Who is Luiz Carlos Trabuco?
Luiz Carlos Trabuco is probably one of the best examples of a Brazilian success story. He started as a bank teller being paid a modest salary to the CEO of one of the most powerful corporations in Latin America.
During his early career, he balanced his job with his full-time studies at the Sao Paulo’s School of Sociology. When he obtained his degree, he advanced rapidly throughout the company and made a name for himself. He was especially popular as the marketing director, in which he made a lot of key marketing decisions that made the company more profitable.
Not too long ago, he was recognized as the Insurance Personality of the Year for his work in the insurance market. He had worked hard to break Bradesco into the Brazilian insurance market with a great deal of success. The company has gone from an old-fashioned marketing approach to a company that takes advantage of ever PR opportunity possible.
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Bradesco is one of the most popular banks in South America, and it was the most wealthy bank in Brazil for a period of time. They have branches in just about every corner of the country and cash machines in most major stores. Unless you have been living in a cave, you probably have heard about this bank.
They specialize in personal and business financial services with a recent rise in the private pension market. Although the government is known to provide reliable pensions, their pension packages are used as an extension to what the government provides.
Just like most other banks, Bradesco is starting to internationalize. Brazilians abroad may enjoy financial services from this familiar company as they have locations in Mexico, Argentina, New York and other large cities.
With Recent acquisitions, the bank is expanding even further in local markets. The company has gone to great lengths to acquire other large banks like Banco do Estado do Maranhão or Banco Mercantil de São Paulo. Even more impressive Bradesco has taken over the local operations of HSBC. With these acquisitions also come even more diversification of the company’s financial services.
The current assets of the company are evaluated at US$ 413.0 billion. This amount puts them in the top 3 banks when it comes to total assets. Bradesco uses to hold the throne of being the biggest bank but rival companies had merged to take over their position.
Even though the outlook for the Brazilian markets is a bit bleak, the bank has managed to maintain their profits to an impressive level. CEO Trabuco has invested into other merging markets, like private pensions, so that the income flow is now diversified. Redefining their place in the financial market is how the company will maintain dominance in the long term.
What’s next for Bradesco bank?
Although Luiz has been a valuable asset to the company, the current age limit will soon force him to retire. Of course, this rule is currently being discussed so that he may continue his guidance of the company.
The company has not had many chairmen since Amador Aguiar had led the company since the start. After the death of the founder, policies had hastily been set in place by the executives so nothing should be set in stone. The idea of forcing a CEO to retire because of their age is not a sound decision since they could still benefit the company. For this reason, considerations are being made to keep Luiz Carlos Trabuco in his position since he has brought stability to the organization.
Find more about Luiz Carlos Trabuco: https://br.reuters.com/article/topNews/idBRKBN1CF35D-OBRTP