Luiz Carlos Trabuco is most renowned for his diligence when serving as the President of Bradesco Bank, which is among the largest banks in Brazil. He assumed presidency of the insurance company in 2003, succeeding Márcio Cypriano who had turned 65 and by statute would no longer undertake executive roles. This made Trabuco the 4th president of Bradesco after Amador Aguiar, Lazaro Brandao and Márcio Cypriano.
Prior to becoming the president of the bank, Luis Carlos Trabuco had served in various capacities over several decades. His history with Bradesco dates back to 1969, when he assumed clerical duties at Marília’s agency, which was the bank’s first branch office. His humble beginnings at the company didn’t deter him from climbing the ranks.
In 1971, he went to work in the bank’s headquarters in Sao Paulo and a little over a decade later, he assumed the role of director of marketing. From 1992 to 1998, Trabuco served as the President and Executive Director of Bradesco’s private pension company. A year later, he assumed the executive vice presidency. It was in 2003, when Luiz Carlos Trabuco clinched the top seat by becoming the president of Bradesco.
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Even though Luiz Carlos Trabuco oozes a commanding aura, the father of three has a character that is atypical to the usual profile of bankers. Being a soft-spoken person with a broad smile and fine humor, he projects a simple and calm demeanor. Disparate from the majority of the bank executives with accounting, economics, engineering and administration backgrounds, Trabuco’s educational background is rooted in psychology. He graduated in philosophy at the University of São Paulo. He later joined the School of Sociology and Politics of São Paulo for his postgraduate studies in sociopsychology.
Success of Bradesco under Trabuco’s Leadership
In the beginning of 2003, Bradesco had lost its position as the largest private bank in Brazil to Itaú Unibanco. The then new financial institution had not only surpassed Bradesco by size, but it had also outshined it in terms of assets. Two months later, Trabuco was nominated for the presidency of the bank.
Before Trabuco assumed the role of director of marketing, Bradesco maintained a low profile in the media. After he rose to the helm of the marketing board in the mid 80s, Trabuco modernized the insurance company’s publicity and predisposed it to the media. In the following years, Trabuco’s opinions would appear prominently on the newspapers and pages of magazines, and were closely followed not only by the main business leaders, but also by the political leaders. His efforts in popularizing the bank worked in Trabuco’s favor, most especially when the time came to decide who the next president of the bank would be.
As a stanch promoter of the broker channel as a means of sale of insurance, Trabuco channeled the whole experience he gained in the banking sector into the insurance sector. This had a positive impact on the insurer. Under his leadership, Bradesco doubled in size and consolidated its headship in the country.
It wasn’t long after he assumed presidency that the insurance company raised its share in the group’s net income from 25% to 35%. Trabuco goes down in history as one of the biggest advocates of fragmentation, executed successfully by the insurer’s major competitors. Trabuco’s input lead to Bradesco’s rise to becoming one of the largest insurers in Latin America.
Awards and Recognitions
Not long after he took command of Bradesco in 2003, Luiz Carlos Trabuco was awarded with the Insurance Personality of the Year award, which was attributed to his professionalism that proved to bring together acumen, claw and perseverance and transforming them into results.
In 2007, Luis Carlos Trabuco won the same award for the second time, which was attributed to his four years of successful management of the insurance company. This recognition further spread Trabuco’s positivism in the sector.
Learn more about Luiz Carlos Trabuco: http://www1.folha.uol.com.br/mercado/2014/03/1425150-luiz-carlos-trabuco-e-eleito-vice-presidente-do-conselho-do-bradesco.shtml