On October 6, 1951, in Marília, São Paulo, a man was born, but nobody could foretell his destiny. Luiz Carlos Trabuco has risen to become the leading figure in the banking industry not only in Brazil, but he is also recognized worldwide. His career at Banco Bradesco S.A. began in 1969, and he rose through the ranks by servicing in all capacities in the firm.
He has been the Chairman of the Board of Banco Bradesco since October 3, 2017, after serving as Chief Executive Officer from March 10, 2009, to March 12, 2018. He has a Masters in Philosophy with a postgraduate degree in Social Psychology at Fundação Escola de Sociologia e Política de São Paulo. His career spanned 48 years ago, and his entire professional life has been spent in the Bradesco Organization. He is not only Chairman of the organization, but he holds other executive positions in subsidiaries of the Bradesco portfolio.
Luiz Carlos Trabuco has a record of accomplishments that speaks for itself. Luiz Carlos Trabuco began by making significant changes in the most critically ailing departments according to folha.uol.com.br. The first thing he had to deal with when he took over the establishment was to solve the crisis in the pension system that was the blame for the financial crisis that had plagued the company.
Read more: Bradesco anuncia substituto de Trabuco
To massage societal appreciation many leaders opt to maintain the status quo, but though he faced hostility for the policies he introduced, Bradesco has risen to be a global leader in finance. Other than introducing changes to reform the pension system, he has been assembling a team to lead the company towards further growth. As bank executive he does not believe in authoritarian leadership and instead of handling all decisions on his own, he encourages every member of the institution to have at least some say in the major decisions, and this leads to further prosperity of the company over the long haul. He also has been encouraging bank administrators to be more autonomous and rarely gets involved in departmental issues unless invited.
The first thing that Luiz Carlos Trabuco did, when he took over, was to initiate several brainstorming sessions where he gathered information on why the bank was not only losing profits, but it had also lost its position as a market leader. The idea of mergers with smaller financial institutions appealed to him as a way of not only increasing the asset base of the institution but also increase the stock value of the bank according to istoedinheiro.com.br. He is credited with the acquisition of numerous institutions, but his brightest star was the way he handled the merger between HSBC Brazil and Banco Bradesco at a cost that was deemed the most expensive merger on the planet at the time. His sparkling leadership at Bradesco has led him to be a hot pick in, not only on Wall Street, but the government also consulted him on various issues especially on pension reforms to cut government expenditure on public utility, his policies are set to revamp the financial crisis that has bedeviled Brazil lately.
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