Banco Bradesco is a unique bank. Bradesco is one of those small city banks that grew into an international bank. The change didn’t happen overnight. For the last 74 years, Bradesco executives have worked hard to make the bank relevant in Brazil as well as in countries around the world. But only two men carried most of the merger and acquisition load since the doors opened in 1943. Those men, founder Amador Aguiar, and Lázaro de Mello Brandão get the credit for keeping the bank on track as the bank’s only two Chairmen of the Board.
Amador Aguiar went to the big bank vault in the sky in 1991, but before he did, he made sure Luiz Carlos Trabuco was in a position to take over for Lázaro de Mello Brandão someday. Trabuco found a career with the bank in 1969. Aguiar and Brandão saw something in Trabuco that other bankers didn’t see. Trabuco didn’t have accounting training, and he wasn’t a finance major at the University of Sao Paulo, so his banking talents alluded most people. But Brandão knew Trabuco would be an important asset as the bank continued to expand.
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Trabuco is a fast learner, so he moved through the training program quickly. Brandão made sure Trabuco got several opportunities to show those hidden talents, and Luiz didn’t disappoint his mentor. Trabuco became a director in the 1970s, and in 1984, he was one of the VPs that founder Aguiar and CEO Brandão put their faith in. When the president position at Seguros, the bank’s insurance division, was available, Brandão didn’t waste any time naming Trabuco as the new insurance chief. Luiz was president of Seguros from 2003 to 2009. During those years, Seguros was a top profit generator. Trabuco’s insurance division put 40 percent of the bank’s total net income on the bottom line. At the end of 2009, Brandão gave Trabuco the keys to the bank’s president’s office, and Trabuco didn’t disappoint the Brandão or the Board of Directors.
Bradesco success is a joint effort. Trabuco and Brandão have an efficient and competent executive team in place. When Bradesco had one eye on HSBC’s Brazilian operation in 2015, VP Alexandre da Silva Glüher was the person who put the $5 billion deal together according to valor.com.br. And when Trabuco wanted to incorporate a new online banking platform, IT Vice President Mauricio Machado de Minas was the man who put the platform together. Trabuco has an uncanny management and banking sense, and his team understands what that sense can do for them and the bank.
Lázaro de Mello Brandão is finally at the end of his banking career. Trabuco is taking over as Chairman of the Board, but he is still the CEO until a new CEO surfaces in February 2018. The New CEO will come from the executive pool. Seven candidates are ready to take over as CEO, but it’s up to the six-member board and retiring chief Lázaro de Mello Brandão to pick the Trabuco’s replacement. Alexandre da Silva Glüher and Mauricio Machado de Minas are top candidates, but, Andre Cano, Domingos Figueiredo Abreu, Josué Augusto Pancini, Octavio de Lazari and Marcelo Noronha are candidates as well. The other five candidates head the human resource, lending, investment, operations, and insurance divisions of the bank.
Some Bradesco employees think Luiz Carlos Trabuco will be less visible as chairman, but the people who know the down-to-earth chairman think Trabuco is just starting to make a difference. At 68, Trabuco has the knowledge, expertise, and the patience to take Bradesco to the next level. Investors on Wall Street think Trabuco will help the bank’s stock value in 2018 because of his successful 48-year banking track record.
Learn more about Luiz Carlos Trabuco: https://g1.globo.com/economia/negocios/noticia/sucessao-no-conselho-do-bradesco-foi-um-ato-planejado-diz-trabuco.ghtml