Luiz Carlos Trabuco, the current president of Bradesco Seguros, is one of the most respected executives in the Brazilian banking sector. Interestingly, he has spent his entire professional career at Bradesco. Perhaps this is the reason he has been so successful in his seven-year spell as the president.
The city of Marilia, SP is where it all began for Bradesco and Luiz Carlos Trabuco. The two were born in the small city approximately eight years apart – Bradesco founded in March 1943 and Luiz Carlos Trabuco born in October 1951. The paths of Bradesco and Luiz Carlos Trabuco crossed in 1969 when he joined the bank as a clerk. He was quickly promoted up the ranks, becoming the vice president of the bank’s biggest subsidiary in 1999 and its president four years later. In 2009, having spent four decades at the bank, he was eventually named its president, taking over from Marcio Cypriano and becoming only the fourth man to hold the highly coveted position.
Insurance Personality of the Year
Luiz Carlos Trabuco has twice worn (in 2003 and 2007) Coverage Magazine’s insurance personality of the year award. He received the recognition while working as the president of the Bradesco group’s insurance subsidiary, Bradesco Seguros. He held this position for the six-year period running from 2003 to 2009. The two awards were in recognition of the undeniable work he did at the country’s largest insurance company. Among the greatest feats he managed while heading up Bradesco Seguros was growing its ownership of insurance policies to about a quarter of all those held in the market. Additionally, he also increased Bradesco Seguros’s contribution to the bank’s bottom line by close to 10 percent. Given the fact that his successful reign at the helm of Bradesco Seguros coincided with the global financial crisis that started in 2008, he was one of the main reasons that the bank did not crumble like others in Brazil and foreign markets.
Spearheading Bradesco’s Aggressive Expansion
Growth for large banks is a matter of both survival and pride. Bradesco became the largest privet bank in Brazil in 1951 and consistently held the position till 2009 when Itau Unibanco was formed through a merger. Unfortunately, Bradesco’s fall to the number two position coincided with his appointment as president. However, the event gave Luiz Carlos Trabuco purpose and motivation as he has since been doing everything in his power to gain ground on Itau Unibanco. By 2015, for instance, he had successfully managed to grow the bank’s customer base by around seven million to stand at 27 million. Additionally, he has also significantly grown the bank’s network coverage to well over 5,000 branches, ensuring that all its clients are conveniently covered. However, his most aggressive expansion move yet has been the purchase of HSBC Brazil in a multi-dollar deal that was termed the single largest one in the country in 2015. In fact, the sheer magnitude of the deal got Luiz Carlos Trabuco the entrepreneur of the year in the finance category by This Is Money Magazine.
Engagements outside Bradesco
Luiz Carlos Trabuco’s work rate and affinity for success have caught the eye of quite a few organizations in Brazil’s financial sector that have in turn offered him various charges and roles. He has previously served as the presidents of the National Federation of Supplementary Health (FENASAUDE), the Insurance Group, and the National Association of Private Pensions (ANAPP). Currently, he sits on the board of directors of the Brazilian Federation of Banks (FEBRABAN). Additionally, Vale SA has also sought to take advantage of his strategic nous by appointing his one of the members of the company’s Strategic Committee.
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