Luiz Carlos Trabuco Led Bradesco to Modern Times and Indicates that his Successor should be Chosen in the Near Future

Luiz Carlos Trabuco has maintained his influence within the inner group of Brazilian business executives. The evidence for this is because Trabuco has attained professional and personal success as Bradesco’s current CEO. Bradesco has been one of the most renowned Brazilian private banks for many decades. Bradesco is actively present in several locations throughout Brazil. Luiz Carlos Trabuco was behind Bradesco’s success in its transition phase to becoming a modern bank. He is also responsible for the success of many large-scale credit negotiations as well as some current significant financial projects in the country.

Trabuco’s direction over Bradesco’s most important business objectives as well as Trabuco’s prestige within the financial market has been the core reasons that Bradesco is such a powerful Brazilian Bank. The vast majority of Brazil’s most significant politicians and most Brazilian executives frequently take heed of Trabuco’s financial projections and guidance. Trabuco addresses the media, and his press statements are usually featured in newspaper headlines, magazine covers in the financial sector.

In the past, Bradesco held the position of the largest private bank in Brazil. This title was lost to the Itaú and Unibanco merger, which is now called Itaú-Unibanco, which is now the biggest Brazilian private bank. Trabuco saw that fighting to regain the title of the biggest private bank in Brazil through acquisitions would not focus on Bradesco’s core business. Trabuco devised a strategy for Bradesco that made all its agencies offer better and more modern services, which helped it grow organically and improved its financial results. This strategy was successful and increased Trabuco’s fame and recognition.

A recent decision that has caused considerable speculation is how the financial market has absorbed the statement that Luiz Carlos Trabuco would replace Lázaro de Mello Brandão, who is Bradesco’s oldest working executive, currently in his nineties and has been with Bradesco for over seven decades. Brandão’s last 25 years have been dedicated to being on the board as one of the chairmen.

Trabuco is still the CEO at Bradesco will replace Brandão as the president of the Administrative Council. Luiz Carlos Trabuco is currently 66 and is the present CEO of Bradesco. Trabuco was given a waiver that is good all through 2018, which blocks the internal rule of 65 being the top age to preside as CEO. Trabuco has announced that he will not continue as CEO past the 2018 waiver.

By March of 2018, Bradesco is expected to announce its next CEO. Trabuco has stated that his succession is a “process”, and his successor is yet to be chosen. Trabuco also states that Bradesco is a complex organization with unique characteristics and different segments that must be fully understood. Fulfilling this requirement will be decisive to whoever will become Trabuco’s successor.

Since Trabuco was backing the technical side of the acquisition of HSBC Brasil of Bradesco’s last acquisition, the succession announcement came as a surprise to many. A large Brazilian newspaper, O Estado de São Paulo, suggests that the vice president of technology of the Bradesco group might be chosen to succeed Trabuco as CEO due to his involvement in the HSBC integration as well as establishing Next as the group’s digital bank.

Other Bradesco directors including Domingos Figueiredo de Abreu, Alexandre da Silva Glüher, Marcelo de Araújo Noronha, André Rodrigues Cano, Josué Augusto Pancini and Octavio de Lazari Junior are said to be in the succession race to replace Luiz Carlos Trabuco.

Luiz Carlos Trabuco has 3 children and is married. Trabuco earned a Philosophy degree from USP (Universidade de São Paulo) as well as a Social Psychology degree from the School of Sociology and Politics of São Paulo (Escola de Sociologia e Política de São Paulo).

Luiz Carlos Trabuco is said to hold the merit for making Bradesco step up to become a modern bank, which was occurred in the 80s. Trabuco is also to credit for improving Bradesco’s image and relationship with the media. Trabuco is also responsible for establishing Bradesco Prime, one of Bradesco’s segments, which successfully caters to the VIP banking market.

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