Luiz Carlos Trabuco leads one of the top financial firms in Latin America. For many people, he is part of a legendary lineage as the fourth president of Bradesco in the 70 years of its history. Since 2009, he has successfully run the financial institution, which has assets worth over R $B 900 and almost twenty seven million account holders. This is definitely a huge responsibility, right?
Born in Marília, Luiz Carlos Trabuco started working at the company since the age of 18. Having worked in the institution for so long, he embodies a certain kind of Bradesco culture. He displayed great skills at work, and consequently, he was consistently promoted from one rank to a higher one – from department director to Managing Director Executive, Vice President, CEO and finally, the Chairman of the most prestigious financial institution.
Retirement of Bradesco’s Chairman, Brandao
Currently, Trabuco is both the chief executive officer and chairman of Bradesco. He earned the position of chairman upon the retirement of Lazaro de Mello Brandao. Who would want to work or rather be able to work efficiently after the age of 60? Well, Brandao just stepped down at the age of 91, making him one of the world’s oldest bank chairmen in service.
He personally decided to step down after honorably heading the second largest bank in Brazil for over 25 years. Luiz Carlos Trabuco is expected to hold both positions till a new CEO is elected in March.
Bradesco’s Way Forward
Under Trabuco’s management, Bradesco grew tremendously and the equity returns were always above 27 percent unlike before, when they could go as low as 22 percent. Based on the record of his leadership, many people have high expectations about Bradesco. We foresee the immense growth of the institution with the CEO as the chairman. With such a determined leader, you expect nothing less, don’t you?
The Brandao’s replacement gives undivided attention to the traditions and basic practices of banking services. He plans to ensure the continuity of the traditions set by former leaders such as Brandao and Amador Aguiar. Connecting with people by understanding their values, desires, interests, and what they hold to heart is one of the strategies he has learnt from his precedents.
One of the most important cultures he has set out to observe is promoting existing talent rather than cultivating a new one. This was fostered by Brandao who believed that promoting existing executives to higher ranks is more convenient than introducing a new leader from outside. Considering this, the bank will elect a new CEO from amongst its seven top-ranked executives.
Criteria for Electing the New CEO
The company changed its bylaws by increasing the retirement age for CEOs from 65 to 67. This gives Luiz Carlos Trabuco no other choice rather than nominating a new CEO. The possible candidates for the new position are seven executives from various departments in the institution.
They include Mauricio Machado de Minas from the IT department, Alexandre da Silva Gluher the chief risk officer, Domingos Figueiredo Abreu the bank’s treasurer, Josué Augusto from the branch network department, Marcelo de Araujo Noronha from corporate and investment banking, Octavio de Lazari from lender’s insurance, and André Rodrigues Cano from human resources department.