Luiz Carlos Trabuco will move to chairman of Bradesco, choose successor

Few people in the history of Bradesco, the largest bank in Brazil, have had as crucial an impact and enjoyed as much personal success from it as Luiz Carlos Trabuco. The 67 year old CEO of the firm has been with the company for nearly 50 years. As he moves to the position of chairman of the board, vacating the CEO job that he currently holds, he will continue to be a driving force behind the broad strategic decisions taken at the bank and the tactics with which they are implemented. If the past is any guide, keeping Trabuco on board is one of the best decisions the bank could have possibly made.

Trabuco has proven to be a formidable leader

Despite having a rocky ride as CEO, at least for the first six years of his reign, Trabuco was able to completely vindicate himself with the historic purchase of HSBC Brazil for $5.2 billion cash in 2015. The acquisition was hailed by Isto E Dinheiro as one of the most daring and well-executed purchases in the history of Brazilian business. The deal took the ailing Bradesco from a distant second-place in the Brazilian banking markets to a solid number one, immediately turning the tables on archrival Itau Unibanco and giving Bradesco the firm upper hand.

Now, two years after the historic purchase, Bradesco’s stock price, which had sunk as low as just 20 percent of its all-time high values, is now trading at record levels. But the ability of Trabuco to snatch victory for his firm and its more than 100,000 from the jaws of defeat is far from the first time that his strong leadership and vision has led to successes for his company.

Coming up through the ranks

Trabuco first went to work at Bradesco at the age of just 18. The year was 1969 and the young Trabuco had just graduated from high school. He had dreams of attending college but, being from a relatively poor household, was forced to go to work in order to put himself through the university.

He noticed a help wanted sign in a local bank branch and walked in to apply. After a brief interview, he was hired on as a bank teller, the lowest job at the firm. Over the next year, he proved himself to be a reliable and capable employee. He was quickly promoted to shift manager then branch manager.

Throughout the 1970s, Trabuco slowly rose through the ranks, eventually ending up as a regional manager for a quickly expanding Bradesco. During this time, he was able to put himself through night school, even as he worked up to 60 hours per week at the bank. By the end of the 1970s, Trabuco had achieved a bachelor’s degree in business administration as well as a master’s degree in social psychology.

By 1984, he was among the most well-credentialed and qualified employees of the firm. It was then that he was first tapped for an executive role. Over the next 20 years, Trabuco would head up a total of three departments with the bank, each time making major contributions to the bottom lines of the business units of which he was in charge. By the late 2000s, Trabuco had been responsible for increasing the bank’s profits by billions of dollars. In 2009, he was appointed by outgoing CEO Mario Cypriano to take the place of CEO.

Over his long and successful career, Trabuco has made an indelible imprint on the way that the bank does business and the overall corporate philosophy. As he assumes the role of chairman, it can be expected that his knack for creating value will continue. For more information visit:http://insiders.morningstar.com/trading/executive-profile.action?PersonId=PS00003Y11&flag=Executive&t=XNYS:BBD&region=usa&culture=en-US&cur=