When Luiz Carlos Trabuco began working at Bradesco in 1969 as a clerk at the age of 20, he quickly learned the bank’s culture of continuity. His skills allowed him to rise through the ranks, becoming president in 2009.
He led Bradesco Seguros from 2003 to 2009 before becoming president, proving his executive leadership ability, which was needed as he took over Bradesco as chief executive officer of the Board of Directors, just after the private bank and financial services firm lost its prestigious top position as the largest private bank in Brazil to rival Itaú Unibanco. Being in first place was not Trabuco’s goal as he took the bank’s reigns; he was more interested in focusing on serving clients in all of the Brazilian municipalities the bank currently serves.
Losing its market leadership status was a blow to Bradesco’s honor; however, Trabuco was content to bide his time and not worry about being first, since there was an unfavorable economic environment in Brazil at the time. Trabuco waited until 2015 to buy, with the board’s approval, the Brazilian branch of HSBC. Now Trabuco has Bradesco poised to regain its position to lead the nation’s banks in deposits and total investment funds. He told Money that purchasing HSBC for $5.2 billion was the equivalent of six years worth of organic growth. The move was lauded by his peers, earning Trabuco DINHEIRO’s Entrepreneur of the Year award. Obviously, Luiz Carlos Trabuco was looking to the long-term success of the bank, not wanting to waste resources acquiring assets that would not help Bradesco’s position.
A graduate of the University of São Paulo and an experienced executive the financial world, Luiz Carlos Trabuco had innovative ideas that he put into effect after becoming CEO. Seeking a dialog with the bank’s executives, Trabuco invited them in the Noble Hall to state their position and their currently strategy for their department. Bradesco’s executives were also granted them autonomy to do their jobs as they see fit. Another of Luiz Carlos Trabuco’s fresh ideas was to open a corporate university to customize leadership training. As a department director, managing officer and an executive vice president, Trabuco also showed inventiveness, implementing Bradesco Prime, which serves the bank’s wealthiest clients with exceptional service and opening up to the media when he was in charge of publicity, implementing a policy of transparency.
An energetic and enterprising person, Luiz Carlos Trabuco spends 11 hours a day, on average, at the bank. Afterwards, he frequently attends business dinners, which extend his working day even further. Married, and the father of three children, Trabuco lives a simple life without any extravagant habits. Perhaps his studying philosophy during his university years contributes to his calm nature.
His longtime employer appreciates Trabuco; the bank values his experience. He is CEO of the Bradesco Organization’s other companies as well. Once invited by President Dilma Rousseff to head of the Ministry of Finance, Trabuco declined the offer. As one of his peers said, “Trabuco was born to work for Bradesco.”