Luiz Carlos Trabuco – Banco Bradesco’s New Chairman And CEO Succession

Luiz Carlos Trabuco is a successful and top ranking banking professional in Brazil and around the world. Having been in the banking industry all his career life, Luiz has accumulated extensive skills and experience in the field. He is currently Banco Bradesco’s chairman and acting CEO. Banco Bradesco is one of the leading and largest banking and financial services institution in Brazil with several branches outside the country.

Luiz was recently named the bank’s chairman after the former chairman, Lazaro Brandao resigned after 27 years of service. Luiz Carlos Trabuco’s banking career and profile has earned him a lot of awards and recognition. Bloomberg has ranked him the world’s oldest banking professional and leader. In 2009, the same year he took up the bank’s presidency, he was listed among the most influential people in Brazil. In 2016, Forbes Magazine listed him among Brazil’s top CEOs.

Education and Career Profile

Luiz Carlos Trabuco was born October 6, 1951, in Marilia, Brazil. He joined the University of São Paulo in Brazil – the country’s most prestigious and sought-after institution of higher learning – for a degree in Philosophy and later a Socio-Psychology post-graduate degree from the same university.

After graduating, he started working at Banco Bradesco as a clerk in Marilia branch. He soon shifted to the bank’s headquarter branch in São Paulo and quickly rose up the ranks. After 15 years, Luiz became the bank’s marketing director. He was in charge of the Bank’s Marketing for eight years after which, in 1992, he became the CEO of the bank’s private pension company between 1992 and 1998. In 1998, he became Managing Director, and a year later, assumed the position of Vice President. He was elected the bank’s Seguros group president in 2003.

In his tenure, Bradesco increased by 25 percent in leadership in the market. The insurance wing was able to expand by 10 percent and became the biggest in Latin America. With over 40 years of banking leadership and knowledge in different positions, Luiz was elected CEO and president in 2009 and joined the list of former three CEO’s that Bradesco has had in history. In 2017, Luiz has been designated Bradesco’s chairman.

Bradesco’s CEO Succession Race

Bradesco was established to be an independent bank serving Brazil’s economic and social development in 1943 by Amador Aguiar. More than 70 years later, the bank has expanded to boast of over 5,000 local and foreign branchesaccording to economia.estadao.com.br. Bradesco provides banking, insurance plans, pension’s plans, investments services, bonds, internet banking, and credit card services to its clientele.

Bradesco is on a mission to choose a new CEO to replace Luiz who is currently holding both the CEO as well as chairman positions. Bradesco plans to announce a CEO by March 2018 before its next shareholder’s assembly. The bank will not source a new CEO from outside, but will select him from among seven of the bank’s top-ranking executives, according to Luiz on globo.com.

See: http://www.valor.com.br/financas/5194121/trabuco-apesar-das-incertezas-investidores-acreditam-no-pais