Taking over at a new position can be intimidating for anyone, especially where the position in question is that of the chief executive officer. In addition to balancing the needs of the company’s various stakeholders, a new CEO also has to deal with constantly being compared to his predecessor. This was the situation Luiz Carlos Trabuco faced when he took over from Marcio Cypriano as the president of the giant Brazilian bank, Bradesco in 2009. Cypriano had been with the bank for a decade and had overseen one of the most aggressive expansion drives in Brazil’s banking industry. In fact, between 2001 and 2004, Bradesco took over up to six companies in various sectors of Brazil’s financial industry. While the pressure of being compared with Cypriano and the responsibility of building on what he had started was immense, Luiz Carlos Trabuco has in the seven years since being appointed president made the position his own by posting consistently positive results.
Born in the city of Marilia located in the metropolitan area of Sao Paulo in 1951, Luiz Carlos Trabuco did not initially harbor any desires to go into banking. For his undergraduate studies, he attended the University of Sao Paulo where he graduated with a degree in Philosophy, Sciences, and Letters. Later, he would undertake his postgraduate studies at the Fundacao School of Sociology and Politics of Sao Paulo, graduating with a master’s degree in Socio-Psychology. In 1969, however, Luiz Carlos Trabuco made the surprising decision to take a job as a clerk at the Bradesco branch located in his home city of Marilia. After only a two years in the position, he looked destined for a long career in banking and was befittingly promoted to work at the bank’s headquarters.
Fast-forward three decades to 1999 and Luiz Carlos Trabuco was still working at Bradesco. He had been the recipient of a number of promotions and at the time held the position of executive vice president at Bradesco insurance division, Bradesco Seguros. It is at this division that he would go on to make a name for himself upon being named its president only four years later in 2003. Upon taking over, he quickly grew the broker network under the insurer’s control – a move that led to an increase in market share from 23 percent to 25 percent over the course of his tenure. Additionally, he also managed to more than double the insurer’s size to R$ 78 billion by the time he was leaving to become Bradesco president in 2009. However, the achievement that turned the most heads, within the bank at least, was the fact that Luiz Carlos Trabuco managed to increase Bradesco Seguros’s overall return to the group’s results from 16 percent in 2003 to 35 percent in 2008.
In the time since taking over as Bradesco’s president, Luiz Carlos Trabuco has shown traits similar to those of his predecessors. This should not come as a surprise given the fact that he has been with the bank for close to five decades and has had the chance to interact and learn from each of his three predecessors directly. It is with the goal that he is now trying to mentor Bradesco’s executives in leadership. He has set up a highly acclaimed corporate university at the bank known as Unibrad. A testament to its high standards, the institution was the recipient of the best corporate university in the world award at the 2017 GlobalCCU Awards. When he eventually retires, Unibrad will be Luiz Carlos Trabuco’s lasting legacy at Bradesco.
Find more about Luis Carlos Trabuco: http://www1.folha.uol.com.br/mercado/2016/09/1810520-bradesco-quer-manter-trabuco-na-presidencia-por-mais-dois-anos.shtml