Bradesco Needs A New President
In a response to Itaú Unibanco leading the market, Bradesco had chosen Luiz Carlos Trabuco to take over as President. The position was first taken in 1981 by Cypriano and Trabuco had been considered at the time. It was not an easy or brief decision to make, but the loyalty that Luiz had to the company made him stand out from the rest. With 38 years of tenure with the company, years of sales experience and some executive experience, they could not resist this selection.
Trabuco had already held an executive position for the largest insurance group in the country in 2003, so taking on this position should have been a breeze for him. He had been considered for the succession of Amador Aguiar in 1981, but the other board members had thought he was too inexperienced at just 47 years old. In the corporate world, leadership positions are reserved for the most senior members of the company.
Once Cypriano turned 65, the new rules of the company stated that he needs to turn over his position to another member. This is where Trabuco, the one who was considered prior, would take his position without any doubt. Luiz Carlos Trabuco had a huge undertaking now that Cypriano’s administration had purchased ten other banks and increased liabilities.
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Earlier in Luiz’s Career
Luiz Carlos Trabuco had a very modest start with the company. At the age of 18, he was merely a bank clerk at a Bradesco branch whilst he attended college. At FFLCH of USP, he had studied philosophy. He had then studied sociology at the Fundação School of Sociology and Politics of São Paulo while still working with the company.
By 1984, he was starting to work his way up in the company and became a Director. After years of great performance, he had taken the Vice President position in 1999. He had eventually taken the position as CEO in 2009.
More About Bradesco
Bradesco is headquartered in Cidade de Deus, Osasco (which is near São Paulo). Before Banco Itaú and Unibanco had merged to create a financial giant, Bradesco had been on top. It is one of the most recognize bank since it has over 5,300 branches all over the country with over 38,000 cash machines. They work with convenience stores, supermarkets and pharmacies to install machines in even more locations.
They are the first bank to implement biometric data as an additional security measure to prevent rampant theft. The palm of a customer’s hand can be used in lieu of their password as a way to prevent identity theft.
There are so many international locations of Bradesco, which is expected since it is such a large bank. You may find an affiliated branch in Hong Kong, New York, Luxembourg, Singapore and other financial capitals around the world. They are also traded on multiple international stock exchanges.
With the leadership of Luis Carlos Trabuco, the company has acquired many other relevant banks. They have made large purchases including Banco do Estado do Maranhão, Banco Mercantil de São Paulo, HSBC Brasil and many others.
Find more about Luiz Carlos Trabuco: http://fotos.estadao.com.br/galerias/cultura,luiz-carlos-trabuco-cappi-e-lucilia-diniz-ofereceram-jantar-em-torno-do-prefeito-joao-doria-e-sua-mulher-bia-nos-jardins,30901