest in the country.
Now It Is Luiz’s Turn
Once Marcio had reached the age of 65, the company no longer allowed him to hold an executive position. This is where Luiz was allowed to take the seat of SEO that he deserved.
The financial climate of Brazil was declining at the moment but Luiz still had managed to keep things in order. Since rivals were starting to merge, the company had lost its spot as the larget bank in Brazil. Still, it has one of the most impressive amount of assets and a brand name that is widely recognized. The company now has over 5,300 branches and over 34,000 cash machines around the country.
For more information about Luiz Carlos Trabuco, just click here.